Dogecoin Rallies Following Musk's Historic Trillionaire Status via SpaceX IPO

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

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Dogecoin Price Surge: On June 12, 2026, Dogecoin's price jumped 7.6% to an intraday peak of $0.091 before retracing to around $0.087, indicating the market's sensitivity to Musk-related developments.
Strong SpaceX IPO Performance: SpaceX launched at $150 per share, an 11% increase from its $135 IPO price, with shares peaking at $176, elevating the company's market cap beyond $2.1 trillion and boosting crypto market sentiment.
Musk Becomes First Trillionaire: With his substantial equity in SpaceX, Musk's wealth surpassed $1 trillion, marking him as the first trillionaire in history, which positively impacted digital asset markets.
Market Sentiment Divergence: Despite Dogecoin's strong performance, analysts express skepticism about the sustainability of the rally, suggesting that the price increase is primarily driven by Musk's wealth achievement rather than meaningful improvements in Dogecoin's underlying value proposition.

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Technical Analysis for DOGE

Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Dogecoin (DOGE) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0629	0.0703	0.0777	0.0851	0.0925	0.0999	0.107
Fibonacci	0.0703	0.0759	0.0794	0.0851	0.0907	0.0942	0.0999

About DOGE

Dogecoin (DOGE) is based on the popular 'doge' Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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