Dogecoin Price Jumps 6% As Elon Musk Praises Trump’s DOGE Support, While Traders Pivot To This $47M ICO Rival That GROK Sees Exploding
The Dogecoin price jumped 6% in the last 24 hours to trade at $0.3454 as of 02:10 a.m. EST on trading volume that surged 104% to $3.8 billion. This comes as Elon Musk praised President-elect Donald Trump for his support of the formation of the Department of Government Efficiency (DOGE). Just wanted to express appreciation for President @realDonaldTrump and so many people, both inside & outside of government, supporting @DOGE. I am confident that the American people will be happy with the outcome. — Elon Musk (@elonmusk) January 13, 2025 Dogecoin Price Gears Up For A Bullish Rally The DOGE price has consolidated between the $0.30-$0.46 range, with a support zone around $0.30. The Dogecoin price Analysis on the 1-day timeframe also shows rejection from the $0.46 resistance, forming a double-top-like structure, indicating a potential reversal. For now, DOGE is attempting to hold above its 50-day Simple Moving Average (SMA), situated at $0.3718, while the 200-day...