The Uniswap (UNI) price has been on a wild ride lately, dipping to $9.0 just as it seemed poised to reach the coveted $10 mark. The decentralized exchange's token is now around 10% down from earlier session highs in the $9.80s, with no single catalyst to explain the abrupt reversal.

Broader Market Sell-Off Drags UNI Down

UNI's intra-day turn-around is in tandem with a sell-off in the broader cryptocurrency market. Bitcoin (BTC) dipped back below $67,000, having touched $72,000 earlier this week, while other major cryptos like Ether (ETH) also pulled lower.

Some analysts suggest that the market might be experiencing a sell-the-news reaction to major positive catalysts this week, such as expectations that the SEC is about to approve spot Ethereum ETFs and the passage of the FIT21 bill through the House.

Can UNI Break Through the $10 Resistance?

$10 is a key area of resistance for the Uniswap price, and it's no surprise that UNI has found strong resistance here. However, that doesn't mean that UNI's rally is over. The cryptocurrency recently broke convincingly to the north of its 21 and 50DMAs, having been stuck in a $6.50-$8.0ish range for over one month.

Reaching for the Stars at $50?

Some analysts believe that a run higher than $17 could be on the cards later this year, with the Uniswap price potentially powering back towards earlier yearly highs. The SEC's U-turn on Ethereum ETFs has sparked hopes that they might not charge the Uniswap Foundation, which received a Wells Notice from the agency earlier this year.

But could UNI go all the way to $50? Uniswap reached as high as $45 in 2021, the peak of meme coin mania during the past cycle. This cycle could blow the last cycle out of the water, however, with Bitcoin hitting new record highs and comfortably holding in this area, reflecting the fact that crypto adoption has risen leaps and bounds since 2021.

At $50, Uniswap would hit a fully diluted market cap of just over $50 billion. As the dominant multi-chain DEX protocol that continues to lead its sector forward, that's not an unrealistic price prediction.

Dogeverse (DV): A Meme Coin Alternative to Consider

While UNI could 5x from current levels in this bull market, many investors are hunting for a bigger upside of 50-100x. These investors tend to turn to the highly speculative and volatile meme coin market, which is, of course, very risky.

One meme coin that the team at Cryptonews thinks has a lot of potential is Dogeverse. Dogeverse has in-built cross-chain capabilities and is generating considerable excitement in the market, seeking to be the multi-chain equivalent of Dogecoin and launching on the six most popular blockchains (excluding Bitcoin). Dogeverse's cross-chain bridging capabilities further enhance its appeal, making it a "Doge with superpowers."

Interested investors can act quickly before the token's official launch on June 5, as the presale will end on the 3rd.