Dogecoin Price Prediction as DOGE Hits $0.10 – Can it 10x From Here?
Dogecoin (DOGE), the cryptocurrency that powers the dog-meme-inspired decentralized crypto payments-focused Dogecoin blockchain, has been in the global headlines in the past few days, sending its price surging to its highest level since last December. Price predictions have thus become more bullish.
Behind the surge was Twitter CEO Elon Musk’s decision to replace the Twitter logo within the application/website with the picture of the Shiba Inu dog that functions as the Dogecoin logo.
Musk, who bought out Twitter last year and is mulling implementing crypto payments into a future Twitter-based payments system, is a known fan on Dogecoin, having touted the meme cryptocurrency’s benefits going back to 2021.
DOGE/USD has pulled back from earlier session highs amid profit-taking and was last changing hands in the $0.0950 area. But it was trading close to the multi-month highs it printed on Monday in the mid-$0.10s earlier in the session.
Dogecoin’s latest Twitter logo-fuelled pump has seen the cryptocurrency rally substantially above its major moving averages, all of which reside in the $0.075-0.08 area, and means DOGE is now around 50% up versus its mid-March lows in the $0.0630 area.
The latest pump also means that Dogecoin has now hit the bullish target (the early February highs in the $0.10 area) that technicians have been calling for since the cryptocurrency broke above its February/March downtrend late last month.
Prior to the latest pump, Dogecoin had been struggling to keep pace with a broader Bitcoin-led crypto market rally as a result of 1) worries about a US (and global) bank crisis and 2) bets that the Fed will soon end its rate-tightening cycle and begin rate cuts.
Dogecoin can certainly remain supported in the near
Read more on cryptonews.com
