Dogecoin Soars 6% as Meme Coins Rally, Could Hit $0.1

– Dogecoin, the largest meme coin, has seen its value grow by 22.2% in 14 days and is now trading at $0.088.
– Other top-performing meme coins include Shiba Inu, Dogelon Mars, FLOKI, Kishu Inu, Shiba Predator, Hoge Finance, BONK, and Tamadoge (TAMA).
– Dogecoin is sitting on robust support levels, which may propel its price beyond the $0.1 mark in the near future.

Dogecoin, the largest meme coin in the crypto market continues to outperform its peers as its price climbs 6% to $0.088. The surge in value is a result of the rising popularity of meme coins, with the total market capitalization of all meme coins reaching $19 billion. The OG meme coin, Dogecoin alone accounts for $11.8 billion of the entire market cap with its 14-day price surge of 22.2%.

The past week saw other meme coins rising to remarkable levels as well. Shiba Inu, the second-largest dog-themed token, is up 15.4% in 24 hours for a market cap of $7.1 billion. Dogelon Mars, FLOKI, Kishu Inu, Shiba Predator, and Hoge Finance have also seen significant gains within the same period, with Dogelon Mars up 15.7%, FLOKI up 27%, Kishu Inu up 28.2%, Shiba Predator up 20%, and Hoge Finance up 31%.

Another notable mention is the new token BONK, which has gained a huge following for being the first meme coin on the Solana blockchain. Tamadoge (TAMA) is also up 6.6% in a week to trade at $0.0143. TAMA has the potential to become the largest meme coin in the market, bolstered by several use cases as a play-to-earn and metaverse token.

Dogecoin price is currently sitting on robust support at $0.0847, reinforced by the 200-day Exponential Moving Average (EMA). Slightly below the 200-day EMA is a confluence support created by the 100-say EMA and the 50-day EMA at $0.0806. Dogecoin’s immediate downside is also home to a critical falling trend line. All these support areas point to the possibility of DOGE’s value continuing its uptrend and obliterating one zero for gains above $0.1.

The Moving Average Convergence Divergence (MACD) also shows that Dogecoin is in a bullish territory as the MACD line (blue) crosses above the signal line. The MACD histogram is also in the positive region and continues to rise, indicating that the bulls are in control. If the bulls manage to hold the support levels, Dogecoin may hit the $0.1 mark in the near future.