Elon Musk Mentions DOGE: Dogecoin Rockets to New Heights!
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 18 2024
0mins
Source: Coinmarketcap
Elon Musk's Influence on Dogecoin: Elon Musk's recent endorsement of Donald Trump and mention of "D.O.G.E." during a town hall event led to a 25% surge in Dogecoin's price, marking its highest level in three months. His influence has historically driven significant price changes for DOGE.
Technical Analysis of Dogecoin: Analysts note that Dogecoin has broken out of a falling wedge pattern, indicating potential bullish movement, with targets set around $0.19 by the end of 2024. However, overbought conditions suggest a possible correction back to around $0.122 in the near future.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
