• Dogecoin price is up by 5% in the past 24 hours, reaching $0.077698 amid a rise in its daily trading volume to more than $800 million.
• DOGE is currently seeing an increase in momentum, with its technicals suggesting that today’s rally may continue over the weekend.
• Three altcoins with solid fundamentals and strong teams – FightOut (FGHT), Dash 2 Trade (D2T) and C+Charge (CCHG) – are currently in their presale phase, hoping to match the performance of other altcoins that have risen substantially this year.
Dogecoin (DOGE) has seen an increase in momentum in the past 24 hours, as its price has risen by 5% to reach $0.077698 and its daily trading volume has skyrocketed to more than $800 million. This gain follows a week-long decline of 8% and a 30-day slide of 21%. On the other hand, the altcoin is still up by 30% since the end of October, when Elon Musk’s takeover of Twitter was confirmed, creating expectations that the social network would introduce DOGE payments or tipping in some form.
The main short-term reason behind DOGE’s rally today is the fact that it has just gained a listing on Bitstamp, the fifth-biggest exchange in the world by volume. This has significantly increased the altcoin’s daily trading volume, and is largely responsible for its current surge.
At the same time, DOGE’s technicals are suggesting that today’s rally may continue over the weekend, and possibly beyond. Its relative strength index (purple) has begun rising after hitting almost 30 a couple of days ago, and is currently at 40, meaning it has plenty of room left to rise. Likewise, the altcoin’s 30-day moving average (red) has stopped the decline it saw at the beginning of this month, and is now looking like it could begin rising further above DOGE’s 200-day average (blue), indicating additional price gains.
The Dogecoin community remains hopeful that Twitter will introduce dogecoin-based tipping or payments in the future, and is still aiming for a medium-to-long term price target of $1. However, Elon Musk’s decision to step down as Twitter CEO (once a replacement has been found) has dented the credibility of such optimism, making it unclear whether we’ll really see DOGE payments on the social network.
Apart from DOGE, other altcoins present a higher probability of gains in the shorter term. In particular, presale tokens have had a big 2022, enjoying big gains following listings, even with the bear market. For instance, Tamadoge (TAMA) posted gains of over 1,800% after listing for the first time, and Lucky Block (LBLOCK) and Battle Infinity (IBAT) witnessed increases as high as 6,000% and 3000% respectively when they first listed earlier this year.
Three projects currently in their presale phase, hoping to match such performance, are FightOut (FGHT), Dash 2 Trade (D2T) and C+Charge (CCHG). FightOut (FGHT) is a move-to-earn app that rewards users for engaging in a wide variety of workouts, while Dash 2 Trade (D2T) is a trading intelligence platform that will provide real-time analytics and social trading data when it launches early next year. C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations, and is running on Binance Chain.
FightOut (FGHT) has already raised over $2.3 million in its token sale, with its current sale price of 60.06 FGHT for $1 (FGHT can be bought with ETH or USDT). Dash 2 Trade (D2T) has raised over $10.5 million, with its sale due to end in only 13 days. C+Charge (CCHG) is currently priced at $0.013, with BNB and USDT being accepted.
Altogether, these projects have solid fundamentals and strong teams, giving them the best possible start for having a successful 2023. Although they will need wider market conditions to be favorable in order to reach the same heights as Tamadoge (TAMA), Lucky Block (LBLOCK) and Battle Infinity (IBAT), they still present an interesting opportunity for investors.