Here's Why Investors are Bearish on Dogecoin Price and Bullish on This New Meme Coin – Exchange Listings Soon?
As Dogecoin (DOGE) faces a critical turning point, it seems that the market's interest is shifting to a new meme coin sensation, Love Hate Inu (LHINU).
DOGE's current price stands at $0.07796, down by 1.10%.
The popular meme coin is struggling to recover after facing a catastrophic rejection from the topside resistance around $0.10 in April, which led to a 21% retracement.
A fragile support level has emerged at $0.075, which may not hold for long.
In April, DOGE experienced 4.5% growth and has achieved a 10.5% increase YTD.
Unfortunately, DOGE now trades below both the 20 and 200-day moving averages, signalling a critical loss that could result in a freefall.
The RSI indicator offers a glimmer of hope at 44, suggesting that DOGE is oversold at these levels.
The MACD, however, stands at 0.00001, leaving DOGE fighting to reclaim its position above the 20-day moving average.
While DOGE's upside target of reclaiming support at $0.085 could set the stage for another resistance test at $0.10, the downside risk of a strong lower support level at $0.075 cannot be ignored.
Amid the DOGE downturn, Love Hate Inu (LHINU) offers a persuasive alternative for investors seeking the next meme coin with real utility.
LHINU's innovative Vote-2-Earn platform allows users to participate in polls on trending topics, earning tokens for voting.
By staking LHINU tokens, users can contribute to the latest meme sensations and benefit from a secure, transparent, and community-driven ecosystem.
Love Hate Inu's presale has already raised over $10 million, with a launch price set at 1 LHINU = 0.000145 USDT.
Analysts are pointing to LHINU as one of the best cryptos to buy now, comparing its potential to Dogecoin and Pepe Coin's meteoric rise.
With its unique use
Read more on cryptonews.com
