The price of Doginphire it shot itself more than 8.170% over the past week to trade at $0.003551 at 8:45 am EST as investors rush to buy the new meme coin.
Doginphire price breaks out of a bullish channel
1-hour chart for FIRE/USDT (Source: TradingView)
He doginphire The price broke out of a short-term positive price channel that formed on its hourly chart over the past few hours. This has resulted in the meme coin’s value oscillating around the $0.003442 support level. It has already broken below this key price point twice in the last 5 hours, but the bulls were able to push its price back up.
If you close an hourly candle below this mark, you may risk falling to the next support level at $0.002395 in the next 12 hours. This bearish thesis could be invalidated if the crypto recovers to pull back within the ascending price channel in the coming hours. In this alternative scenario, Doginphire price may continue to rise until reaching new highs.
Room for Doginphire price to rise
The Relative Strength Index (RSI) indicator on the FIRE 1-hour chart shows that the meme coin is closer to the overbought territory than the oversold territory. Despite this, there is still great potential for improvement for the cryptocurrency. There is also a lot of buying pressure present on the crypto chart, which is evident by the large wick below the current hourly candle. Both of these factors could be a sign that the price of the meme coin will rise over the next 24 hours.
An airdrop investors won’t want to miss
welcome to #SMOGNoble adventurers! 🐉✨
The time has come for a grand ceremony under the watchful eye of the dragon! 🏰
Let the search begin! 🔍 pic.twitter.com/22npUXx2Z5
-SMOG (@SMOGToken) February 6, 2024
Building on the success of recent releases such as Bonk, Honk, Myro and Dogwifhat, Smog Their goal is to achieve unprecedented success with a turbocharged airdrop campaign.
SMOG holders will gain access to an expert crypto community, which aims to be a catalyst for unstoppable virality in the meme coin space. Through this group, holders will be introduced to sustained interactive multi-airdrop campaigns that will gamify the token holder experience.
This will include buying and selling SMOG in exchange for airdrop points.
SMOG puts emphasis on rewarding token holders
The exact details surrounding the airdrop campaign have yet to be revealed, but an in-depth look at the project’s tokenomics shows that a whopping 50% of the supply is designated for use in marketing efforts.
In addition to this, 35% of the supply has been allocated for future airdrop rewards. The project’s supply will also see a reduction at launch, giving it a stronger start compared to previous Solana meme coin pumps such as BONK, which remains up over 895% year-to-date. .
SMOG can be purchased here.
New crypto mining platform: Bitcoin Minetrix
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free Bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 50% APY