Dogecoin Price Prediction as Elon Musk Grants Amnesty to Suspended Twitter Accounts – DOGE Integration Coming Soon?
The Dogecoin price is up significantly in the hours following Elon Musk's announcement that he would be granting amnesty to suspended Twitter accounts. Dogecoin is currently trading at $0.08793, up 0.51% in the past hour, 8.34% in the past 24 hours and 3.20% over the past week.
The Dogecoin price has been bolstered by Musk’s continued support for Dogecoin on Twitter, as well as rumors that Dogecoin could soon be integrated into Twitter ’s platform. Dogecoin has been a favorite of Musk’s, who has named Dogecoin the “people’s crypto” and even jokingly suggested Dogecoin could be used to pay for his online polls.
Dogecoin is currently consolidating, with a Relative Strength Index (RSI) of 51.3704, and Exponential Moving Average (EMA 10) of 0.0834. This indicates buying momentum may be slowing, and Dogecoin bulls should be at best cautiously optimistic.
The Dogecoin price appears to have found strong support above $0.071 range after bouncing off the support area at least three times since the end of October, while the resistance level of $0.091 has remained relatively firm over the past week.
Technical signals suggest Dogecoin could be about to continue a consolidation phase over the coming weeks as Dogecoin investors wait for developments on Dogecoin integration into Twitter’s platform. This, of course, depends on whether the greater market moves up or down as well.
Aside from macroeconomic conditions, Dogecoin’s continued success will depend largely on the amount of support it receives from Musk and other influential figures in the cryptocurrency space, as well as further developments with Dogecoin integration into Twitter.
At this stage, however, any speculation about Dogecoin integration into Twitter is just that –
Read more on cryptonews.com
