Dogcoin (DCOIN) Price Analysis which Exploded 615%, DOGE Competitor Meme Coin?

Bittime - Dogcoin (DCOIN) suddenly stole attention after recording a fantastic price surge of 615% in just 24 hours. So, this article will discuss Dogcoin (DCOIN) price analysis, why this memecoin is rising rapidly. Keep watching, OK!

This dog-themed meme coin based on the Ethereum network immediately became a hot topic among investors. Thanks to the strong community and transparency of token distribution, DCOIN attracts great interest from traders. 

This article will review the main factors behind the price surge, important technical levels, and the outlook for the future.

Dogcoin (DCOIN) Price Rises Rapidly

Dogcoin (DCOIN) surged from a low of $0.0007848 (around Rp. 12.63) to a high of $0.005506 (around Rp. 88.65) in just one day. 

This 615.68% increase was also accompanied by a surge in trading volume of $11.94 million (around IDR 192.13 billion), an increase of more than 778% compared to the previous day.

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DCOIN's market capitalization has now reached $5.04 million (around Rp. 81.14 billion) with a circulating supply of 1 billion tokens. This extraordinary performance shows the great potential for this new meme coin.

Dogcoin (DCOIN) Price Analysis: Support and Resistance Levels

Dogcoin (DCOIN) price analysis shows the potential price movement of this meme coin in the near future. Based on technical analysis, the following are important levels to watch out for:

Main Resistance:

• $0.005800 (approximately IDR 93.48) to $0.006000 (approximately IDR 96.60), where profit taking may occur.
• If the uptrend continues, the psychological level of $0.010000 (around Rp. 161.00) could be the next target.

Strong Support:

• $0.003000 (around Rp. 48.30), the previous buyers' consolidation area.
• The range of $0.001500 (around Rp. 24.15) to $0.002000 (around Rp. 32.20), which was previously resistance, can now function as new support.

Reasons Why Dogcoin (DCOIN) Prices Are Rising

There are several reasons why the price of this dog-themed memecoin has increased significantly. The following is the explanation:

1. Strong Community Support

The surge in DCOIN prices is supported by an active and solid online community, which is the main driver of the increase in the value of this token.

2. Transparent Token Distribution

Unlike other crypto projects, DCOIN does not presale or allocate to the development team. The entire token supply is immediately allocated to the liquidity pool, increasing investor confidence.

3. Listing on the Biconomy Exchange

With the entry of DCOIN to Biconomy Exchange, traders have wider access to trade this token, thereby triggering a surge in trading volume.

4. Stable Liquidity

PLocking 40 Ethereum (around IDR 2.09 billion) in the Uniswap liquidity pool ensures transactions run smoothly without hidden fees. This adds to the attractiveness of DCOIN in the eyes of investors.

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FAQ

1. What is Dogcoin (DCOIN)?

Dogcoin is a dog-themed meme coin launched on the Ethereum network with a community-based approach.

2. Why is the price of Dogcoin soaring?

The price increase was driven by community support, transparency of token distribution, and high trading volume.

3. What are the key Dogcoin price levels?

• Resistance: $0.006000 (approximately Rp. 96.60).
• Support: $0.003000 (approximately Rp. 48.30) to $0.001500 (approx. Rp. 24.15).

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Reference 

co-information, Dogcoin Analysis: Dogcoin (DCOIN) Skyrockets 615% in 24 Hours – What’s Driving the Surge?, accessed January 25, 2025.

CoinPedia, Memecoin Frenzy! Dogcoin (DCOIN) Explodes 500% on Ethereum – Here’s Why, accessed January 25, 2025.

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