TL;DR
- Dogecoin price surged more than 14%, fueled by Elon Musk's endorsement and potential acceptance of Tesla payment.
- Analysts and crypto enthusiasts are optimistic about the future of DOGE, predicting significant rallies for it and other meme coins.
Dogecoin made some serious waves today (March 14), with its price climbing over 14% and reaching almost $0.20.
Its latest surge could be attributed to support from Elon Musk, who said its electric vehicle giant Tesla could enable DOGE payments “at some point.” He claimed that the first-ever meme coin is “the people’s crypto,” so he will “support it.”
Some popular analysts on X believe that the resurgence will be the start of a massive bull run for the token. Popular trader Rekt Capital suggested that DOGE “successfully retested the macro bearish trend as new support,” predicting further increases should it break through the “red psychological resistance” level of $0.20.
DOGE successfully retested the macro downtrend as new support and has since risen +46%
The objective for #DOGE going forward, it is all about reclaiming the red psychological resistance of $0.20 so that it can rally through the red-red range#Crypto #Dogecoin pic.twitter.com/VVpfHHe6MF
– Rekt Capital (@rektcapital) March 14, 2024
Crypto enthusiast Ansem was even more optimistic, ask its thousands of followers if DOGE is lucky enough to explode to a new all-time high of $1 and WIF to reach a whopping $100.
Many users commenting under the question predicted that such a rally is plausible, adding that the Solana-based meme coin may also soar (given its massive resurgence as of late). WIF is up 80% in a week, recently hitting an ATH of over $3.30.
Meme coins have been in the spotlight in recent weeks, with Shiba Inu (SHIB), Pepe Coin (PEPE), Bonk Inu (BONK), Floki Inu (FLOKI) and many others seeing three-way price hikes numbers.
Those who want to find the next token offering the possibility of making colossal profits, do not hesitate to watch our dedicated video below:
Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off fees on Binance Futures for the first month (terms).