Let’s talk about Doge price analysis. The recent bad situation for Elon Musk’s favorite cryptocurrency Dogecoin (DOGE) has changed in a short time. After DOGE reached up to $0.71, it fell hard with Elon Musk’s comments on the Saturday Night Live program, and even the $ 0.30 level was tested.
Elon Musk Continues to Support DOGE
While cryptocurrency investors thought it was time for DOGE to drop, Elon Musk again took steps that would affect the whole market. Tesla and SpaceX CEO announced that they will no longer accept BTC payments as Tesla, citing the energy consumption of Bitcoin.
Musk’s BTC interpretation, on the other hand, negatively affected the crypto money industry, causing the price to fall to $45,000 with the FUD. The loss of billions of dollars in the cryptocurrency industry only with Musk’s tweets led the famous billionaire to have too many enemies.
A campaign has been launched to delist Dogecoin from the Binance cryptocurrency exchange and it is known that Elon Musk is solely responsible for these. However, Musk’s statement that he is working with DOGE developers and that Coinbase will list DOGE in the coming weeks has raised the price above $0.50 again. So now, what progress will it be for DOGE?
Considering the DOGE comments of the experts, it is seen that DOGE is said to be in a very good condition right now. Popular analyst Altcoin Sherpa emphasized in his analysis published about DOGE that the price was holding support and the target for the continuation of this was $0.62.
DOGE Price Analysis
In the continuation of this, DOGE can reach the level of $0.73 and switch to the exploration phase. Especially the support provided by the 0.618 Fib point is critical for DOGE and falling below that could spoil everything. Despite this, Musk’s successive good news and statements suggest that the resistance may be broken.
If the DOGE price repeats its previous rise, it will pose a serious threat to BNB. Although BNB, which has a market value of $ 98 billion, could not be surpassed before, DOGE’s finding $ 1 with a new FOMO may cause it to surpass BNB.
The point that DOGE investors should pay attention to here is known as $0.50 support with $ 0.62 resistance.