Dogecoin has recovered around 0.31 US dollars again in the last 24 hours. This back rash comes after a 10-day decline, that saw that it deleted most of his profits In the first half of the month. However, the bulls were again able to defend the support level of $ 0.31 to prevent further price returns.
With the successful back rash Now it looks like it’s doneThe next question is whether it can maintain this positive dynamic and interrupt the $ 0.4 brand and the range of $ 0.3 can remain forever. Accordingly A analyst on The TradingView platform, the combination of Elon Musk’s influence, technical indicators and trends in the wider crypto ecosystem means that Dogecoin will soon shoot above this level.
The Dotecoin price pump over 0.4 US dollars is imminent
Dotecoin still has to get a strong crucial step over 0.4 USD in this market cycle and has spent most of the time between 0.3 and 0.4 US dollars. According to the knowledge of the crypto analyst Madwhale, This could change soon surrounded with the latest market dynamics Dogecoins role in the crypto industry.
Number one, Dotecoin has achieved considerable importance In addition to billionaire Elon Muschus. Musk’s singing support has increased Dogecoin’s position of only the best -known Meme coin under thousands and made it a staple in its business companies. His upcoming blockchain payment platform, XMoney, will integrate the meme coin in its companies, including Tesla and SpaceX. This initiative could increase the demand for Doge and further consolidate its relevance in the Musk ecosystem outside the crypto industry.
In addition, Musk’s connection with Donald Trump and her joint commitment with the cryptocurrency attracted attention before and after the US elections. This collaboration has Increased interest in cryptocurrenciesHowever, Dogecoin is one of the main beneficiaries of this interest.
Technical indicators and market impulses indicate pumps over 0.4 USD
From a technical point of view, analysts have predicted various bullish price goals For dotecoin with technical indicators and market cycles. This feeling was also reproduced when analyzing the DOGE pump over 0.4 US dollars. A decisive break above the upper trend line of its current channel would consolidate the optimistic prospects, even if it tests the trend line again.
After all, Dogecoin is bound to broader technology trends and the crypto room and is in a first -class position to benefit from that booming artificial intelligence industry. It is expected that this rise of artificial intelligence will influence cryptocurrency trade and market dynamics in the future. In view of the active role of Musk both in artificial intelligence and in the crypto, Doge from AI progress could benefit and see that Dogecoin is integrated into the combination of the two industries. This could in turn be the last pressure required to maintain a step over $ 0.4 and to achieve a new price of ever over $ 0.7316.
At the time of the letter, Doge is $ 0.33 and has risen by 6% in the last 24 hours.
Selected picture of Adobe Stock, diagram of tradingview.com