Dogecoin Surges Past $0.10 Amid Renewed Support from Elon Musk

Dogecoin, widely regarded as the undisputed leader among meme coins by volume, has once again surpassed the $0.10 mark. This achievement comes amid discussions about when it would cross this threshold again, and it appears to have done so. Elon Musk has recently resumed his open support for DOGE, increasing his related posts, which has not gone unnoticed. Amidst all this, the rise in DOGE has caught the attention of analysts, prompting two different experts to share their new comments.

DOGE Comments

Elon Musk’s renewed association with DOGE and the rise in Bitcoin $104,821‘s price have contributed to DOGE surpassing $0.10 again today, as reflected in the charts. What stands out in this process are the analysts’ comments. First, an X user known as Master Kenobi shared a chart and commented on DOGE’s price movement.

Master Kenobi made the following comments:

The DOGE bear market has consisted of three major downtrend cycles. Coincidentally or not, the first cycle lasted 540 days, approximately 1.5 years; the second lasted 364 days, exactly one year; and now we are completing the third downtrend cycle, which has lasted about 182 days, or half a year. This pattern might suggest that the bears are preparing for hibernation somewhere in a Matrix.

Following Master Kenobi, Kevin, a well-known analyst on X, also shared a chart along with his DOGE comments.

Kevin’s comments were as follows:

#Dogecoin, as we mentioned, held the weekly support in the macro gold pocket. The golden cross is a few green weeks away and is also trading in this large bullish falling wedge/channel. Very bullish setup. #DOGE #Altcoins

How Much is DOGE Worth?

DOGE continued its rise today, which started yesterday. DOGE’s price increased by 9% in the last 24 hours, allowing it to be traded at $0.1038 at the time of writing. This situation has led to a market volume exceeding $15 billion, positioning it as the 8th largest.

Lastly, the trading volume has reached $800 million, indicating a noticeable increase in investor interest and activity.