Elon Musk Promotes Government Initiative Sparking Interest in DOGE
Dogecoin (DOGE) Update
- Current price: $0.3281, down slightly in 24 hours.
- Trading volume decreased by 35% to $1.27 billion.
- Elon Musk discussed a government initiative (D.O.G.E.) aimed at reducing the US federal deficit from $2 trillion to $1 trillion by 2026.
- Musk invited Dogecoin co-founder Shibetoshi Nakamoto to join the initiative, sparking interest among DOGE advocates.
DOGE Price Analysis
- Key resistance level: $0.3300; next hurdle at $0.3550.
- Support level: $0.3150; failure to hold could lead to a drop to $0.3050.
- Daily MACD indicates bearish momentum; red line above blue line suggests continued sell signal.
- 4-hour chart shows bullish potential with RSI at 46 and possible MACD crossover.
- Market analyst BlockchainBaller projects DOGE could surpass $0.48, citing ETFs under SEC review and Musk's influence.
- Investor Luciano believes reaching $1 is achievable, noting DOGE's 320% surge over the past year.