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Dogecoin Set For 10x Surge? Elon Musk’s X Post Sparks Hype

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Dogcoin price shows signs of a potential big leap, according to the last market analysis. The encrypted currency, known as the Shiba Inu Dog, 14 % increase In its value last week.

Traders are closely monitoring, as it approaches a major resistance level of $ 0.20. If this point exceeds, some analysts expect to reach $ 2, with a ten -fold increase from its current location.

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The effect of social media in Musk

The latest Elon Musk activity on social media is the subject of discussion again. Publish a picture, designed like a Anime ghibliPoch Dogecoin – clearly in reference to the movie The Lion King – instead of the lion cub. This type of publication from Musk historically causes prices to rise.

People in the market pay close attention to knowing if this style is repeated. Dogecoin's daily trading volume exceeded two billion dollars. There is also an increase in the amount of future open contracts, which means that more people are betting on the future price track.

Doge Market Cap is currently at $ 28.8 billion. table: Tradingvief.com

Graphic patterns indicate upward

Technical analysts were looking at the DOGECOIN price plans for the guide. One pattern, called a Cup and handleIt indicates that the price can rise ten times.

COINGLASS data shows that the open interest rate has increased by 4 %, exceeding two billion dollars, while the references jumped 24 hours a day to $ 13.82 million.

Crypto Analyst Cryptoelites refers to a pattern of a cup and standing, indicating that Doge is on the right path to complete the composition and can see 10x gains.

Another analyst, Ali Martinez, uses SuperTrend. Fracture of the resistance of $ 0.20 can indicate a strong upward trend. Some traders even believe that it can reach $ 8, if the trend line is broken for three months. This is very large.

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Possible price stability

Currently, there is a talk about the price exceeding $ 0.20 for the rest of April. People are observing to see if it is integrated at this level. This can pave the way for the expected bigger jump.

The market is very unpredictable. It is important to remember that the increase in prices in this size, 10 times the current value, is not a certain thing. The encryption price can change quickly.

Social media functions can cause great fluctuations in the market. While technical analysis gives some support to the idea of ​​high prices, people should be careful. They should look at many sources of information before making any decisions about their money.

At the time of writing this report, it was Dogecoin Trading at $ 0.19It decreased by approximately 5 % over the past 24 hours, but it has maintained a 12.7 % increase last week, data from Coingecko appears.

Distinctive image from Gemini Imagen, the tradingvief chart

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