In a noteworthy turn of events, Dogecoin ($DOGE) has dipped below the $0.10 mark, reaching a six-month low. This recent drop follows a Federal court’s dismissal of claims that Tesla and X CEO Elon Musk manipulated the token’s price on X. Despite this news, Dogecoin’s price action has shown signs of stabilizing.
Over the past 24 hours, Dogecoin has posted a modest 0.3% gain, though it’s still down 4.2% over the week, currently trading at $0.1018. The meme coin’s 30-day depreciation stands at a hefty 19%, significantly outpacing Bitcoin’s ($BTC) 16% drop. As a result, $DOGE’s price is likely to remain in the $0.08 to $0.10 range unless there’s a notable rebound.
However, there’s a glimmer of hope for Dogecoin enthusiasts. The token’s Relative Strength Index (RSI) has risen to 38, signaling a potential uptick in buying momentum. If this trend continues through the weekend, Dogecoin could be poised to recover to $0.12 next week.
Introducing Base Dawgz – The New Contender in Meme Coins
While Dogecoin remains the largest meme coin with a market cap nearing $15 billion, it’s grappling with the limitations of its outdated technology. Based on Bitcoin’s proof-of-work blockchain, Dogecoin inherits high energy consumption and limited smart contract functionality—two relics from Bitcoin’s early days.
For investors eyeing the next generation of meme coins, Base Dawgz ($DAWGZ) emerges as a compelling alternative. Launched on June 4, this multi-chain meme coin has already raised $3.2 million. Base Dawgz operates on Coinbase’s Ethereum Layer 2, Base, and is compatible with major chains like Ethereum, Solana, BNB Chain, Avalanche, and Polygon.
Base Dawgz has set itself apart with its innovative share-to-earn strategy. This marketing approach rewards community members with points for sharing $DAWGZ content on social media, fostering a more engaged and loyal following than Dogecoin’s “Doge Army.” Additionally, Base Dawgz offers impressive staking rewards of 734%, making it an attractive option for investors.
With a pre-sale price of just $0.008582 and multiple payment options including stablecoins like USDT and USDC, Base Dawgz presents an easy and secure investment opportunity. With only five days remaining to purchase at this fixed pre-sale price, investors keen on gaining an early advantage should act swiftly.
As Dogecoin struggles with its outdated framework, Base Dawgz might just be the next big thing in the meme coin arena, potentially surpassing $DOGE and capturing the spotlight.
