Dogecoin Price Prediction as Billionaire Elon Musk Says ‘Dogecoin to the Moon’ – Is He Buying Again?
DOGE has gained by 6% in the past 24 hours, with the Dogecoin price reaching $0.1806 after Elon Musk declared “Dogecoin to the Moon” during a Q&A yesterday.
The famous meme coin has now risen by 18% in a week and by 120% in a month, as well as by 140% in the past year.
These are all healthy figures, yet Musk’s remarks in favor of Dogecoin yesterday show how much the coin could potentially rise if it receives more support from the entrepreneur and his companies.
And with the market becoming increasingly bullish in recent weeks, DOGE could see more big gains in the near future.
DOGE’s indicators continue to look bullish, with recent increases suggesting that more joy is yet to come for the long-running meme token.
Its relative strength index (purple) is rising to 70 again today after falling to 65 a couple of days ago, a sign that momentum very much remains with the coin.
DOGE’s 30-day moving average (yellow) is also very promising, given that it continues to rise strongly beyond the 200-day average (blue), a sign that the coin is in a growth phase.
And the token’s trading volume looks very promising, having risen to around $4.6 billion today, which is up from $3.5 billion a week ago and $400 million a month ago.
This suggests that demand for DOGE has surged considerably, largely as a result of the increasing bullishness of the wider market.
However, it has also spiked today in response to Elon Musk’s remarks during an appearance at Giga Berlin, Tesla’s manufacturing plant near the German capital.
Elon Musk at Giga Berlin today.
“When will I be able to buy a Tesla with dogecoin?”
“At some point I think we should enable that.”
