Elon Musk's latest tweet sparked a 16.25% surge in Dogecoin (DOGE), demonstrating his significant influence on the crypto market.
Details:
- Musk hinted at forming "DOGE" (Department of Government Efficiency)
- DOGE price jumped to $0.106, outperforming Bitcoin and Ether
- Open interest rose from $442.37M to $459.18M in one week
- Funding rates turned positive, fueling bullish sentiment
Technical Outlook:
- DOGE attempting to break 50-day EMA ($0.106)
- Potential year-end target: $0.193 if resistance is breached
Market Impact:
- Musk's influence on crypto markets remains significant
- DOGE's rally showcases its strong community support
Stay updated on Dogecoin's price movements!
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