Is $DOGE About To Pump? Elon Musk Wins Dismissal of Dogecoin Manipulation Case Against Tesla
Dogecoin ($DOGE) yesterday slipped below $0.10, making for a 6-month low, however its descent has slowed after news broke earlier that a Federal court dismissed charges that Tesla/X CEO Elon Musk used X to manipulate the token’s price.
In the last 24 hours, the original meme coin Dogecoin ($DOGE) has added 0.3%, but lost 4.2% over the week to trade at its current price of $0.1018.
Considering Dogecoin’s 30-day depreciation is 19%, or 16% heavier than Bitcoin’s ($BTC), any further losses will likely keep $DOGE’s price entrenched between $0.08 and $0.1.
Dogecoin is sailing close enough to $0.1 to mount a recovery. A rising relative strength index (RSI) score of 38 means there is some steady buying momentum to help the price climb up. If it continues like this through the weekend, Dogecoin will start next week regaining $0.12.
With a market cap approaching $15 billion, Dogecoin is easily the biggest meme coin in the world but it’s pretty outdated tech nowadays, sinct it’s housed on an expensive proof-of-work blockchain based on Bitcoin.
This means it inherited two of Bitcoin’s anachronisms: high-energy consumption and low-functionality smart contracts.
Investors wanting to explore the next generation of meme coins should consider new cross-chain meme coin Base Dawgz ($DAWGZ), still only in pre-sale.
Like Dogecoin, Base Dawgz is another Doge meme coin, this time its primary kennel is on Coinbase’s Ethereum Layer 2, Base, but it’s also compatible with Ethereum, Solana, BNB Chain, Avalanche and Polygon.
$DAWGz launched on June 4, taking in over $200,000 within minutes as investors piled in to snap up a multi-chain meme coin with staking and share-to-earn capabilities. To date, it has raised $3.2 million.
But what is share-to-earn?
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