Dogecoin Price Prediction: DOGE Is in a Race Against This XRP Rival to Get to $1 Who Wins?

Dogecoin’s relative strength has seen it become the subject of investors’ attention once more, especially with its price holding steady above the 200-week Exponential Moving Average (EMA).

On-chain metrics provided by Santiment indicate increasing whale activity and a spike in active addresses, leading most individuals to believe that the token will increase further soon. At the same time, an “XRP rival” named Remittix is gaining traction due to its bold plans for cross-border finance.

Both projects are looking to break the much-coveted $1 barrier. In the following, we discuss Dogecoin’s present scenario and analyze why Remittix may be an unlikely competitor in the race for a significant price milestone.

Dogecoin: Bulls Eye the $0.22 Threshold

As of Wednesday, Dogecoin (DOGE) was trading at around $0.168 after it bounced off the 200-week EMA support level of $0.136 recently. This support level was successfully able to keep higher selling pressure at bay, and it indicates that the buyers are still in very firm control.

If DOGE can end the week above $0.181, it may set its sights on the next resistance area of $0.220 a zone that coincides with past highs.

On-chain data provided by Santiment shows that there is a significant increase in the number of whale addresses holding at least 1 million DOGE tokens.Whale balances have increased by roughly 1.24% over the past couple of weeks.

Active addresses have also reached a four-month high at over 150,000 wallets. This increase in utility and network activity lends some fundamental support to the memecoin’s rally.

Technically, on the weekly chart, the Relative Strength Index (RSI) is slightly under 50 but is flattening, a sign of weakening downward momentum. Traders consider this an opportunity for the RSI to rise above 50, a prospect that would confirm additional gains.

However, in the case that DOGE encounters enormous selling pressure, a drop below $0.136 would be considered weak and might jeopardize short-term bullish expectations.

Lastly, Dogecoin’s push to the $1 mark depends on whether the memecoin mania can come back. If retail traders and whales can unite as they have in past cycles, DOGE may test more levels. However, with new competitors in the market, being a recognizable “meme” may not be enough.

Remittix: The Cross-Border Challenger Poised for Growth

Whereas DOGE attempts to regain its former glory, Remittix (RTX) is working towards something much bigger: revolutionizing the $190 trillion cross-border remittance industry.

During its ongoing presale, Remittix has been able to sell over 519 million tokens, raising over $13.9 million and providing early purchasers with staggering profits. This momentum can keep increasing even further, with analysts predicting another 200% surge next month.

Currently priced at $0.0734, Remittix allows users to convert over 40 cryptocurrencies into fiat and send payments worldwide within seconds.

As Ripple focused on large financial institutions early in its trajectory, Remittix’s consumer-first approach may result in quicker grassroots uptake. If presale hype is any indication of real-world use, Remittix could surpass other tokens mired in long development or based on incremental improvements.

Which Token Could Reach $1 First?

Dogecoin’s enduring popularity and strong network statistics provide it with an excellent opportunity to regain its past glory. In the past, with enough social media hype or support from celebrities, DOGE has succeeded in proving its critics wrong.

A swift rally above $0.22 would likely strengthen the notion that the $1 milestone is within reach, particularly if overall market sentiment turns bullish.

Remittix, on the other hand, offers a realistic use case that addresses real-world issues in finance: slow, fee-heavy remittances.

Its token’s increase from $0.0734 to $1 would require heavy adoption and consistent demand, but Remittix’s down-to-earth strategy has analysts intrigued. With growing numbers of users discovering near-instant crypto-to-fiat exchanges, they could drive RTX’s market capitalization.

Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix