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Elon Musk reignites Dogecoin's "to the moon" hopes.
Popular analyst Crypto Patel noted that Dogecoin price is currently trading at level that has historically led to major upside. According to the expert, DOGE is holding a macro demand zone between $0.10 and $0.06. This area has acted as a strong multi-year support since 2021.
Tesla CEO Elon Musk announced in a short tweet Friday that the company will now accept the meme-based cryptocurrency dogecoin for some merchandise the company sells. As CNBC reported, the announcement caused the price of dogecoin to jump above 15%.
Elon Musk and crypto. It’s a combination that always gets people talking, right? Whether it’s a tweet that sends Dogecoin soaring or a corporate move that makes headlines, what Musk does in the crypto space is hard to ignore.