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The Department Of Government Efficiency price has soared 31% in the last 24 hours to trade at $0.03709 as of 6:45 a.m. EST on a 6.4% surge in trading volume to $6.9 million.
The DOGE price rise came after Elon Musk tweeted that “D.O.G.E will fix it” in response to news that California officials had rejected more SpaceX rocket launches.
D.O.G.E will fix it 🪓
— Elon Musk (@elonmusk) October 15, 2024
At a town hall in Pennsylvania, the billionaire founder of SpaceX and Tesla shared his idea for a new government department, which he calls D.O.G.E. The goal of this department would be to make better use of taxpayer money and streamline the various government agencies that handle spending. He also mentioned it would run more like a business, rewarding top performers and holding those who don’t meet expectations accountable.
Department Of Government Efficiency Price Signals More Uptrend Ahead
The DOGE/USD chart on the 1-hour timeframe is looking fairly bullish. After a long consolidation phase where the price was stuck between $0.02 and $0.03, things have finally started to move. The price was relatively flat during that period, but once it broke out, it formed a parabolic curve, which pushed DOGE up to $0.03486. This kind of sharp movement definitely shows there’s strong buying momentum.
Technical indicators support this bullish sentiment as the 50-period Moving Average (MA) at $0.02786 is a key short-term support level. Meanwhile, the 200-period MA is down at $0.01552, which shows that DOGE is in a strong uptrend in the long run, too. Since the price is comfortably above both of these moving averages, it’s a good sign that the momentum is solid.
DOGEUSD Analysis Source: Dextools.io
In addition, the Moving Average Convergence Divergence (MACD) is looking positive. This is after the MACD line crossed above the signal line, with the histogram is showing positive values. Traders usually see this technical signs as an indication that upward momentum might continue. Overall, it seems like the bulls are in control for now.
Meanwhile, the Relative Strength Index (RSI) is at 60.53, signaling bullish sentiment without yet entering overbought territory, meaning there’s potential for further price appreciation.
Based on the parabolic curve and technical indicators, DOGE could soon test $0.04 as a key resistance level. If momentum holds, the next target would be $0.05. As long as the price stays above the 50 MA, the bullish trend is likely to continue.
Pepe Unchained Presale Charges Towards $21 Million
Meanwhile, investors seeking profitable projects could consider buying the new layer-2 meme coin Pepe Unchained (PEPU), which has raised over $20.4 million in the biggest presale ever this year.
This bullish momentum has caught the attention of an analyst on 99Bitcoins’ YouTube channel, which has over 706k subscribers. In a recent video, the analyst said that PEPU has the potential to surge 100X once it launches.
What really sets PEPU apart from other meme coins is its native layer-2 network, which is built to speed up meme coin trading significantly. This chain processes transactions up to 100 times faster than Ethereum, while also cutting down gas fees. Plus, it’s fully compatible with Ethereum’s dApps and services, so users get the speed without sacrificing functionality.
The project’s team has just launched a developer grant program called “Frens with Benefits,” which aims to attract new talent and help expand the Pepe Chain ecosystem.
WE JUST HIT $20M RAISED!
And with this milestone, we have another major project update to share with our incredible community! pic.twitter.com/z9xlqZ2dAV
— Pepe Unchained (@pepe_unchained) October 16, 2024
On the investment side, PEPU holders can stake their tokens for a solid 109% annual return. So far, over 1.46 billion PEPE tokens have been staked.
Right now, PEPU is priced at $0.0106, and you can purchase it using ETH, USDT, BNB, or even bank cards. With a price increase coming in just over a day, you might want to act fast to buy the meme coin at the best rate.
Buy PEPU tokens on the official website here.
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