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Dogecoin has increased 2.44% today, climbing from $0.083 to $0.085. Its momentum has significantly grown in the last three hours, accompanied by anticipation of a higher-time-frame upswing.
Other meme coins are also showing strength, with the Meme Kombat presale recently surging past $9.1 million, leaving just $900K until its IEO.
Dogecoin Shows Strength as Analyst Calls for $1
A prominent analyst has provided a $1 target for Dogecoin as its price breaks a descending triangle.
The move was enabled by bullish market conditions, with the broader crypto market seeing a 1.4% increase today, according to CoinGecko data.
![](https://www.businesstelegraph.co.uk/wp-content/uploads/2024/02/Dogecoin-Price-Crosses-0085-As-Meme-Kombat-ICO-Hits-9M.png)
On top of its 2.44% increase, DOGE is up 3.93% this week and 9.21% this month but down 3.12% this year. It also remains down 88% from its May 2021 all-time high (ATH) of $0.73.
![](https://www.businesstelegraph.co.uk/wp-content/uploads/2024/02/1708312364_512_Dogecoin-Price-Crosses-0085-As-Meme-Kombat-ICO-Hits-9M.png)
The distance from its ATH illustrates lagging momentum compared to other top cryptos. For instance, Bitcoin, Ethereum, and Solana are down 24.9%, 41.8%, and 56.6%, respectively.
However, its price chart is starting to show strength, recently breaking above a weekly resistance level and retesting it for support. This trajectory indicates a shifting momentum from bearish to bullish, laying the way for further upside.
As the Dogecoin chart below shows, it is swiftly approaching the $0.11 resistance level, and its RSI indicator is in the oversold region, providing a viable bull case.
![](https://www.businesstelegraph.co.uk/wp-content/uploads/2024/02/1708312366_783_Dogecoin-Price-Crosses-0085-As-Meme-Kombat-ICO-Hits-9M.png)
However, taking a longer-term outlook, analyst Anup Dhungana anticipates a move toward the $1 mark in the coming months.
Anup highlights that Dogecoin has broken above and retested a descending triangle, a pattern that formed before its two previous bull market rallies.
![](https://www.businesstelegraph.co.uk/wp-content/uploads/2024/02/1708312367_955_Dogecoin-Price-Crosses-0085-As-Meme-Kombat-ICO-Hits-9M.png)
Still, traders must remember that Dogecoin presents risk. According to analyst Alan Santana, Dogecoin is losing momentum and could pull back to a lower support level.
The trader anticipates resistance between $0.086 and $0.081, leading to a selloff toward $0.075-$0.065.
![](https://www.businesstelegraph.co.uk/wp-content/uploads/2024/02/1708312368_610_Dogecoin-Price-Crosses-0085-As-Meme-Kombat-ICO-Hits-9M.png)
Alan also highlighted that Dogecoin is underperforming against other altcoins, illustrating the importance of diversification.
With that in mind, let’s take a look at a promising Dogecoin alternative, Meme Kombat, which is soaring in its presale as it nears the hard cap.
Just $900K Left Until Trending Meme Kombat Presale Ends
Meme Kombat is a multi-purpose meme coin that offers users several ways to play and earn crypto.
Its central premise is a gamified battle arena where users can gamble on AI-generated fights between meme coin characters. Several game modes are available, and the project leverages traditional odds mechanics for a fair and realistic gambling experience.
![](https://www.businesstelegraph.co.uk/wp-content/uploads/2024/02/1708312369_681_Dogecoin-Price-Crosses-0085-As-Meme-Kombat-ICO-Hits-9M.png)
Staking is another attractive feature within its ecosystem. The mechanism is already live, offering users a 104% APY. However, this will decrease as the staking pool grows.
Within the gambling arena, users will bet with the $MK token. This presents a demand stream that separates Meme Kombat from most meme coins, generally driven solely by hype and speculation.
In a bid to further its legitimacy, the Meme Kombat team is doxxed, with its founder’s information available on its website. Meanwhile, third-party security firm Coinsult conducted a smart contract audit, attesting to its transparency.
The combination of a compelling use case, robust tokenomics, and notable security efforts have drawn tremendous interest from market participants.
As well as raising over $9.1 million, Meme Kombat has been backed by top analysts, with ClayBro speculating it “could have huge potential.”
But with just $900K left until its hard cap, time is running out to buy $MK at its discounted presale price.