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Intending for Another Doge Price Rally, Elon Musk Braces With a Post!

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Highlights

    Elon Musk continued to aid Dogecoin price rally by putting up yet another tweet.

    Dogecoin price surged another 12% in minutes of his tweet and appears self-assured of hitting upper resistance levels

    With the surge, the crypto community expects the DOGE price to touch $1 very soon

Elon Musk Initiates DOGE Price Rally Again!

DOGE price has always spiked notably every time Tesla CEO, Elon Musk talks about it. The crypto space was amused when dogecoin price rallied without any mentions of Tesla CEO Elon Musk. The price rallied like a monster more than 800% and entered the top 10 cryptocurrency list. 

As the rally geared up, Elon Musk jumped into action with a series of tweets to accelerate the rally, yet it appeared to be less fruitful. However, Mr Musk seems without giving, attempts to rally the price yet another time.

He conducted a poll asking for the future of cryptocurrency on earth, providing two options, Dogecoin to the moon or all other crypto combined. At the time of writing more than 584K votes has been gathered with 74.5% people choosing the first option and 25.5% people go with the other one.

Dogecoin Price Analysis – Will it hit $1?

DOGE price

The sudden spike with the DOGE price has made the entire crypto space very bullish about the asset and expect to touch new highs in 2021. Many analysts predict that Dogecoin will be the winner among all other altcoins in 2021 and may also touch $1 during the bull run.

At the time of writing, DOGE price stands at $0.04985 with a jump of 10.28 percent in the last 24 hours. Initially, the first target of the DOGE price would be to hit and cross the current all-time high at $0.018773, forming the new one.

The support levels at $0.0431 and $0.0309 are very strong and hope the asset does not revisit these levels anytime from now. The technical indicators, RSI is about 66 which indicates a bullish trend for the asset. The indicators also point out a strong buy signal, due to which the asset may touch $1 very soon in 2021.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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