DOGE Is Increasing Its Upside Momentum
Dogecoin (DOGE) has risen 9.0% this week to $0.10380, outperforming Bitcoin’s 4.7% increase to $57,000. DOGE’s surge followed a post by Elon Musk on the X platform (formerly Twitter) featuring the acronym "D.O.G.E.," which many interpreted as a reference to both the meme coin and "Department of Government Efficiency." This fueled speculation about Musk’s potential involvement in the U.S. government should Donald Trump win the upcoming election. Musk also supported the idea of accepting DOGE for Starlink payments in Brazil, although the platform has faced a ban in the country and had its banking accounts seized by Brazil’s Supreme Court.
Technically, DOGE bounced off the $0.10000 support level and could be targeting $0.12000. If the meme coin breaks through this resistance, it may establish an uptrend, possibly driving prices higher.
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