DOGE is going crazy! Is Elon Musk the driving force behind it?
DOGE has been very popular these days, rising 10% every day, just like riding a rocket! Everyone is guessing whether this surge in DOGE has something to do with Elon Musk. After all, this Tesla boss is a die-hard fan of memecoins and often praises them.
However, although DOGE has risen sharply, the technical indicator of RSI shows that it may have risen too much and is a bit overbought. This indicator is like a thermometer. If the reading is too high, it means that the market is too hot and may need to cool down, that is, to pull back.
Now DOGE's trading price is almost $0.13, and its market value has exceeded $18.6 billion. It is really beautiful! However, other memecoins with DOGE are not so lucky, and they are not rising so sharply.
Some analysts are even more exaggerated. They predict that DOGE will rise to $10 in the future! This is simply an astronomical figure! However, this prediction requires the market value of Dogecoin to reach more than 1.4 trillion US dollars. It feels like a pipe dream, and many people don’t believe it.
