Dogecoin up 40% in 3 weeks! Is there more steam left?

economictimes.indiatimes.com:

Dogecoin has been the cryptocurrency to watch out for. The largest memetoken has rallied about 40 per cent in the last three weeks. Dogecoin was flying high after the reports surfaced that Elon Musk owns a 9.2 per cent stake in the micro blogging website Twitter. This makes Musk the largest shareholder in the company. The stake in Twitter of Elon Musk, who is fondly called as the 'Doge Father' by fans, propelled a strong rise in the Dogecoin prices, with speculators flocking to the memetoken.

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Dogecoin hit $0.1553 levels on Tuesday, rising more than 5 per cent in the last 24 hours. Its marketcap topped the $20 billion mark, after a long period, the data from Coinmarketcap suggested. However, the popular crypto token is trading about 77 per cent below its all-time peak of $0.6848 hit in June 2021. On a year to date basis, the crypto token has tumbled about 20 per cent. However, market experts believe that Dogecoin is likely to continue to have positive momentum and the gains will sustain, on both technical and fundamental basis. Vikram Subburaj, CEO of Giottus Crypto Exchange, said that Elon Musk’s Twitter investment has led Dogecoin to break out from a bearish structure with price action forming higher lows and higher highs. «Doge has retested the trendline resistance and has held as support. Overcoming resistance at $0.175 and $0.195 will further indicate signs of strength. Doge faced rejection at these levels during its downtrend,» he added, decoding the charts. There is no dearth of those who are expecting Dogecoin to do a 'Twitter' again and expecting the crypto asset