Dogecoin (DOGE) jumped nearly 5% on Wednesday, extending its strong four-day rally after Elon Musk’s recent support for Donald Trump and hints at a “Department of Government Efficiency (D.O.G.E.).” This uptick has fueled speculation that DOGE might soon set new yearly highs. Since bouncing off its 100-day Simple Moving Average (SMA) on October 26, Dogecoin has climbed 27%. Analysts believe it could breach the key $0.1756 resistance level; if DOGE holds above this, it could test its yearly peak at $0.2288.
However, market observers note some caution signals. ChangeNOW CMO Pauline Shangett remarked,
“With Dogecoin’s Relative Strength Index (RSI) now in overbought territory, and over 92% of the total supply currently in profit, there’s potential for sell pressure as investors look to book some gains. Such profit-taking could lead to a near-term pullback, creating price correction risks even amidst DOGE’s current bullish momentum.”
Dogecoin’s Market Value to Realized Value (MVRV) ratio, assessing holder profit based on last movement price, is now at a five-month high and indicates that DOGE holders are, on average, 81% up. While the high MRVR ratio also points to potential for correction, some investors see it as a marker for a new meme coin season. With this resurgence, three dog-themed cryptocurrencies may again capture the market’s attention, sparking another “crypto dog days” period.
Husky Inu (HINU): The Next Big Dog in Crypto
Husky Inu ($HINU) burst into the crypto world with big ambitions, setting its sights on dog-themed crypto heavyweights like Dogecoin and its sidekick, Shiba Inu. With its innovative Earn App and Decentralized Exchange (DEX) on the way, Husky Inu aims to keep users engaged and rewarded. The upcoming Earn App will enable users to earn $HINU tokens simply by interacting with the platform, while the DEX will facilitate seamless, decentralized trading – boosting both utility and value for $HINU holders.
Powered by the Solana ecosystem, Husky Inu is committed to creating a high-utility token ecosystem, one that’s designed to give back to its community through exciting features and rewards. Its presale has been a success story in itself, with the first stage selling out in mere days, the second following suit, and the third stage now underway. To date, Husky Inu has generated over $470,000 in its presale, highlighting the enthusiasm around this project and its potential. Recently, the project has transitioned from www.thehuskyinu.com to a new domain, www.thehuskyinu.net, to ensure uninterrupted service and access.
Husky Inu’s unique approach sets it apart in the crypto scene. With a limited total supply of 100 billion tokens and a deflationary mechanism that uses 50% of platform fees to buy back and burn tokens, $HINU aims to retain long-term value. It also brings investors a fresh opportunity with modest presale prices and a capped supply model. Further setting it apart is its charity voting feature, where 5% of the $HINU supply is earmarked for community-voted charitable causes, along with Solana-powered fast and low-cost transactions.
Myro (MYRO): $1 Billion Market Cap Within Reach?
Myro (MYRO) is showing signs of a comeback after a three-month dip, currently trading between $0.093 and $0.121 with a monthly uptick of 23%. This increase has investors cautiously optimistic as MYRO hovers near a resistance level of $0.135; a breakthrough could potentially drive the price to $0.163 – a 45% gain from current levels. The support levels at $0.078 and $0.050 provide a cushion against volatility, while an RSI of 55 and a mildly positive MACD reflect steady but cautious momentum. Earlier, some market analysts noted a falling wedge on daily charts, suggesting a breakout could propel Myro to the 0.618 Fibonacci level at $0.2, pushing its market cap past $200 million with sights set on a $1 billion valuation. Other experts predicted that Bitcoin’s rise might act as a catalyst, particularly with MYRO’s recent listings on Binance and Bybit. Given MYRO’s position as the lowest-market-cap Solana meme coin to gain these listings, it’s possible that it may soon outperform dogwifhat (WIF), the top Solana meme token.
dogwifhat (WIF): Strong Momentum Signals Breakout Potential
Dogwifhat (WIF), a dog-themed meme coin built on Solana, is riding a wave of bullish momentum and community-driven excitement. Inspired by the viral dogwifhat meme, WIF combines the appeal of fast, low-cost Solana transactions with a playful, engaging community, setting it apart from traditional cryptocurrencies. Recently trading between $2.20 and $2.78, WIF has gained nearly 7% in a week, with its 10-day average surpassing the 100-day, signaling an upward trend. Key indicators like an RSI above 57 and a Stochastic above 80 reflect strong momentum that could push WIF past its $3.07 resistance and toward $3.65, a potential 42% increase from the current levels. As the anticipated dog season approaches, Dogwifhat’s viral appeal and vibrant community position it as a promising contender among meme coins on Solana.
Conclusion
As the anticipated “dog season” unfolds in crypto, three standout meme coins are attracting attention on par with Dogecoin (DOGE), which is preparing to set new yearly highs. Myro (MYRO) is making a comeback, poised for growth with new exchange listings and a falling wedge breakout that could drive its price significantly higher. Dogwifhat (WIF) is thriving on Solana, with strong momentum and community enthusiasm pushing it toward a potential 42% gain past key resistance levels. At the forefront of excitement is Husky Inu (HINU), which combines an innovative Earn App and DEX with Solana’s efficiency, aiming to deliver real value to its holders. With a successful presale, capped supply, and a deflationary model, Husky Inu stands out as a top contender with robust community rewards and fast, low-cost transactions.
Visit the following links for more information on Husky Inu:
Website: Husky Inu Official Website
Twitter: Husky Inu Twitter
Telegram: Husky Inu Telegram
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/10/new-highs-coming-for-dogecoin-doge-3-meme-coins-to-watch-as-cryptos-dog-season-unfolds