Dogecoin Price Prediction as Rumors Emerge of Elon's X Platform Adding Trading Features – Will DOGE Be Included?

cryptonews.com:

The Dogecoin price has risen by 1% in the past 24 hours, rising to $0.074070 amid reports that Twitter (now 'X') is working on the addition of trading features to its platform.

As bullish as this news may have been for DOGE's price, Elon Musk himself has quickly moved to deny such reporting, with the Twitter owner tweeting that "No work is being done on this to the best of my knowledge."

This denial from Musk himself has nixed any potential for a short-term DOGE rally, with the meme token remaining down by 3% in the past week, but also being up by 8% in the last 30 days.

But given that it still does seem credible that Twitter/X will add some kind of financial or payment features in not-too distant future, DOGE could be set for a big rally soon enough.

Much like the rest of the market, DOGE has seen a downturn in the past few days that looks as though it's leading up to a recovery, as the coin becomes attractively discounted as a result of overselling.

DOGE's 30-day moving average (yellow) is falling rapidly towards its 200-day average (blue), and when it drops below the longer term metric the altcoin will be due to rebound.

Looking at its relative strength index (purple), it's arguable that DOGE is already close to the point of rebound, given that the RSI has begun rising again after falling close to 30.

However, it would be premature to conclude that DOGE has finished its recent slide, seeing as how it fell through the $0.0750 support yesterday and looks like it could also test its current support level (green).

DOGE's price will also receive no help from yesterday's speculation that Twitter is in the process of building trading features, with a report in Semafor citing "people familiar with the matter."

This reporting set