"DOGEN Surges 566%: New Meme Token Rival Challenges SHIB and DOGE"
1min read Meme tokens, once dominated by Shiba Inu (SHIB) and Dogecoin (DOGE), are seeing new contenders emerge. DOGEN, a meme token built on the Solana blockchain, has caught the attention of investors with its impressive performance and potential.
Since its listing on Raydium DEX on February 4th, DOGEN has experienced a remarkable 566% increase from its lowest presale price of $0.0003. The token hit an all-time high of $0.0066 before stabilizing around $0.002. Despite the stabilization, DOGEN's fully diluted valuation (FDV) stands at $28 million, with a projected upside toward $40 million, suggesting a potential price target of $0.004+ in the near term.
Technical indicators show that DOGEN is testing key support within a descending channel. A break above $0.0032 could reverse the current downtrend, setting the stage for a strong bullish move toward $0.0056, aligning with previous resistance levels. Additionally, a planned major exchange listing is expected to inject fresh liquidity and increase the accessibility of DOGEN, which could serve as a key price catalyst for the meme coin.
The DOGEN community has buzzed about the token's potential to become a leading memecoin on Solana, with some speculating that it could reach a market cap exceeding $100M. With increasing speculation ahead of its CEX listing, the probability of retesting its $0.005 ATH—or breaking beyond—is rising. If momentum continues, DOGEN could enter a parabolic price discovery phase, with values exceeding its current FDV ceiling.
While DOGEN has gained significant attention, other meme tokens are also making waves in the crypto market. Dogwifhat (WIF), a new dog-themed meme coin on the Solana blockchain, has attracted interest due to its unique theme and growing popularity. BONK, a meme coin built on the Solana blockchain, has surged over 100% after a Coinbase listing and serves as a "community coin," airdropping 50% of its supply to participants in Solana's NFT and DeFi sectors. Floki, initially a meme
