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The meme coin mania that captivated the crypto community in recent weeks appears to be cooling off, with Dogecoin (DOGE) down 17% this week.

However, even as the broader meme coin market experiences a decline, there are always some outliers that continue to thrive. Case in point, the cat-themed meme coin MEW, which has surged over 100% during the same period.

This dichotomy in the meme coin sectors suggests that while the overall enthusiasm for these speculative assets may be waning for the time being, there are still opportunities for investors to capitalize on  the meme coin market. In addition to these meme coins, NuggetRush, which just completed a successful presale, combines the fun of gaming and crypto mining.

Dogecoin (DOGE) price broke out of the long-term descending triangle channel in late February, experiencing a quick pump from $0.08 to $0.2.

However, DOGE has been struggling to successfully break the $0.2 resistance ever since. The meme coin briefly surpassed this level and traded around $0.22 in late March, but has since retraced to the current levels of $0.17.

But, what do technical indicators suggest?

The MACD line is currently below the MACD signal line, indicating a bearish momentum. The RSI across all time frames is around 50, suggesting a neutral sentiment. The EMA20 is at $0.176, providing support.

Additionally, the 200-day moving average at $0.095 represents an even stronger support level for DOGE.

Based on Fibonacci levels, the next significant target for DOGE is $0.33, which aligns with the 1.618 Fib extension level. The most ambitious target, according to Fib levels, is $0.67, which corresponds to the 4.236 extension. 

Given the upcoming DOGE Day on April 20th and the historically positive performance of DOGE in April, the meme coin community is excited about the possibility of DOGE reaching $0.42, which would be in line with the DOGE date.

However, technical indicators are not promising and investors should look out for retests and corrections in the $0.13-0.16 area as well. 

MEW, or “Cat in a Dog World,” is a meme coin launched on the Solana blockchain. The project has quickly gained attention as one of the new coins to watch in the meme world.

The total supply is 88,888,888,888 MEW tokens, of which 90% were allocated to the liquidity pool and 10% were airdropped to the Solana community.

MEW’s performance has been pretty impressive. The token’s price increased by 459% in just four days after its launch to reach an all-time high of $0.01. At its peak, MEW had a market cap of $867 million, making it one of the most traded cryptocurrencies in the world. 

However, the meme coin has since retraced to around $460 million market cap, which may present a potential entry point for investors eyeing this meme coin for April gains.

The rise of MEW and other cat-themed meme coins represents a shift in the meme coin market, with cats becoming the latest hot trend on decentralized exchange (DEX) platforms.

NuggetRush (NUGX) is a new DeFi project that combines play-to-earn (P2E) gaming, crypto trading, and artisanal mining on the Ethereum blockchain. The project features an NFT gaming platform that rewards users with an exciting gaming experience and allows them to earn while playing.

NuggetRush recently concluded a multi-month presale, during which the project raised around $3.5 million and sold over 270 NUGX tokens.

The presale is now finished and sold out, and investors who participated should expect their NUGX coins to be airdropped in the next two weeks. 

Even though the presale is complete, the project is preparing for official DEX listings later this month, and NUGX tokens can still be purchased directly from the NuggetRush website.

As the player, you’ll manage your own mining operation, beginning with a small plot of land and basic equipment.

Players will navigate a richly detailed virtual landscape, searching for areas with high mineral potential, and engage in various activities, including digging shafts, setting up tunnels, and operating machinery to extract valuable minerals and assets. 

The game’s immersive environment, realistic mechanics, and engaging progression systems are designed to keep players engaged and encourage them to continuously improve their mining operations, explore new territories, and compete for the highest yields.

In addition to the gameplay, NuggetRush features non-fungible token (NFT) characters that can be staked, with stakers receiving up to 20% APY.

These NFTs can also be traded in the peer-to-peer (P2P) marketplace for profits. Additionally, the project offers RUSHGEM NFTs, which can be redeemed for real gold and delivered directly to gamers.

All in all, Dogecoin (DOGE) remains a resilient player, with its upcoming DOGE Day and historically strong performance in April keeping the community excited. Meanwhile, the rise of cat-themed meme coins, exemplified by MEW, showcases the shifting trends in the meme coin market.

As for the newcomer, NuggetRush (NUGX), the project’s unique blend of play-to-earn gaming and crypto mining utilities has garnered significant interest, with its recently concluded presale and upcoming DEX listings likely to attract further attention from investors.

So, the meme coin mania may be cooling off in general, but these three coins demonstrate that there are still opportunities for investors to capitalize on the meme coin market in April and beyond.

For all things NUGX visit Nugget Rush website.

The post Meme coins to watch in April: Dogecoin (DOGE), MEW and NuggetRush (NUGX) appeared first on Invezz

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