The price of Doge today reveals that the meme coin is on the bullish trend, with its most robust resistance at $0.1906 and most substantial support at $0.1433. Dogecoin’s value was priced at $0.1617 on January 13th, and it quickly increased to $0.1722 following Elon Musk’s announcement to make Tesla Merch buyable with Doge.
Dogecoin has surged in value as its cost has continued to experience a substantial increase in the past few days. The cryptocurrency witnessed an increase from $0.1722 to $0.2089 on the 14th of January. However, the price dropped the next day and slightly increased to $0.1803. DOGE has been experiencing price fluctuation, with its current price at $0.19.
A Strong Bullish Trend
Dogecoin is following a solid bullish trend as it witnesses an increase in value after Tesla announced its decision to accept Dogecoin payments. While the CEO, Elon Musk, had teased that Tesla would allow its customers to buy some of its Merch with Dogecoin, the value of Dogecoin was electrified. On January 24, the Dogecoin price increased by 18% from $0.17 to $0.20 but quickly dropped to $0.19 on Saturday.
Dogecoin increased significantly in 2021 by about 4,000% due to the contribution of Elon Musk. Musk had supported the coin as one of the best for payments compared to Bitcoin and stated that SpaceX, a space technology company, would accept Dogecoin payments. Dogecoin started the year trading below its all-time high and resistance level.
However, it is currently surging and moving towards a bullish trend. Presently, Dogecoin is still the only digital asset accepted by Tesla. Investors and traders are watching Dogecoin’s increase in value as it remains one of the top meme coins with an increasing trading volume.
DOGE Price analysis For 4-hours: Latest Developments For DOGE
Cryptocurrency is a highly volatile market whose value depends on the market’s sentiment. The fluctuation of Dogecoin price shows the volatility of the market is moving towards a bullish trend. The value of Dogecoin can witness a sudden rise or fall as it is vulnerable to volatile change. The market value has witnessed an upward trend in the last few days and is likely to increase over time. Dogecoin now has an all-time high value of $0.196 and an all-low of $0.1827. The upper limit of DOGE is at $0.1982, indicating that the cryptocurrency has a strong resistance. On the other hand, the lower limit is at $0.1433, Dogecoin’s most substantial support level.