Dogecoin, the top dog meme coin, has done it again and has winged its way by more than 4% following a Twitter post by Tesla CEO Elon Musk that read: “X AE A-XII loves Doges” with a video showing his son playing with Shiba Inu dogs.
Musk’s son X posted pictures via Twitter showing their identical haircuts. The billionaire admits to cutting both his own as well as his son’s hair. Twitter user @cb_doge found some old photographs from Tesla and was able compare Musk with his son.
Business Insider reported last June that Tesla’s billionaire fathered twins with Shivon Zilis (Nuralink executive). Musk has more than 10 children to date.
Dogecoin’s Price Rises by More Than 16%
X is Musk’s child with Claire Boucher, a Canadian pop star. After having their second child, Musk and Boucher split.
Tesla CEO Stephen Tesla also announced that he and his Floki-Inu dog will post another photo together on Tuesday.
Following Musk’s amusing tweet, DOGE token has surged by more than 16%. Musk was facing a $258 billion lawsuit in June alleging that he participated with crypto-pimp scheme fraud.
Dogecoin bulls exhibited a strong buying pressure that was spotted in the support zone at $0.06. The red, or Point of Control (POC), was somehow activated by this revival. DOGE offers near-term gain to overcome volatility.
DOGE Bullish, Expect More Gains
DOGE’s four-hour chart shows a bullish pattern as sellers face threats. DOGE currently trades at $0.0727. That’s an increase of 3.61% overnight.
After breaking through the resistance line of $0.07, Dogecoin was able to shave roughly 21% off its TVL which paired with the coin’s weekly lows seen on July 26.
DOGE’s bullish sentiment was evident over the past few days. A bearish trend reversal could occur in the $0.0715 to $0.071 range. The bears may appear in the $0.073 to $0.076 range, posing a challenge.
Similarly, DOGE’s RSI reached the overbought zone as of this writing. The nearest resistance zone is likely to see a reversal. The Volume Oscillator showed an even more bullish divergence, triggered in part by higher buying volumes and the dips of the last few days.
DOGE may see a bullish breakout and could reap additional gains, leading to a near-term reverse.
Source : TradingView.com| Source: TradingView.com Featured Image from Analytics Insight. Chart from TradingView.com