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Cryptocurrency News Articles
Dogecoin (DOGE) Gains Attention from Notable Figures in the Crypto Community
Sep 17, 2024 at 04:32 pm
Dogecoin (DOGE) has recently gained attention due to comments from notable figures in the crypto community. These mentions have contributed to increased
Billy Markus, co-founder of Dogecoin (DOGE), recently disclosed his current DOGE holdings in comparison to Bitcoin creator Satoshi Nakamoto’s Bitcoin holdings. Notably, Markus revealed that he holds less Dogecoin than Satoshi's estimated 1.1 million BTC, which is valued at approximately $66 billion, stating that his DOGE holdings are worth less than $117,040.
In a separate statement, Markus mentioned that he sold his Dogecoin holdings in 2015 for around $10,000. He shared that financial difficulties led to his decision to sell, which he later realized was a mistake.
Moreover, Elon Musk, the founder of Tesla and SpaceX, recently included a cryptic mention of Dogecoin on his social media platform X. In a post that indirectly attracted his followers' attention to the memecoin, Musk wrote about a fictional “Department of Government Efficiency” (DOGE).
Also Read: Will Elon Musk Actually Accept Dogecoin (DOGE) Payments for Starlink?
Adding to the recent buzz around Dogecoin, former U.S. President Donald Trump made a viral comment during a CNN Presidential debate on Sep. 11. In a controversial remark, Trump spoke about illegal immigrants “eating dogs, cats, and all the pets.” This statement quickly spread across social media, becoming a subject of jest and online humor.
These recent mentions by prominent figures have contributed to an observed increase in interest among people, according to an on-chain indicator. This indicator suggests that more individuals are accumulating DOGE, potentially indicating bullish sentiment or expectations of future price appreciation.
Dogecoin Holders Are Increasing, Will Price Surge Follow?
At the time of writing, Dogecoin is trading at $0.1025, up 4.92% over the last week. Its resistance and support levels are at $0.108 and $0.098, respectively.
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.
See More: Will Dogecoin Reach $1?
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.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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