- Dogecoin (DOGE) price rallied as most altcoins slipped early Friday.
- An analyst sees a trend continuation for the top meme coin after decent gains.
- The Memeinator has raised over $1.4 million in its presale amid huge interest in the AI-powered meme coin.
Dogecoin (DOGE) is looking to break higher after ticking up to $0.086 in the past few hours. While market conditions could flip to see the meme give up gains, the one question traders might be grappling with is how high Dogecoin price could go this time.
What would this imply for new crypto meme projects like Memeinator? Is this a good time to buy this new meme token?
Let’s have a look at Dogocoin’s price outlook and why this new token is building momentum that could see it explode into the market in coming months.
Dogecoin – price defies altcoin dip
Dogecoin (DOGE) is seeing upside momentum at a time most peers in the top crypto echelons are bleeding. Ethereum, BNB, XRP and Cardano have all lost between 3% and 7% in the past 24 hours, while Solana is the biggest loser in the top 10, dumping more than 13% in this period.
Yet selling pressure has the DOGE price up nearly 9% to trade above $0.086. The top memecoin also boasts an impressive return on its value in the past week and 30-day timeframes with 16% and 44% respectively.
What does Dogecoin’s rally mean for Memeinator?
The top meme coin’s gains come as positive sentiment around DOGE appears to be on the rise, while most altcoins in the top-10 cluster by market cap take a cue from Bitcoin’s dip below $36.5k.
On-chain data indicates $665 million in transaction volume and notable long bets have helped bulls. According to crypto analyst Rekt Capital, Dogecoin is looking at a trend continuation after a descending channel breakout.
If this trajectory materializes, DOGE could retest the $0.1 area and give bulls impetus to plot for more gains. It’s a resurgence that has the potential to drive investors into hunting for the next breakout meme coin.
As far as new projects in this sector go, the project likely to fit this bill is the Memeinator (MMTR).
Deploying an artificial intelligence-powered ecosystem, staking, crypto game and NFTs into the meme culture promises to shift focus from many would-be rivals that rely only on hype for traction. The project envisions a systematic targeting of low value or worthless meme tokens as part of cleaning the ecosystem.
In doing so, the Memeinator believes it will capture the global meme community and push its market value past the $1 billion mark.
Is the Memeinator a good buy today?
Looking at the current market setup, only Dogecoin and Shiba Inu pack more with nearly $12 billion and over $5 billion respectively. Pepe, Floki Inu and Memecoin have market caps of $478 million, $331 million and $220 million.
The Memeinator’s AI-powered ecosystem and superior utility offering could dwarf all these tokens. But before its Terminator instinct turns on the big dogs and frogs, first to go will be the small no value tokens.
There’s huge interest in the project as seen over the past few weeks, with investors quickly snapping the MMTR on offer in stages 4-6 of the presale. Memeinator has raised over $1.4 million in its recently launched presale.
If this crystallizes into solid community support over the remaining stages, reaching the stated target might not be a tough ask. In particular, MMTR price hitting $0.0485 at the end of the presale could position it nicely for a breakout past $0.1 before an assault on $1.
Visit the Memeinator website to learn more.
