Dogecoin

Frenzy

Elon Musk

<p>The post <a href="https://coinpedia.org/news/dogecoin-doge-price-on-the-cusp-of-a-bullish-liftoff-amid-meme-coins-frenzy/" rel="noopener noreferrer nofollow">Dogecoin (DOGE) Price on the Cusp of a Bullish Liftoff Amid Meme Coins Frenzy</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Dogecoin (DOGE), the flagship meme coin secured by the legendary proof-of-work (PoW) consensus method, has been gathering bullish momentum after a successful retest of the macro uptrend breakout.&nbsp;</p>
<p>The large-cap meme coin, backed by tech billionaire Elon Musk and over 7.3 million holders, has been forming a similar fractal breakout as the prior macro bull cycles.&nbsp;</p>
<p>Worth noting that most of the meme coins – led by Floki Inu (FLOKI), and Pepe (PEPE) – have experienced a notable bullish uptrend in the past two weeks.&nbsp;</p>
<p>However, Dogecoin’s price against the US dollar has been approaching the apex of an ascending triangle with a mild resistance of around $0.17.</p>
<h2 class="wp-block-heading" id="h-midterm-targets-for-dogecoin-price">Midterm Targets for Dogecoin Price</h2>
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   <p lang="en" dir="ltr">Market long <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a>, stop 0.165, target 0.175 <a href="https://t.co/52T2ISnlFV" rel="noopener noreferrer nofollow">pic.twitter.com/52T2ISnlFV</a></p>— Muro (@MuroCrypto) <a href="https://twitter.com/MuroCrypto/status/1795048475790291355?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 27, 2024</a>
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<p>According to a popular crypto analyst Munro, with over 348k X followers, Dogecoin price is on the cusp of rallying beyond 20 cents if it consistently closes above $0.175 in the coming days. Dogecoin price against the US dollar has severally retested the 50 daily Moving Average (MA) after establishing a solid support level of around 14 cents.&nbsp;</p>
<p>Having established the daily 50 Relative Strength Index (RSI) as a robust support level, it is safe to assume that the Dogecoin price is now aiming to retest the 70 level in the near term. From a macro perspective, Dogecoin price is in the early stages of the crypto bull run that will take place for the next few quarters.</p>
<h2 class="wp-block-heading" id="h-why-bet-on-doge">Why Bet on Doge</h2>
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   <p lang="en" dir="ltr">Tesla accepts only one cryptocurrency: Dogecoin <a href="https://t.co/FIvcMeurnP" rel="noopener noreferrer nofollow">pic.twitter.com/FIvcMeurnP</a></p>— DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1794941599320879405?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 27, 2024</a>
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<p>The Dogecoin community has been counting on Musk to integrate the meme coin with the X platform for payments to add to its utility and liquidity. Already, DOGE is used as a form of payment in purchasing Tesla products and has already been used to pay for a space mission with SpaceX.&nbsp;</p>
<p>As the top meme coin, Dogecoin will inevitably be adopted by more institutional investors, with some analysts predicting a spot DOGE ETF in the near future.</p>

Dogecoin (DOGE) Price on the Cusp of a Bullish Liftoff Amid Meme Coins Frenzy

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