Dogecoin Poised for Major Rally as Traders Accumulate and Musk’s Post Adds Hype
dogecoin (DOGE) is showing signs of a potential price surge. After the recent flash crash, the coin is consolidating above the $0.18 mark. Traders are snapping up the dips,viewing the October 10 crash as a buying prospect.
The crash saw the broader market lose around $19 billion,with DOGE briefly dipping to $0.15. Though, it found support around $0.175–$0.18 and hasn’t made new lows since. The Volume Delta indicator backs this up, showing that buy orders are increasingly absorbing sell-side pressure.
Analyst Ali Martinez noted that around 10.5 billion DOGE were bought at $0.21. This creates short-term resistance near that level. For a bullish breakout, DOGE must reclaim and hold above $0.21.
Adding to the bullish sentiment is Elon Musk’s recent X post. He shared an AI-generated video of his Shiba Inu, Floki, as the “CEO of X.” This post sent Floki (FLOKI) soaring and could boost DOGE, the original memecoin Musk promoted in 2023.
Back than, similar posts by musk added over $500 million to DOGE’s market cap in just 15 minutes. This suggests that DOGE could benefit from a similar sentiment-driven rally.
While the future remains uncertain,the current accumulation and Musk’s influence hint at a possible price surge for Dogecoin.
