Dogecoin Price Pumps 3% After Trump Musk Interview As Experts Predict New DOGE 2.0 Will Make A 10X Run
Release: 2024/08/13 17:48 Reading: 256
Dogecoin Price Surge Continues
Dogecoin has gained 3% over the past 24 hours, reaching $0.106 as of 03:34 a.m. Trading volume has also surged by 28% to $817 million.
This rally comes despite Elon Musk's recent interview with former U.S. President Donald Trump, where Trump did not mention digital assets.
Technical Analysis
Dogecoin has been experiencing a steady upward trend since August 5, according to data from GeckoTerminal. The price has broken above the rising channel pattern from $0.0878 and is now trading above the 50-day Simple Moving Average (SMA).
The Relative Strength Index (RSI) is hovering around 50, indicating equilibrium and potential for further gains. Additionally, the Moving Average Convergence Divergence (MACD) is bullish, with the blue MACD line crossing above the orange signal line.
Bullish Target and Support Level
If the momentum continues, Dogecoin could reach $0.1169, the 200-day SMA. Further gains could drive the price towards $0.138.
However, a decline in price could push Dogecoin back to the $0.095 support level.
Alternative Investment Opportunity
Some investors are looking to PlayDoge (PLAY) as an alternative to Dogecoin. PLAY is a meme coin combined with P2E gaming, particularly nostalgic 90s-style games.
PlayDoge has already raised $6 million in its presale, and analysts believe it could see a 10-fold increase in value upon launch.
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