{"id":422994,"date":"2023-07-25T17:55:13","date_gmt":"2023-07-25T17:55:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=422994"},"modified":"2023-07-25T17:55:13","modified_gmt":"2023-07-25T17:55:13","slug":"dogecoin-price-gets-a-musk-boost-while-this-eco-friendly-coin-presale-pumps-doge-versus-chimp","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-gets-a-musk-boost-while-this-eco-friendly-coin-presale-pumps-doge-versus-chimp","title":{"rendered":"Dogecoin Price Gets A Musk Boost While This Eco-Friendly Coin Presale Pumps. DOGE Versus Chimp?\u00a0\u00a0"},"content":{"rendered":"
Dogecoin rose after Elon Musk added a “D” to his profile on the newly branded X social media platform with investors taking it as a nod to the entrepreneur’s favourite crypto token.<\/p>\n
DOGE is up 18% in the last 7 days and over 21% in a month. It gained almost 9% in the last 24 hours. <\/span><\/p>\n According to <\/span>coinmarketcap data<\/span><\/a>, the trading volume of Dogecoin at 7:30 EST was more than $1.35b, up 56% in the last 24 hours.<\/span> <\/span><\/p>\n As shown on the chart, DOGE is trading above the 50-day Simple Moving Average (SMA) and the 200-day SMA, which suggests upward momentum in the market and signifies that the asset is in an uptrend.<\/span><\/p>\n The MACD indicator trading above the signal line with green histogram bars shows increasing bullish momentum. At the same time, forming a green candle on the daily chart also suggests increased buying pressure.<\/span><\/p>\n Also, the RSI value of 67.90 indicates that the asset is not yet in an overbought zone. This means DOGE will gain more in price today but might record a trend reversal once it crosses the overbought zone. <\/span>So, traders should be cautious. <\/span><\/p>\n General market sentiment surrounding regulations and whale trading activities could negatively affect Dogecoin’s price movement.<\/span><\/p>\nTechnical Indicators on Dogecoin price action<\/h3>\n
Factors that could affect Dogecoin price<\/h2>\n