The price of Dogecoin has risen by 30% in the past 24 hours to $0.12509, and the trading volume has surged by 215% to $5.85 billion. The rise comes after a series of tweets from “Doge Dad” Elon Musk sparked optimism about the meme coin. In a tweet yesterday, Musk shared a video posted by Dogecoin UX/UI designer DogeDesigner (@cb_doge) about the possibility of dating on X. He also retweeted another post from DogeDesigner focusing on audio and video calls on X. Now you can make calls on the platform without sharing your phone number. Go to Settings ➤ Privacy & Security ➤ Direct Messages ➤ Enable Audio and Video Calls. Earlier, he also sent a tweet that only said “Okay, I’ll get back to making memes.” These tweets have reignited optimism in the Dogecoin community about the potential of integrating DOGE into X for payments, which avid supporters believe could significantly increase its value.
Dogecoin price breaks out of symmetrical triangle
DOGEUSD chart analysis Source: Tradingview.com
Dogecoin price had been trading in the $0.07 range from June to October 2023. However, since November, the price gradually increased but encountered some resistance at $0.0107, causing the price to fall back to the $0.075 support level. However, the bulls continue to show resilience, using the symmetrical triangle to push the price higher. DOGE is trending bullishly and trading above the 50-day and 200-day simple moving averages (SMAs), confirming the bullish momentum. Moreover, the relative strength index (RSI) has risen from the 50 midline to 87 in the overbought zone, indicating strong buying pressure.
Moreover, the Moving Average Convergence/Divergence (MACD) indicator also supports the bullish sentiment with the moving average (blue) crossing above the signal line (orange), which is a sign of a bullish crossover. In this case, the crossover helps investors to increase their positions as the price is expected to surge higher. The green bars on the histogram also show positive momentum as they form above the zero line. Moreover, the Stochastic Oscillator 14 3 3 line (green) is crossing above the trigger line (orange), confirming the bullish moving average crossover and the upcoming bullish run.
Dogecoin Price Prediction
In the long term, Dogecoin price analysis shows a bullish bias, with bulls pushing the price above the symmetrical triangle pattern. Moreover, the 50-day SMA is crossing above the 200-day SMA, forming a golden crossover that could push the price up to $0.14. However, the RSI has entered the overbought zone with an index of 87, which could mean an impending correction and the price could retrace slightly to $0.083, in line with the 50-day SMA. Meanwhile, as the bull run on Dogecoin continues, investors are also keeping an eye on Sponge V2, another meme coin after its predecessor Sponge V1 skyrocketed 100 times last year.
Buy $SPONGE V2 and get 100 times the return
If you missed the opportunity to see $SPONGE surge 100 times last year, don’t worry, because you still have a chance to buy it before it goes public.
Sponge V2
Last year, Sponge saw huge success, attracting more than 13,000 holders and reaching a market cap of $100 million.
You are not ready for it yet
$SPONGE
#Web3
#Crypto
#MemeCoin
#Alts
pic.twitter.com/RA9AKTddyg
— $SPONGE (@spongeoneth)
February 27, 2024
Sponge V1 was discontinued on February 5th, and holders of $SPONGE were moved to Sponge V2 on the more secure Polygon network.
Notice,
#SPONGERS
!
Here are some of the
$SPONGE
Important information for V2!
$SPONGE
V1 has been officially discontinued, and V2 is now in
#Polygon
On to start!
Learn more about the token details
https://t.co/TCdxgXx40w
1/3
pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth)
February 6, 2024
Buy and stake $SPONGE V2 and get rewards
You can also realize passive income by staking $SPONGE V2 tokens, which has an annual interest rate of 755% on the Polygon network. More than 12 million V1 tokens have been staked and bridged to Sponge V2. The team also plans to launch Sponge Racer, a game with free and paid versions. This game will allow players to participate in racing competitions and receive token rewards. Jacob Bury, a well-known cryptocurrency YouTuber, believes that Sponge V2 is expected to skyrocket 10 times when it is released.
To participate in the presale, visit
Official Sponge V2
website and link your digital wallet to exchange your ETH or USDT for V2 tokens. You can also purchase directly with a bank card.
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