Ethereum

Dogecoin

Memecoin

<ul> 
 <li>Dogecoin sees minor recovery after Elon Musk’s tweet sparks community optimism.</li> 
 <li>Analysts suggest DOGE could break out if it closes above $0.10.</li> 
</ul> 
The cryptocurrency market has been in a bearish trend for the past month, with major cryptocurrencies and altcoins hitting new lows. Last week saw significant declines, with Bitcoin falling to a one-month low of $52,500 and Ethereum to $2,150 on the same day. However, the past 24 hours have shown signs of recovery, with the global market cap rising to $1.96 trillion, marking a 1.13% increase, and trading volume surging over 31%. 
The memecoin market has also experienced significant declines. Dogecoin (DOGE), the leading <a href="https://thenewscrypto.com/what-memecoin-investors-need-to-know-amid-major-declines/" target="_blank" rel="noreferrer noopener">memecoin</a>, hit a 32-day low of $0.08893 three days ago. However, in the past 24 hours, it saw a 2.34% increase, pushing the price to $0.09824, following a tweet by Elon Musk, which indirectly referenced DOGE. Musk tweeted “Department of Government Efficiency,” sparking speculation within the Dogecoin community. 
Meanwhile, prominent <a href="https://thenewscrypto.com/crypto-exchange-woo-x-introduces-revolutionary-copy-trading/" target="_blank" rel="noreferrer noopener">crypto</a> analyst Ali also weighed in, suggesting that Dogecoin could be poised for a breakout. Ali <a href="https://x.com/ali_charts/status/1833032677475147849" target="_blank" rel="noreferrer noopener">pointed</a> out a potential bullish trend, stating that a sustained close above $0.10 could propel DOGE to $0.15. 
Despite the overall bearish sentiment, Dogecoin has seen a rise in social sentiment and engagement, which could positively impact its price action. Over the past month, DOGE is down 6%, but its recent uptick in trading volume—up 22% in the past 24 hours—has brought renewed optimism. 
<h3 class="wp-block-heading" id="h-can-doge-surge-past-0-11">Can DOGE Surge past $0.11?</h3> 
Technical indicators show Dogecoin in a precarious bullish <a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noreferrer noopener">trend</a>, with the 9-day Exponential Moving Average at $0.09748 and the Relative Strength Index (RSI) at 47, nearing an oversold condition. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcRZm6FMdxkk0xIIojwE-RbR8eJ4bLcvElG2X-wQUKmKHyt9sLKaHQAM1ZWRgsAv80wb5stBt6Pd9XoRYJiWtMEBlghjK8kLW6PFGbXk_m6E_qFjO0VAkvcIISH0JQPt20srZEDk-Q19pvQWqBswNuWkFMb?key=aGM2DJvx3mExk5oXkEWxsw" alt="">
 <figcaption class="wp-element-caption">
 DOGE Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div> 
Key resistance levels lie at $0.10698 and $0.11656, while support could be found at $0.08887 and $0.08035 if the bearish trend continues. Traders are closely watching for a potential reversal or continued strength in the days ahead. 
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Could Dogecoin (DOGE) Lead the Next Memecoin Rally?

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