DOGE surged to an 11-week high as Elon Musk launched public Dogecoin exchanges.

TL; DR

Dogecoin has seen a significant price increase on a 24-hour scale, possibly due to Elon Musk's recent interaction during a public event. Despite the optimism, DOGE's RSI suggests that it may be overbought and due for a pullback.

DOGE on the run

It is Dogecoin (DOGE). of 20 cryptocurrency with the best performance Today (October 18) saw a 9 percent price increase and a $0.13 gain. The last time the price traded high was in late July.

The parade can. to be It is given A comment to Elon Musk during his recent public speech in Pennsylvania. CEO of Tesla A question was asked If a new capable unit is led (It is called government efficiency) in the last Donald Trump administration. He simply said, “Yes, DOGE,” to a standing ovation from the crowd.

This isn't the first time that leader Meem Coin has headed north following an interaction. from One of the richest people on the planet. In March of this year, Muk he said. Tesla may allow DOGE payments “at some point.” This It resulted in a double-digit rally for the token price.

Two months later Giant E.V Officially Integrated DOGE as a payment option on the website. The move sparked another significant (but brief) surge. b The property.

He has a mask. He clearly supported it Dogecoin has been praised many times over the last few years for its efficiency. He once referred to himself as the “Doge Father”.

Is DOGE ready for more profit?

of The recent revival of the meme coin. It has attracted the attention of many analysts. According to X user Dylan, for example, a big revival of other altcoins could follow DOGE's pump.

$DOGE is finally starting to move.

Remember when DOGE leaks, Altseason starts pic.twitter.com/NRqFlx2cXE

— Dylan (@DylanTillEth) October 17, 2024

Earlier this week, Ali Martinez on List A very funny prediction. He presented a chart showing that DOGE could explode to a high of $10 in the coming months.

It's important to note that this would require the market number to rise to nearly $1.4 trillion. Currently, only Bitcoin (BTC) is close to the target, with the total capitalization of the cryptocurrency sector hovering around $2.44 trillion (according to CoinGecko).

Despite being in crash mode of late, one gauge suggests that DOGE may be heading south soon. This is the relative strength index (RSI), the ratio is currently above the 70 critical level. Such readings indicate that DOGE is in overbought territory.