In the cryptocurrency space, memecoins like PEPE and Dogecoin (DOGE) have created a frenzy, captivating both trader interest and major trading volumes. Recently, DOGE hiked after resisting a critical support level, igniting new interest amongst the holders.
On the other hand, PEPE has experienced a downside of sell-off, keeping it in an uncertain market position. Meanwhile, a new AI-driven platform, committed to provide its users a next-generation trading experience with advanced technology features that make it apart from its competitors.
Dogecoin (DOGE): A $3 Billion Buying Surge and Renewed Upward Momentum
Dogecoin has recently gathered traders’ attention with a significant buying spree worth more than $3 billion. A key catalyst to boost this momentum was the bounce off of DOGE from a critical support level at $0.14.
According to a top crypto expert, this “red level” has converted from a resistance point into a major support, increasing DOGE’s potential for more gains. Within hours, DOGE hiked to $0.16, reflecting a 16% surge that showed the renewed bullish sentiment amongst traders.
Data also highlights the excitement around DOGE as over the past week, centralized exchanges went through a rush of 350 million DOGE, totaling to $51 million in net inflows. Major traders shifted a striking 15.5 billion DOGE in huge transactions, resulting in $3.46 billion in worth. This wave of activity recommends that whales and institutional investors may be expecting higher value targets for Dogecoin.
PEPE’s Bearish Outlook: Diminished Volume and Trader Sentiment
Contrasting DOGE’s rally, PEPE’s performance has gone downhill significantly. After breaking below the crucial $0.000010 level, PEPE has continued to decrease, with its worth hovering around $0.0000089.
Daily trading volume has gone down to $485 million, indicating waning trader interest—a clear difference from its higher activity levels in late September. Moreover, derivative markets show this cooling sentiment, with open interest in PEPE contracts declining across major exchanges.
Technically, PEPE indicates signs of further downside. The formation of a bear flag on the 4-hour chart suggests a potential additional drop, with the next support level at $0.0000079—a decrease of 12% from current levels.
PEPE has also moved below the 50-period Exponential Moving Average (EMA) on both 4-hour and daily charts, while its Relative Strength Index (RSI) sits around 41, indicating that there may still be room for a further price drop. Without a significant catalyst, it appears likely that PEPE’s near-term trajectory could remain bearish, potentially allowing DOGE to maintain its lead.
IntelMarkets (INTL) Set to Lead the Memecoin Rally
IntelMarkets (INTL) introduces a new paradigm in cryptocurrency trading, setting itself apart with AI-driven blockchain technology and sophisticated features designed to optimize trading for both novice and expert users.
IntelMarkets uses Intelli-M™, a unique self-learning process that distinguishes its trading bots from those on traditional exchanges. These bots continuously analyze and learn from real-time data, adapting their strategies to optimize outcomes. By adjusting based on trading patterns and past mistakes, INTL’s bots could offer traders an edge in dynamic market conditions.
Traditional trading platforms often produce mixed signals that can lead to market confusion. INTL’s Intell-Array™ monitors multiple indicators and integrates over 100,000 data points to generate a single, coherent signal. This holistic approach simplifies decision-making for traders, helping them make informed choices even in volatile markets.
With the help of real-time data processing tools, INTL optimizes trade indicators and hyperparameters to improve trading precision. Unlike conventional blockchain technology, INTL’s advanced AI processes go beyond standard OHLCV (open, high, low, close, volume) data, incorporating a range of technical indicators that could appeal to data-oriented traders.
As IntelMarkets continues to attract attention with its AI-powered ecosystem, it raises the question of whether the platform’s advanced features will draw interest away from meme coins like DOGE and PEPE. Though meme coins have historically benefited from large online communities and hype cycles, platforms like INTL present an opportunity for a more structured and informed trading experience that appeals to a broader investor base.
Check out the IntelMarkets for more information about the technical platform, or Join the Presale for exclusive benefits.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2024/11/massive-buying-spree-worth-3-billion-shows-doge-is-still-leading-over-pepe-but-can-it-beat-intl-rally