A pseudonymous crypto trader on Sunday said that while other meme coins are seeing a bullish momentum, Dogecoin DOGE/USD is yet to break out of its current trading range.
What Happened: Crypto Tony told his 293,000 followers on Twitter that while several other “memecoins” such as Pepe Coin PEPE/USD, MONG, BOB, and TURBO are "pumping to oblivion, but the OG sits tight in this range."
The chart plotted by the trader shows DOGE hovering between $0.070 to $0.094.
See More: Is Bitcoin a Good Investment?
Why It Matters: Despite the apparent lack of significant movement, Crypto Tony remains optimistic and believes that “Doggo,” as the original meme-based cryptocurrency is affectionately referred to by the community, will soon have its time to shine.
"Do not worry Doggo, your time to shine will come soon, but first break you will need to break up from this range high," the trader tweeted.
Dogecoin, which was created as a joke in 2013, gained a significant following and has been embraced by many prominent figures, including Twitter Chief Elon Musk.
Price Action: At the time of writing, DOGE was trading at $0.074, down 3.16% in the last 24 hours, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
