Dogecoin price appears to be preparing to go to the moon as the Tesla & Twitter CEO, Elon Musk is yet again promoting DOGE adoption. While most of the altcoins are rallying by more than 100%, the Dogecoin rally has been restricted below 40%. As the rally has been trading flat for nearly 10 days, the bulls appear to have been accumulating strength.

The DOGE price is always boosted by Elon Musk’s mentions, and a similar effect is expected in the coming days. Musk earlier had offered McD, the world’s largest food giant to accept payments in DOGE, and in turn, he would enjoy a Happy Meal on TV. Undoubtedly, this has a minor impact on the DOGE price as the bulls are preparing for a giant move ahead.

Source: Tradingview

After DOGE/USDT price marked the lows somewhere in June 2022, it continued to produce higher highs. The price has accomplished its second cycle and after marking the lower bottom is believed to rise significantly by more than 150% over the next couple of months. The technical indicators like MACD, and RSI are slowly turning bearish in the daily time frame and hence a minor pullback could be feasible.

However, unless and until the DOGE price sustains above $0.066 which is the bottom marked in the last few days of 2022, the hope for a notable upswing could prevail.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.