Share:
  • Dogecoin price has a massive spike from $0.053 to $0.071 in just one hour.
  • Elon Musk states that SpaceX will put a literal Dogecoin on the literal moon.
  • The pump did not last long as the digital asset is down 17% in the last 12 hours.

Dogecoin has done it again, thanks to Elon Musk, who tweeted that SpaceX will put a literal Dogecoin on the actual moon in space. The tweet had a significant impact on DOGE initially, which saw a massive 30% spike within hours.

However, as the tweet was posted on April 1, many investors were worried about a potential April Fools joke by Musk. The digital asset is down 17% from the top of $0.071. 

Dogecoin price explodes but can't stay above a critical level

Dogecoin price has struggled to climb above $0.063 since February 15. This massive resistance trendline was broken in the past 12 hours, but DOGE lost it again.

doge price

DOGE/USD 12-hour chart

The past three rejections all lead to at least 13% corrections. The most substantial support level is located at $0.056, which coincides with the 50-SMA and the 100-SMA. A move towards this point would represent a 12% correction from the $0.063 trendline resistance. 

doge price

DOGE IOMAP chart

On the other hand, the In/Out of the Money Around Price (IOMAP) chart shows relatively weak resistance ahead in comparison to the support DOGE has. Holding $0.056 could quickly drive Dogecoin price towards the upper trendline at $0.063 again. 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Bitcoin price outlook as MicroStrategy buys 3,000 BTC just 52 days before halving

Bitcoin price outlook as MicroStrategy buys 3,000 BTC just 52 days before halving

Bitcoin (BTC) price continues to ride on the exchange-traded funds (ETF) theme, as markets count the days to the halving, 52 days out (just about seven to eight) weeks). Meanwhile, Microstrategy has taken advantage of the current lull in the market to grow its BTC portfolio with yet another volumnous purchase for the second time in the month. 

More Bitcoin News

Pepe Price Prediction: PEPE is an outlier with over 15% gains as meme coins post single-digit surges

Pepe Price Prediction: PEPE is an outlier with over 15% gains as meme coins post single-digit surges

Pepe coin (PEPE) price is trading with a strong bullish bias, outperforming the meme coin top four, including Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk Inu (BONK), which are up by single digits. Meme coins appear to be rallying after the Bitcoin price showed strength.

More Cryptocurrencies News

BTC ETF AUM could surpass Gold, expert says, amid enthusiasm for new investment funds

BTC ETF AUM could surpass Gold, expert says, amid enthusiasm for new investment funds

In a landmark decision on January 10, the US Securities & Exchange Commission (SEC) approved multiple spot Bitcoin exchange-traded funds (ETFs) in a single go. Almost seven weeks down the line, the theme continues to drive the cryptocurrency market, giving investors the train to ride on as markets prepare for the BTC halving in 52 days.

More BTC News

Cardano price notes further decline, report reveals ADA ecosystem is plagued with dead coins

Cardano price notes further decline, report reveals ADA ecosystem is plagued with dead coins

Cardano price continued its decline on Monday. ADA price dropped nearly 3% in the past 24 hours. In a recent report by Alpha Quest, the protocol ranks in the top 10 blockchains that host dead coins. 

More Cardano news

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. Investors can expect BTC to consolidate between the $52,062 to $45,160 levels.

Read full analysis

BTC

ETH

XRP