Is Dogecoin Dead? This is When DOGE Price May Reach Above $0.1
Dogecoin price experience a lesser impact of the prevailing bullish market conditions and remained unaltered even after receiving a mention from Elon Musk
Dogecoin price was trading within a decisive phase, which was broken down during the first few days of the month to mark the lows around $0.063. However, the bulls quickly jumped in and prevented the price from dropping toward the crucial support below $0.06. Despite a rebound, the price of Dogecoin continues to stumble at $0.076, falling short of hitting the interim highs at $0.08.
The recent attempt by Dogecoin proponent Elon Musk, who also owns Twitter and Tesla, also appears to have had a moderate impact on the price. The price jumps only 4% as he mentions crypto in a proactive tweet.
Ok, but it will cost 3 Doge— Elon Musk (@elonmusk) March 23, 2023
The Dogecoin advocate and tech billionaire, Elon Musk, mentions a fee to enter Twitter headquarters and have an office tour. He asked to pay in DOGE, which of course resembles a joke tweet as he said the charges could be 3 DOGE.
After the tweet, the Dogecoin price did print a massive green candle, rising over 4% to reach $0.0785. But the very next candle dragged the price lower, which was carried forward. The price received a significant buying volume, which was further settled over the next couple of hours. At the same time, a huge transfer was recorded of about 930 million DOGE, which was moved to other wallets, equivalent to $71.9 million.
Presently, the price has slashed below $0.077 as the bulls are attempting very hard to hold back the rally above the support. However, the RSI and MACD are flashing bearish signals, due to which the DOGE price may face an interim pullback soon.