- Dogecoin experiences a notable 10% surge amid broader altcoin market selling pressure with a significant on-chain transaction volume of $665 million.
- Hedera Hashgraph (HBAR) demonstrates robust price momentum, recording an impressive surge of over 23% in the past month amid strong platform growth.
While the broader altcoin market has come under strong selling pressure, two altcoins Dogecoin (DOGE) and Hedera Hashgraph (HBAR) have been defying the market trend to rally further. Let’s take a look into what each of these altcoins are up to.
Dogecoin (DOGE) Price Rally
Dogecoin has experienced a surge of over 10% recently, driven by increased network activity attributed to various factors. Speculation about the Astrobotic lunar mission including „physical Dogecoin“ on the moon is a significant factor, as the space tech firm was previously funded by the Doge community.
While Dogecoin’s official X account posted about the mission, confirmation from Astrobotic is still pending. The resulting FUD (Fear, Uncertainty, Doubt) led to a spike in trades, with Dogecoin increasing over 5% in daily trading and influencing other meme coins. The meme coin’s outstanding performance is highlighted by a substantial on-chain transaction volume of $665 million.
Data from Intotheblock indicates over 2.25 billion transactions of DOGE valued at $100k or more in the past 7 days, emphasizing the impact of Astrobotic’s lunar mission on the current price surge. At the time of writing, Dogecoin is trading at $0.086, reflecting a remarkable 9% increase in the last 24 hours, with a transaction volume reaching $2.47 billion.
As Dogecoin aims for the $0.1 milestone, crucial support for bullish momentum lies at $0.0803. Maintaining this level could open the door for testing higher resistance at $0.08393, potentially triggering additional upward movement. Conversely, a decrease in momentum might prompt a test of the support level at $0.07648.
Hedera (HBAR) Price Action
Riding a different crypto wave, Hedera Hashgraph (HBAR) has demonstrated significant price momentum, experiencing a remarkable surge of over 23% in the past month. Despite October’s historical significance for crypto market bull runs, HBAR has maintained its upward trajectory, outpacing many top altcoins. The native token of Hedera Hashgraph, HBAR, reflects the platform’s robust development activity, contributing to its impressive growth.
The recent uptick in HBAR’s price is due to its involvement in the Hashgraph Innovation Program, with notable platforms like Digipharm participating. Digipharm, a prominent value-based healthcare ecosystem, recently announced its engagement in The Hashgraph Association’s „Hashgraph Innovation Programme.“
Launched in April 2022, the Hashgraph Innovation Program is a collaborative initiative with the Swiss Digital Assets Institute (SDAI), aiming to provide professional training and support for startup development.
As of the latest daily chart, HBAR is trading at $0.06, indicating a nearly 3% gain in the last 24 hours. The daily timeframe reveals an ascending channel pattern, typically signaling a bearish outlook. The current support level stands at $0.05, with resistance at $0.069.
The Relative Strength Index (RSI), hovering around 67, suggests a potential move to break out of the oversold region. If HBAR surpasses the $0.069 resistance, it may climb beyond $0.75. Conversely, a drop below the $0.060 support could trigger a bearish trend.
