Dogecoin Set To See New Heights Amidst Increased Accumulation, Claims Analyst
After the news of Elon Musk finally deciding to acquire Twitter, the meme currency, Dogecoin, surged nearly 10% in the early hours today. As per the deal, Elon Musk will pay $54.20 per share or $42 billion to acquire the firm.
At the time of publication, Dogecoin is changing hands at $0.063 with a fall of 1.26% over the last 24hrs. The dog-themed currency is still nearly 92% down from its all-time high of $0.74 in May 2021. The immediate resistance lies at $0.075, while the support is at $0.055.
A famous crypto analyst and trader, anonymously known as Smart Contracter, is claiming a bullish stance towards Dogecoin and informs his 211,200 followers on Twitter that the altcoin is currently in an accumulation zone.
Dogecoin On A Bull Run
He even believes that DOGE will move much higher than $0.065 soon.
doge/btc has the most insane looking high timeframe accumulation going on, i haven't seen something that looks like such clean accumulation like this in a long time.
i daresay revisiting this in a years time $doge will be a lot higher than $0.065c pic.twitter.com/t7kRsD7zzT
Continue read on coinpedia.org