Crypto analysts say Elon Musk could pull memetic token Dogecoin (DOGE) out of perpetual resistance levels.
Pseudonym Analyst Pentosi To tell His 672,200 Twitter followers show bullish support for Meme Token Shiba Inu (SHIB)’s biggest rival, and it could go even higher.
He says DOGE has faced resistance at a price level around $0.0940 for much of the year, but if it holds, it indicates an imminent breakout to $0.159. There is a possibility that
“As a matter of fact consider DOGE here to be at an important level, breaking out of the high range that has been holding it off for almost a year. We hope to maintain this level and follow through upwards. It’s an impulsive coin, so it’s not always easy to catch.”
Pentosi To tell Musk could fuel a surge in Dogecoin.
Dogecoin proponent Musk is moving to allow cryptocurrency payments on Twitter, the microblogging social media platform he bought last year.
“What if Elon Musk was a DOGE catcher? Or is it too obvious in hindsight?”
Another crypto analyst, Smart Contracter, said, To tell Dogecoin may have hit bottom.
According to him, DOGE is showing a strong performance against Bitcoin (BTC), rebounding from the 0.00000387 DOGE/BTC support level.
“DOGE/BTC is at a very interesting weekly level here.
Look at his chart, he predict Dogecoin continues its massive rise above 100% at some point in March, reaching 0.00000808 DOGE/BTC.
“Sure, DOGE/USD looks like a mess in my eyes, but DOGE/BTC OTOH [on the other hand] Probably gearing up for a 100%+ revenge pump. It would be my negligence if I didn’t have this. “
Dogecoin is worth $0.0950, or 0.00000396 DOGE/BTC at the time of writing.
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