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The Dogecoin price jumped 7% in the last 24 hours to trade at $2.880 as of 03:20 a.m. EST on trading volume that surged 58% to $3.9 billion.
This comes after Elon Musk indicated that Tesla may eventually accept Dogecoin as a payment method for its electric vehicles.
In a recent video from the Giga Berlin manufacturing plant, Musk responded to a question about purchasing Tesla cars with Dogecoin, saying, “At some point, I think we should enable that.”
While Dogecoin is currently accepted for some Tesla merchandise, there is no official confirmation yet on when or if it will be available for car purchases.
Elon Musk at Giga Berlin today.
“When will I be able to buy a Tesla with dogecoin?”
“At some point I think we should enable that.” 😂🔥 pic.twitter.com/Suk7bifuHC— Sir Doge of the Coin ⚔️ (@dogeofficialceo) March 14, 2024
Dogecoin Price Poised For A Bullish Rally
The Dogecoin price has been rising gradually since mid-February, leading to a 125% surge during this time. The bulls aim to continue surging the price, as DOGE has already breached the upper boundary of the symmetrical triangle pattern.
DOGE is trading over both the 50-day and 200-day Simple Moving Averages (SMA), which is a confirmation of the bullish rally. Additionally, the 50-day SMA crosses above the 200-day SMA, forming a golden cross at $0.08, which affirms the sustained bullish stance.
The Relative Strength Index (RSI) is trading upwards towards the 70-overbought region, currently at 64. If the bulls sustain the current upward trajectory, the RSI could soar past 70, indicating intense buying pressure.
The Moving Average Convergence Divergence also confirms the bullish sentiments, with the moving average line (blue) crossing over the signal line (orange), which represents a bullish crossover. A bullish crossover may surge the price even higher, as it encourages the bulls to add to their positions.
Additionally, the green bars on the histogram are elevating over the neutral line, which shows positive momentum. The Average Directional Index (ADX) supports this as it moves upwards, currently at 15. This level shows a price moving into equilibrium as it tries to break toward a very strong trend.
Dogecoin Price Prediction
The Dogecoin short-term price analysis shows a bullish bias, as the bulls are aiming to capitalize on the symmetrical triangle pattern to push the price even higher as they aim for $0.24, as they target its all-time high (ATH) at $0.7316.
However, the ADX is trending in equilibrium, which may allow the bears to take control of the price. In such a scenario, the price may go through a retrace back to the major support zone at $0.14, acting as a cushion against downward pressure.
As the Dogecoin bulls aim to add to their positions, other investors are moving to buy Green Bitcoin, a Bitcoin derivative that’s primed to soar on the incoming Bitcoin halving in April.
Green Bitcoin Raises $4.3 Million, Hottest Crypto To Buy Now
As we approach the Bitcoin halving event, with Bitcoin fueling the current crypto boom, Green Bitcoin ($GBTC) has emerged as a prominent new player, attracting investor interest.
Green Bitcoin goes GLOBAL, with our campaign drawing thousands of supporters from every corner of our world.
We thank you. pic.twitter.com/dRUyegB7PQ
— GreenBitcoin (@GreenBTCtoken) March 7, 2024
Green Bitcoin is a cryptocurrency that combines the legacy of Bitcoin with the environmentally conscious Ethereum blockchain. It offers users the opportunity to predict the price of Bitcoin and earn massive rewards.
By staking $GBTC tokens, users can participate in the forecasts and be rewarded with a proportionate share of the daily staking reward pool.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
In its current presale stage, the project has already secured over $4.3 million as it races towards its $4.5 million goal.
An unbelievable achievement for the future of crypto, and our incredible community!
Let's hear it for GREEN! pic.twitter.com/mk0kGrXrVn
— GreenBitcoin (@GreenBTCtoken) March 13, 2024
Buy And Stake GBTC To Earn Passive Income, 119% APY
Unlike the original Bitcoin, Green BTC provides holders with passive rewards from staking. This means that investors can earn additional income simply by holding their tokens. So far, 63% of the sold $GBTC has been staked, with an annual return of about 119%.
Matthew Perry, a crypto YouTuber with over 225K followers, explains why Green Bitcoin is turning heads in the following video.
Launching near the Bitcoin halving, $GBTC aims to leverage Bitcoin’s success, promising substantial returns. You can invest now at just $0.9162 per $GBTC token, but remember that there will be a price increase in less than five days.
You can purchase $GBTC tokens on the official Green Bitcoin website, where you can exchange ETH or USDT for $GBTC, or buy directly with your bank card.
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