The Dogecoin price dropped 7% in the last 24 hours but keeps an upward trend as investors turn their attention to an emerging alternative, Pepe Unchained.
Dogecoin's Ongoing Bullish Trend
The Dogecoin price has been on a significant bullish trend, particularly notable in October and November. The sharp rise above the 50-day and 200-day moving averages indicates strong momentum. The Relative Strength Index hovers around 54, suggesting no immediate overbought or oversold conditions. Support might be found around the 50-day moving average at approximately $0.2930.
Growing Interest in Pepe Unchained
The alternative cryptocurrency Pepe Unchained is drawing investor interest with its superior transaction speeds and lower fees. The project has raised $30.7 million during its presale in November.
Launch of Pepe Unchained Platform
Pepe Unchained is launching its platform, allowing users to utilize it for developing new decentralized applications. A staking platform offering up to 84% annual returns is also available. PEPU tokens are priced at $0.01283 each.
Dogecoin's price shows signs of stabilization despite the recent dip, while Pepe Unchained continues to gain traction in the growing meme coin market.
