Dogecoin’s price has jumped about 150 percent in the last 24 hours and jumped 200 percent in the past two weeks. Many refer to the Dogecoin price increase as a “cyclical” increase.
With each rising bitcoin market, DodgeCoin has experienced stagnant growth. Many believe that as the price of bitcoin rises, cyberspace will be filled with jokes made with Dodge Coin, and this will make micro-investors more familiar with this digital currency. Of course, it should not be forgotten that the technical indicators of the market also predicted this price increase.
Prior to the Dogecoin price explosion, this digital currency was in the 15 Satoshi support area; This means that you could buy a Dodge of coins with 0.0000000015 bitcoins.
This area has long served as a support for Dogecoin. In other words, in the last 5 hours, we have seen the support of Dogecoin in this price range.
Traders expected prices to rise as Dogecoin began to rise, relying on the fact that prices usually rise after technical resistance breaks.
The English label “Dogecoin” soon became a Twitter trend in the United States and Canada, and many investors and small traders referred to Dogecoin thousands of times and shared their views on the digital currency.
Keemstar, a well-known YouTube user, once again tweeted about this, referring to Dogecoin.
The Dogecoin’s uptrend began after Elon Musk tweeted about the digital currency. In a tweet, Musk called Dogecoin “his favorite digital currency.”