Why You Should Care About Dogecoin ($DOGE) Right Now

Dogecoin ($DOGE) isn’t just any ol’ dog-themed meme coin. It’s the OG, the first meme coin ever, and today the one with the highest market capitalization ($24.2B).

Benzinga - As the meme coin market continues to heat up, investors are keeping a close eye on Dogecoin (CRYPTO: DOGE), the OG meme coin and the one with the highest market capitalization at $24.2 billion.

With most meme coins in the red over the last seven days, the meme coin market may be bottoming out, which is good news for those interested in a safer and less volatile investment.

While there are many meme coins to choose from, we recommend focusing on Meme Index (CRYPTO: MEMEX), a revolutionary project that will help you lose less when the market isn's not favorable and generate a hefty ROI when the market finally turns bullish.

Here's a closer look at why Meme Index is the best crypto to buy in the current market scenario.

What Happened: Dogecoin is taking support at the crucial 0.618 Fibonacci level on the monthly and weekly charts. This is a huge buy signal, as it suggests the token has had the perfect amount of correction and is now ready to continue its long-term bullish trend.

Also, on the weekly timeframe, the 20 EMA (Exponential Moving Average) is still above the 50 EMA, which confirms a long-term bullish direction.

The token is also at a crucial support/resistance zone, highlighted by the blue box in the image below, which has seen several reversals in the past.

If Dogecoin does follow a long-term bullish trend, we could see it retest its recent high of $0.48.

On the other hand, all key trend indicators, such as the 200, 50, and 20 EMAs, are sloping downwards on important short-term timeframes like the daily, 12-hourly, and 4-hourly.

It's also worth noting that the larger meme coin market isn't really rallying, either. Apart from Dogecoin, prominent tokens such as SHIB (CRYPTO: SHIB), PEPE (CRYPTO: PEPE), TRUMP (CRYPTO: TRUMP), and BONK (CRYPTO: BONK) are all in the red over the last seven days.

However, when the meme coin market is down, presales prevail. Since they haven't yet been listed on exchanges, crypto presales can provide a haven from the current volatility.

If you're looking to invest in Dogecoin and a basket of other top meme coins, you can't go wrong with Meme Index.

What Is Meme Index?

Meme Index is the first-ever provider of meme coin indexes. We've all come across the golden stock market investment strategy of putting our money in indexes like the S&P 500. Meme Index brings the same concept (that of risk-averse investing) to the meme coin space.

Meme Index has four indexes, each carrying a different amount of volatility and risk. The indexes will be updated regularly by the community through voting, and the funds will be used to provide liquidity to the indexes on DEXes.

Why Meme Index Is The Next Crypto To Explode:

Meme Index is fundamentally changing the way people invest in meme coins. By allowing investors to diversify their total investment across multiple high-potential meme coins, Meme Index reduces the overall risk exposure for each investor.

To really understand Meme Index's future potential, you must remember that meme coins are a rapidly growing investment niche. Thanks to the success stories of Dogecoin and PEPE — and more recently, TRUMP and BROCCOLI, investors from all around the world are finally realizing the potential of the best meme coins.

Meme Index offers perhaps the best investment avenue for new meme coin investors, which is why Meme Index is at the top of our list of the next cryptos to explode.

Meme Index takes the legwork out of finding meme coins that can 10x or 100x, especially in a market that has thousands of tokens.

Moreover, Meme Index's indexes are community-driven. As such, it stands in stark contrast to other projects that are being hyped up despite having no real utility.

Meme Index, on the other hand, is focused on providing value to its community in a transparent and maintainable way.

Meme Index's indexes will be updated regularly as part of a cooperative effort between the community and the team. This ensures that the indexes are constantly evolving to include the hottest and most promising meme coins available in the market at any given time.

Such real-time portfolio management is an innovation in the meme coin market and could just be the edge you need.

How To Benefit From Meme Index:

If you like the idea of buying into an index, then Meme Index's approach to meme coin investing could be for you.

Meme Index is currently in presale and has already raised over $4 million from investors. The token is priced at $0.30 during the presale, but it will be listed on exchanges at a