Dogecoin faces bearish trend while Poodlana holds steady: what’s next for meme coin investors?

The world of meme coins continues to captivate cryptocurrency investors, with Dogecoin (DOGE) and the newcomer Poodlana (POODL) leading the conversation.

While Dogecoin, the original meme coin, faces a bearish trend, Poodlana has maintained a steady price, capturing the attention of investors eager to explore its potential.

As the two coins diverge in their market performance, the key question for investors is which one offers better growth prospects and return on investment.

Dogecoin’s struggles amid a bearish market

Dogecoin, one of the most recognized meme coins, has been struggling in recent months.

Its price has dropped significantly, falling from $0.115 to $0.096 in just two weeks.

This decline has occurred within a falling wedge pattern—a technical indicator that often suggests further downside if the trend persists.

Over the past month, Dogecoin has been stuck in a consolidation phase between $0.115 and $0.096, indicating a lack of strong buying or selling interest in the short term.

Source: CoinMarketCap

Dogecoin’s market cap has also suffered, declining from $14.2 billion as bearish momentum continues to dominate the altcoin market.

If the downward trend continues, Dogecoin could break below its critical support level of $0.091, potentially leading to an additional 11.6% drop, pushing the price to around $0.08.

However, there are signs that larger investors may be accumulating Dogecoin at these lower prices.

According to Santiment data, Dogecoin’s Market Value to Realized Value (MVRV) ratio over the past 30 days has dropped to -3.59%.

This suggests that many short-term traders are facing losses and might be tempted to sell.

Despite this, the negative sentiment and low resistance levels could attract major buyers looking for a discount, possibly driving the price back up to $0.11 or higher.

Poodlana’s steady performance

In contrast to Dogecoin’s struggles, Poodlana (POODL) has entered the market with considerable momentum.

Following a successful presale that raised $8 million, Poodlana’s price has remained relatively stable, currently trading at $0.0131.

The token has quickly gained investor attention, thanks in part to its rapid listings on major exchanges like MEXC, which boasts over six million active users and daily trading volumes exceeding $2.5 billion.

Source: CoinMarketCap

These listings have not only increased Poodlana’s visibility but also enhanced its liquidity, creating favorable conditions for potential price appreciation.

The team behind Poodlana has been proactive in boosting the token’s market presence, with swift listings on platforms like Raydium, Solana’s largest decentralized exchange, following the presale.

Poodlana’s branding as the “Hermès of Crypto” sets it apart from other meme coins.

Its premium positioning, coupled with an aggressive exchange listing strategy, suggests the possibility of further listings on even more prominent platforms like Coinbase or Binance.

If successful, this could drive a significant price surge, making Poodlana an attractive option for speculative investors.

Dogecoin or Poodlana: Which one should you choose?

Choosing between Dogecoin and Poodlana largely depends on an investor’s risk tolerance and belief in the growth potential of each token.

Dogecoin, with its established community and long-standing history, offers a more predictable, albeit currently bearish, price movement.

Should market conditions improve and larger investors begin accumulating Dogecoin, a reversal could occur, potentially offering gains of 6-8% up to $0.105, or even a breakout toward $0.15 in the coming weeks.

On the other hand, Poodlana represents a high-risk, high-reward opportunity.

Its current price stability, combined with its aggressive exchange listing strategy and potential catalysts tied to Solana’s (SOL) price action, suggests that it could be poised for explosive growth.

If SOL trends toward the $200 mark, Poodlana could see a renewed rally, potentially driving its price upward in a manner reminiscent of other meme coin booms.

Dogecoin’s performance is closely tied to Bitcoin’s price action and overall market sentiment toward altcoins, while Poodlana’s future price movements may depend more on its ability to secure further exchange listings and the performance of the Solana blockchain.

For investors looking to capitalize on new market entrants and emerging trends within the crypto ecosystem, Poodlana offers an exciting opportunity.