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Dogecoin Pet for a 10x overvoltage? Elon Musk’s media beating in Sparks

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This article is also available in Spanish.

Dadecoin’s price shows signs of a big potential leap, according to a recent market analysis. The cryptocurrency, known for its shiba Inu dog mascot, saw a 14% increase in its value in last week.

Merchants look closely as you approach a key resistance level of $ 0.20. If he exceeds this point, some analysts predict that he could reach $ 2, an increase of ten times compared to his current position.

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Musk’s social media influence

Elon Musk’s recent activity on social networks is again a subject of discussion. He posted an image, stylish like a Anime GhibliStarting the Dogecoin Pocho – clearly in reference to the film The Lion King – instead of a Lion Cub. This type of Musk’s message has historically caused price overvoltages.

People on the market pay special attention to see if this model is repeated. The daily trading volume for Dogecoin exceeded $ 2 billion. There is also an increase in the amount of open term contracts, which means that more people bet on its future price trajectory.

Boursière Doge is currently $ 28.8 billion. Chart: TradingView.com

Graphic models point upwards

Technical analysts envisage Dogoin price instructions for clues. A pattern, called a Cup and handlesuggests that the price could increase by ten times.

Coinglass data shows that the open interests of Doge Futures have increased by 4%, exceeding $ 2 billion, while 24 -hour liquidations increased to $ 13.82 million.

Crypto Cryptoelite Crypto Analyst underlines a cup and round pattern, suggesting that Doge is on the right track to finish the training and could see 10x gains.

Another analyst, Ali Martinez, uses the SuperTrend indicator. The breakdown of the resistance of $ 0.20 could point out a strong upward trend. Some traders even think that it could reach $ 8, if it breaks a three -month trend line. This is a fairly large number.

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Possible price stability

Currently, there is a question of the price above $ 0.20 for the rest of April. People look to see if he is consolidated at this level. This could prepare the ground for the larger jump planned.

The market is very unpredictable. It is important to remember that an increase in prices of this size, 10 times the current value, is not a safe thing. The price of the crypto can change quickly.

Publications on social networks can cause large oscillations on the market. Although the technical analysis supports the idea of ​​an increase in prices, people must be careful. They should examine many sources of information before making decisions about their money.

At the time of writing the present Exchange at $ 0.19Decreasing almost 5% in the last 24 hours, but has increased 12.7% last week, according to Coingecko data.

Star image of Gemini Imagen, tradingView graphic



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