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HomeNewsIs the DOGE ready for a 30 percent rally? From Investing.com

Is the DOGE ready for a 30 percent rally? From Investing.com





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Investing.com – He doesn’t have enough strength on Monday to move from 7th place. The DOGE price is quoted with a plus of 0.77 percent at 0.3039 dollars, while the market capitalization is 40.11 billion dollars.

Dogecoin Godfather Elons Musk rushes to the aid of the Afghans

Elon Musk, who is one of the greatest advocates of Dogecoin, now appears to be helping the US to move local workers left behind.

Communication plays a crucial role in this. This is exactly what the Taliban are trying to block – with success. This does not require any technical refinements like in China – it is enough to demolish the cell phone masts. So all contact with the outside world is lost.

This is where Dogecoin fan Elon Musk comes in. He wants to position his SpaceX Starlink satellites over Afghanistan. In this way, people are given the opportunity to communicate via the Internet.

The Afghan government should certainly not like this and it is certainly against the law, which Elon Musk does not really bother. What do the Taliban want to do – no Kalashnikov in the world comes anywhere near its satellites.

Mark Cuban is beating the Dogecoin advertising drum

Another supporter of Dogecoin is the owner of the Dallas Mavericks, Mark Cuban.

At the games of your basketball team you have been able to pay for hot dogs, beer and fan articles with DOGE for a long time.

The shrewd businessman came up with a new idea – a Dogecoin cashback system. Anyone who purchases at least $ 150 worth of DOGE in the fan shop by September 30th will receive a $ 25 credit.

With this campaign, he wants to show again that the original meme coin has now become a full-blown real crypto currency that is great for shopping. Maybe it will also be the starting signal for the next rally.




Dogecoin technical analysis

On the daily chart, Dogecoin has rallied from its recent low at $ 0.2647, making the high at $ 0.3197 today. In order for the positive momentum not to fade, a daily closing price above the 23.6 percent retracement of the upward movement of 0.1607 dollars to 0.3517 dollars, which can be found at 0.3066 dollars.

If this does not succeed, we have to prepare for a retest of the 38.2 percent retracement of $ 0.2787.

On the other hand, should the Dogecoin break the August 16 high at $ 0.3517, gains on the 123.6 percent Fibonacci expansion of $ 0.3967 are possible. Based on the current DOGE course, this corresponds to a 30 percent rally.

From Marco Oehrl

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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