Bitcoin (BTC), the leading cryptocurrency is struggling to regain momentum and breach the $30K resistance. Meanwhile, popular meme coins, Dogecoin (DOGE) and Pomerdoge (POMD), are trending higher, capturing the attention of investors. In this article, we will discuss why meme coins are gaining traction while Bitcoin faces challenges at $30k.
Bitcoin (BTC) Fails To Reclaim the $30k Support
After consolidating above $30k for more than a week, Bitcoin (BTC) lost this support level on July 24. Since then the leading cryptocurrency has failed to break above this level. The Bitcoin drop under this level coincides with the launch of a more sustainable BTC-20 on the Ethereum network.
Despite the cryptocurrency market rallying, Bitcoin still trades under $30k. At the time of this writing, Bitcoin trades at $29,540, gaining 1.4% in the last 24 hours. Despite the drop below the critical $30k level, the number of transactions on the Bitcoin network has been on the rise.
In addition, on-chain data from IntoTheBlock shows that the volatility of Bitcoin is currently at its historical low. According to many crypto analysts, the drop in volatility signals that a significant price movement could be imminent. There would need to be a major price surge for Bitcoin to break above the $30,000 resistance.
Dogecoin (DOGE) Attempts To Break Above $0.080
The world’s biggest meme coin, Dogecoin (DOGE) has been a standout performer in the crypto market. Over the last week, the price of Dogecoin has spiked by more than 15%. The Dogecoin rally came after the meme coin was rumored to be used as a payment option on X, formerly Twitter. In addition, Elon Musk incorporated the Dogecoin symbol into the new X logo.
As a result of the rally, the Dogecoin price has increased from $0.0708 to as high as $0.0821. At the time of this writing, Dogecoin trades at $0.07949, attempting to break above $0.080. If the bullish momentum continues, the price of DOGE could break above this level. If Dogecoin reclaims this level, the meme coin could trade as high as $0.10 on sustained bullish momentum.
Pomerdoge (POMD): The Best Meme Coin To Launch This Year
There have been several meme coins to launch in the crypto space, but very few lack the appeal of Pomerdoge. This new meme coin wants to revolutionize the rapidly growing gaming and crypto sectors with its P2E crypto game.
The platform creates a global community where players can engage in competitive and entertaining gameplay. In addition to its gaming ecosystem, Pomerdoge will also feature NFT collections and the Pomerplace (a marketplace for the buying, selling, and trading of valuable in-game items).
Pomerdoge prioritizes user safety as it has been audited by SolidProof and Cyberscope. With over 3 billion people globally invested in online gaming, Pomerdoge anticipates a continuous influx of users that will drive the value of the POMD token. Currently, in stage one of its token presale, POMD is priced at $0.007, allowing investors to maximize their returns.
Find out more about the Pomerdoge (POMD) Presale Today
Telegram Community: https://t.me/pomerdoge
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