Dogecoin Price X-Triggered Rally: A Bullrun or False Bull Trap?
The meme coin cryptocurrency has in the last two weeks gained 25% to trade at $0.078 on Tuesday amid growing speculation that X may adopt DOGE as the token that powers payments. advertisement As shared by the head of research and strategy at Matrixport, Markus Thielen, “As crypto is entering the summer lull that we initially expected for August, DOGE might be the summer’s highflyer as other crypto themes are taking a backseat. Musk is on a marketing tour in re-inventing Twitter.” Dogecoin Price Leads Altcoins Rally As Open Interest Soars to $500M Dogecoin price validated an uptrend it has been teasing in the last few weeks, with support reinforced at $0.06. The initial bullish breakout above the lower descending trendline as shown on the daily chart, saw buyers gain confidence in a potential climb which came into play when Twitter rebranded to X. The $11 billion crypto, ranking 8 in the market, now holds above all the moving averages inc...