- DOGE is up 11% this week while other top meme coins like WIF and SHIB are down or only slightly up
- Dogecoin community is preparing for the annual “Doge Day” celebration on April 20th, aiming to boost the coin’s price
- Meanwhile, Borroe Finance (ROE) is in the final stage of its presale, having raised $3.6 million so far.
DOGE is outperforming other top meme coins this week, with the cryptocurrency up 11% while WIF is down 3% and SHIB is up 4%. All other top meme coins are “in the red” too.
DOGE is trading close to the $0.2 level, a mark it has struggled to significantly breach since the late February and early March meme coin frenzy. We’ll explore two key reasons why DOGE is outperforming its peers in the meme coin space.
At the same time, Borroe Finance (ROE) is part of the hot AI crypto narrative, with the project in the final stage of its presale, having raised millions so far.
DOGE is trading close to the $0.2 level, a mark it has struggled to significantly breach since the late February and early March meme coin frenzy. We’ll explore two key reasons why DOGE is outperforming its peers in the meme coin space.
Dogecoin’s Outperformance other memes: 2 reasons
Reason 1 – Doge Day
Doge Day is a celebration for Dogecoin enthusiasts, which is observed on April 20th, or 4/20. The term “420” is often associated with marijuana culture, and the date has been adopted by Dogecoin supporters to celebrate the digital currency’s playful and friendly image. The Dogecoin community aims to raise awareness about the cryptocurrency and potentially bring its price to $0.42 on this day.
Doge Day is also seen as an opportunity for the Dogecoin community to boost the cryptocurrency’s status and use. By purchasing and holding Dogecoin on this day, supporters aim to create a concerted effort to drive up the coin’s value. This collective action by the Dogecoin community has become an annual tradition, with the goal of increasing the coin’s visibility and potentially pushing its price higher.
Reason 2 – Positive Technical Outlook
When we look at the DOGE/USDT chart, we can see that DOGE is trading inside an ascending triangle channel since late February, when the meme coin frenzy began. If DOGE continues to trade within this channel, it could potentially hit $0.26 in the upcoming days.
While $0.42 may be an unrealistic target for Doge Day, as it would represent more than a 2x increase from the current price, $0.26 seems more achievable.
The DOGE/USDT chart also shows that the cryptocurrency’s RSI is around 60, indicating a healthy balance between buying and selling pressure. Additionally, DOGE’s 200-day moving average is $0.09, providing strong support for the coin amid any major pullbacks. The EMA20 is currently at $0.19, further reinforcing the positive technical outlook for DOGE.
As Bitcoin’s halving event, another important date in April, approaches, DOGE’s performance could receive an additional boost, as the event is often associated with increased crypto market activity. The combination of the Doge Day celebration and the positive technical signals suggests that DOGE may continue to outperform other meme coins in the near term.
Borroe Finance (ROE): The AI Crypto in the Final Presale Stage
Borroe Finance (ROE) is in the final stage of its presale, having raised $3.6 million so far. Over 282 million ROE tokens have been sold, and the team is now aiming for DEX listings and the official launch of the platform.
What is Borroe Finance?
Borroe Finance is a blockchain project that aims to empower Web3 businesses and content creators with instant funding by providing access to quick and secure loans. The platform uses blockchain technology and AI services to bridge the gaps in traditional revenue financing.
Borroe Finance’s four-step process involves user registration, the minting of an NFT representing the user’s future income and loan agreement, and the sale of the NFT on the platform’s fundraising marketplace.
The ROE token, with a built-in 3% buy/sell tax and a total supply of 1 billion, offers various benefits to token holders, including discounts, priority alerts, voting rights, and access to crypto and fiat payment solutions.
The platform’s deflationary token model, low transaction fees, and high scalability make it an attractive investment opportunity. Borroe Finance also mitigates risk by incorporating AI-based risk assessment and providing buyers with access to credit ratings and financial track records.
Conclusion
Dogecoin’s recent outperformance among top meme coins can be attributed to the upcoming Doge Day celebration and the coin’s positive technical outlook, with the potential to reach $0.26 in the near future. As the cryptocurrency market gears up for Bitcoin’s halving event, DOGE could potentially receive an additional boost in the coming weeks.
Meanwhile, Borroe Finance, the AI-powered blockchain project, is in the final stage of its presale, having raised $3.6 million so far. The platform’s approach to revenue financing and its innovative features make it a potential investment opportunity for those interested in the AI crypto space. Although, investors should always conduct their own due diligence since after all, this project is in the earliest stages, and those are the risky ones.
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