Dogecoin DOGE price prediction
Dogecoin (DOGE) has recently gained attention due to comments from notable figures in the crypto community. These mentions have contributed to increased interest and activity surrounding this memecoin.
Billy Markus, co-founder of Dogecoin, compared his current DOGE holdings to Bitcoin creator Satoshi Nakamoto’s Bitcoin holdings. Markus revealed that he holds less Dogecoin than Satoshi’s estimated 1.1 million BTC, worth approximately $66 billion. He stated that his DOGE holdings are worth less than $117,040.
Source: X
In a separate statement, Markus shared that he sold his Dogecoin holdings in 2015 for around $10,000. He mentioned that financial difficulties led to his decision to sell, which he later called a mistake.
Additionally, Elon Musk, the founder of Tesla and SpaceX, recently mentioned Dogecoin on his social media platform X.
Source: E lon Musk on X
Musk cryptically posted about a fictional “Department of Government Efficiency” (DOGE). Although indirect, this mention attracted his followers’ attention to Dogecoin.
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Furthermore, former U.S. President Donald Trump also contributed to the Dogecoin buzz with a viral comment during a CNN Presidential debate on Sep. 11. Trump made a controversial remark about illegal immigrants “eating dogs, cats, and all the pets.” This comment quickly spread across social media, becoming a viral joke.
These notable figures’ recent mentions have led to increased interest. An on-chain indicator shows that more people have started accumulating DOGE, indicating bullish sentiment or expectations of future price appreciation.
Dogecoin (DOGE) holders are increasing steadily. Source: Santiment Dogecoin Holders Are Increasing, Will Price Surge Follow?
At the time of this writing, Dogecoin is trading at $0.1025, up 4.92% from last week. Its resistance and support levels are $0.108 and $0.098, respectively.
Dogecoin (DOGE) Daily Price Chart. Source: T radingView
If it can break above the resistance, it may test higher levels around $0.11 or $0.115. A successful breakout above these levels could signal a bullish continuation and attract more buyers to the market.
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However, if DOGE fails to break the resistance, it may consolidate or face a pullback towards the $0.10 support level. If the price drops below this support, Dogecoin could test lower levels near $0.095, potentially increasing selling pressure.
The Relative Strength Index (RSI) is at 44.81, indicating neutral market sentiment. An RSI below 50 suggests bearish sentiment, while an RSI above 50 indicates bullish sentiment. If Dogecoin’s RSI drops below 30, it could signal an oversold condition, potentially triggering a price rebound.
The post Dogecoin Price Surges Following Key Figures’ Shoutouts appeared first on CoinChapter.
