Elon Musk’s Influence on Dogecoin Prices Remains Limited

During the writing of this article, Elon Musk made several Dogecoin $0.170242-themed posts. However, the price of Dogecoin (DOGE) showed little reaction. Musk had previously triggered significant increases in Dogecoin prices by launching a department called D.O.G.E to balance government spending. Currently, updates related to this department do not have an immediate effect on the price. What predictions can be made for CHZ, CEEK, and BONK Coin?

Dogecoin and CEEK Coin

While this article was being prepared, Musk stated, “DOGE is inevitable.” Following this, a visual featuring Dogecoin’s mascot was shared on the official Department Of Government Efficiency Community account. Nevertheless, the price of Dogecoin continues to stagnate. Previously, such indirect posts had substantial impacts on price movement.

Currently, BTC price hovers around $96,000, with altcoins remaining relatively calm. The decline in BTC has not triggered significant losses across altcoins.

CEEK Coin has started closing above $0.0387, filling the upper wick. However, the last candle it filled turned red. If it can maintain closures above the key level, it might target $0.0576, potentially fostering hopes of reversing the downward trend in the medium term.

Price Predictions for CHZ and BONK Coin

Recent price movements in CHZ Coin are not surprising to our readers. CHZ Coin adhered to the levels we highlighted for months, showing expected movement. If it can achieve closures above $0.07, the scenario predicting the targeting of the resistance of the parallel channel has been realized, with thresholds of $0.0856 and $0.0952 recovered.

In the coming days, bulls of CHZ Coin may aim to convert $0.1127 into support. If successful, they will likely target $0.3 and above, aiming for the 2024 peak of $0.1661. The excitement surrounding leagues and tournaments concluding in the second quarter of next year is expected to keep this enthusiasm alive.

Lastly, let’s examine BONK Coin. Continuous rises are unlikely during such periods. BONK Coin peaked at $0.00006205 and is protecting $0.00004518 as support. This level is crucial, and short-term profit-seeking traders might start cutting losses if it drops below this point. There are risks of issues for jumpfun on the SOL Coin front.

In the worst-case scenario, the price of BONK Coin may decline to $0.00003413 and $0.00002914 due to potential disruptions in the Solana $146 ecosystem. Conversely, it may seek to raise its all-time high (ATH). However, such drastic declines following an ATH should not be surprising.