The price of Dogecoin has risen by 7% in the past 24 hours to $2.880, and the trading volume has surged by 58% to $3.9 billion. Earlier, Elon Musk said that Tesla may eventually accept Dogecoin as a payment method for its electric vehicles. In a new video at Giga Berlin Manufacturing Plant, Musk answered a question about buying Tesla cars with Dogecoin and said "at some point, I think we should allow this." Although Dogecoin is currently accepted for purchasing Tesla goods, it has not been officially confirmed whether the option to buy cars will be provided.
Dogecoin price is poised for a bullish rally. Since mid-February, the price of Dogecoin has been gradually increasing, reaching 125%. Bulls are seeking to continue the upward push as Dogecoin has broken above the upper boundary of the symmetrical triangle pattern. Dogecoin is trading above the 50-day and 200-day simple moving averages (SMAs), confirming the bullish rally. Moreover, the 50-day SMA crossed above the 200-day SMA, forming a golden cross at $0.08, confirming the ongoing bullish scenario. The Relative Strength Index (RSI) is trending upward and is approaching the 70 overbought zone, currently at 64. If the bulls maintain the current uptrend, the RSI could surge above 70, indicating increasing buying pressure.
The Moving Average Convergence Divergence indicator also confirms the bullish sentiment, with the moving average (blue) crossing the signal line (orange), representing a bullish crossover. A bullish crossover could push prices further higher as it encourages bulls to add to their positions. Moreover, the green bars on the histogram are rising above the neutral line, showing positive momentum. This is also supported by the Average Directional Index (ADX), which is currently at 15, showing that prices are heading towards a very strong trend breakout.
Dogecoin’s short-term price analysis shows a bullish bias, with bulls aiming to use the symmetrical triangle pattern to push the price higher with a target of $0.24, while also aiming for its all-time high of $0.7316. However, the ADX is trending towards equilibrium, which could allow bears to take control of the price. In this case, the price could retrace to the main support area of $0.14, acting as a buffer against downward pressure.
While Dogecoin bulls seek to add to their positions, other investors are turning to Green Bitcoin, a bitcoin derivative that is expected to surge in value during the bitcoin halving in April.
Green Bitcoin is a cryptocurrency that combines the tradition of Bitcoin with the environmentally conscious Ethereum blockchain. It offers users the opportunity to predict Bitcoin prices and earn huge returns. By staking $GBTC tokens, users can participate in predictions and receive a corresponding share of the daily staking reward pool. The project has raised $4.3 million in its current pre-sale phase, aiming to reach a goal of $4.5 million.
Unlike the original Bitcoin, Green Bitcoin provides holders with passive rewards from staking. This means that investors can earn additional income simply by holding the tokens. So far, 63% of the $GBTC tokens sold have been staked, with an annual return of approximately 119%.
Green Bitcoin is planned to be launched at the time of Bitcoin halving, promising huge returns. You can invest at a price of $0.9162 per $GBTC token, but remember that the price will rise in less than five days. You can buy $GBTC tokens on the official Green Bitcoin website, you can exchange $GBTC with ETH or USDT, or buy it directly with a bank card.
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