DOGE Price Drops 16% in a Week, Can Memebet Casino (MEMEBET) Token Reverse the Trend?

The DOGS/USD chart analysis on the 4-hour chart shows that the token has been on a sustained downtrend since September 14

The price of DOGE has dropped 16% in a week and 8% in the last 24 hours, currently trading at $0.0008432 as of 00:32 a.m. EST on trading volume that surged 93% to $278 million.

DOGE Price In A Bearish Trend

A 4-hour chart analysis of the DOGS/USD pair shows that the token has been on a sustained downtrend since September 14, after the bears won the struggle for dominance from the $0.0010 consolidation level, according to data from GeckoTerminal.

DOGS price has now fallen below the 50-day Simple Moving Average (SMA) ($0.0009551), which now serves as the immediate resistance zone.

However, the Relative Strength Index (RSI) seems to be rebounding from the 30-oversold region, currently at 33, indicating that the asset may start experiencing some bullish sentiments.

Currently, the Dogs price is on a bearish trend, as it now trades below the lower boundary of the falling wedge pattern.

If the trend continues, the DOGS price may drop further to the $0.000746 support, acting as a cushion against downward pressure.

However, the RSI now shows that the bulls are picking up momentum. If positive momentum picks up at this level, the price of DOGS may soar above the wedge. In a scenario where the Dogs price breaches the $0.0009551 resistance, the bulls may propel the price higher, as they target $0.0010.

Meanwhile, as the Dogs price aims for a bullish trend reversal, investors are snapping up the new meme coin casino project Memebet Casino (MEMEBET Token), which has amassed over $271K since its presale launched slightly more than a week ago.

Cryptonews, a prominent crypto channel on YouTube with over 11K subscribers, says that $MEMEBET Token could soar 100X after its launch.

Memebet Token Bolts Past $271K – A Casino for Meme Degens

Memebet Casino is the only web and Telegram casino where you can wager with meme coins.

Catering for the degen community, the Memebet Token team aims to create an exceptional user experience by offering a diverse range of casino games, a sportsbook, and high-stakes options within a community-focused environment.

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— MemeBet (@Memebetcasino) May 23, 2024

Users can place bets using meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and others.

Moreover, users who place bets using $MEMEBET Token can earn additional tokens in return. The more users wager with the $MEMEBET token, the larger their share of the rewards via the play-to-earn wagering component of the platform.

Token holders can also earn massive P2E airdrops, special degen rewards, and exclusive VIP benefits.

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— MemeBet (@Memebetcasino) May 19, 2024

To join the presale, you can buy $MEMEBET Token on the official website for $0.0253 using USDT, ETH, or a bank card. With a price hike coming in about 2 days, buy soon to lock in the best deal.

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