Doginphire (FIRE) is one of the best-performing cryptocurrencies today. It easily stands out among the top cryptocurrencies in 2024. Doginphire is up by 3,744% in the month. In the last 24 hours alone, Doginphire is up by 125%. It is currently trading at $0.003454, with a market capitalization of $3.98 million.
Doginphire is a Solana-based meme coin that takes the old idea of dog meme coins, such as Dogecoin, to a whole new level. Rather than a dog wif, Doginphire is simply a dog in a fire wearing a hat.
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While there is nothing particularly revolutionary about the theme that Doginphire has adopted, the cryptocurrency’s alignment with an Elon Musk tweet is giving it so much traction.
Elon Musk is a big name in crypto and can turn any random cryptocurrency into a winner just by tweeting it. That’s what happened with Bitcoin, which he took from a few cents to a price close to $1.
With regards to Doginphire, this meme coin’s rally has primarily been driven by Elon Musk’s tweet of a fire emoji to one of Dogecoin’s co-founders. This triggered a rally as investors rushed to buy into what could be the next Dogecoin or Shiba Inu.
So far, the Musk effect has paid off for Doginphire. Since it hit the market at the beginning of the month, Doginphire has rallied by over 3800%, from lows of $0.00009191 to a high of $0.004.
Exchange Listings Are Happening
However, the Doginphire’s sustained momentum now has much less to do with the Musk effect. A key factor sustaining the rally is that more centralized exchanges are starting to list this top-performing meme coin. The latest one to announce that it is listing Doginphire is Bitmart. Bitmart announced on X that as of yesterday, it had started accepting Doginphire deposits. The exchange also announced that trading of the FIRE/USDT pair would commence on 9th February.
#BitMart will list Doginphire (FIRE) on our digital assets platform on Feb 9, 2024 🤩
💰Trading pair: $FIRE/USDT
💎Deposit: 02/07/2024 04:00 PM (UTC)
💎Trading: 02/09/2024 04:00 PM (UTC)Learn more: https://t.co/OuhFz5TMry pic.twitter.com/mU6q4RAIlD
— BitMart (@BitMartExchange) February 7, 2024
Doginphire has also got a boost from Bing X cryptocurrency exchange, which is offering a significantly high APY for anyone who stakes FIRE on the exchange. Bing X tweeted that anyone who chooses to pledge FIRE can earn up to 300% APR. This has seen more investors buy FIRE as they seek to draw the huge amounts of returns that Bing X is offering as passive income.
❗Zero Risk❗
🎁 First Principal-Protected Wealth Is Here
1⃣️ Pledge $FIRE & enjoy 300% APR @Matr1xOfficial
2⃣️ Refer new users to pledge and get instant 10 $FIRE #AirdropsJoin Now: https://t.co/Ay19SFkeNL
💰 5 winners! 10 FIRE #Giveaway each!
✅ To enter: RT and tag 5… pic.twitter.com/Spgod9cIIj— BingX (@BingXOfficial) February 8, 2024
Besides Bitmart, and Bing X, there are a lot more options available for anyone looking to invest in FIRE. Doginphire is available on some of the top Solana DEXs, such as Orca and Jupiter.
After such a parabolic price rally, it is easy to wonder what is next for Doginphire. In the section below, we look at how FIRE could trade going forward now that it has already registered so many gains.
Doginphire $FIRE Cryptocurrency Price Prediction
When going to press, Doginphire was trading at $0.003625. Trading volumes had shot up by 150% to stand at $11.36 million, while the market capitalization was at $3.98 million. In terms of price action, Doginphire has proven to be one of the top performers in the last 24 hours, up by 144%.
Looking at the charts, Doginphire is currently finding direction after bears hit a wall of buyers at $0.031, a key support level in the day. However, another leg up for Doginphire is unconfirmed. That’s until the price can break through the day’s high of $0.0044, which is now a key intra-day resistance level.
If bulls can push Doginphire through the intra-day resistance of $0.0044, then another FIRE rally could follow. Possibly another 100% or more in gains in the short term.
However, if bears lose momentum and the price pushes through the $0.0031 support, then Doginphire could be see a significant correction in the next 24-hours. In such a case, FIRE could easily test $0.0026, which is the next key support level in the short term. Breaking through the $0.0026 support could see FIRE eat up all the gains it has made recently.
Which Way For $FIRE?
While there is a scenario where Doginphire crashes as investors cash in on the gains, the rising bullish momentum in the broader market paints a bullish picture for the token. Besides, now that centralized exchanges are starting to list FIRE, more buyers could jump in and drive the price higher up as they anticipate even higher gains.
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