Dogecoin Holders Flock To This Dog Coin Alternative As Price Crashes 15% in 14 Days
The original meme coin Dogecoin ($DOGE) is down bad over the last fortnight. $DOGE holders saw their bags deflate by 15% over the last fourteen days as the world’s favorite meme now changes hands at $0.1052.
This price performance exaggerates that of market leader Bitcoin ($BTC), which sank 8.4% over the period to its current price of $59,924. The bulk of its losses are directly attributable to last Monday’s market-wide crash.
However, Dogecoin’s biggest contenders in the meme coin sector posted bigger losses. Shiba Inu ($SHIB) fell 16% to $0.00001359, while the biggest non-doge meme coin, Pepe ($PEPE), nosedived 28% to $0.000008039.
According to the trading chart, Dogecoin’s descent last Monday pulled its support level down from $0.09 to $0.08. Although it has grown 6% in the last seven days, it’s still short of recapturing $0.14, a threshold at which the meme coin found resistance in July.
With a relative strength index of 30 and falling, Dogecoin is now oversold. However, this indicates that the short-term profit-taking has stopped. There is reasonable ground to suggest buying momentum will pick back up this week as long as the crypto news cycle remains favourable.
Investors looking for an exciting Shiba Inu meme coin beyond the “Big Five” of Dogecoin, Shiba Inu, DogWifHat, Floki, and Bonk could diversify their portfolios with the new cross-chain meme coin Base Dawgz ($DAWGZ).
Like Dogecoin, Base Dawgz is another Doge meme coin, this time its primary kennel is on Coinbase’s Ethereum Layer 2, Base, but it’s also compatible with Ethereum, Solana, BNB Chain, Avalanche and Polygon.
This makes it a multi-chain coin with exciting capabilities, unlike the more vanilla DogWifHat, a coin which investors only hold to exploit
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