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Dogecoin Price Spikes – Unsurprisingly – After This Tweet From Elon Musk

Dogecoin, the top dog meme coin, has done it again and has winged its way by more than 4% following a Twitter post by Tesla CEO Elon Musk that read: “X AE A-XII loves Doges” with a video showing his son playing with Shiba Inu dogs.

Musk and his son X also posted photos via Twitter that show off their matching haircuts. The billionaire admits to cutting both his own as well as his son’s hair. Interestingly enough, Twitter user @cb_doge was able to dig up a couple of old photos of the Tesla big boss and compared Musk to his son.

Last June, Business Insider announced that the Tesla billionaire officially fathered twins together with Shivon Zilis, Neuralink top executive. To date, Musk now has over 10 kids.

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Dogecoin Price Spikes By More Than 16%

X is Musk’s child with Claire Boucher, a Canadian pop star. Evidently, Boucher separated with Musk after they had their second child.

The Tesla CEO also said that he will be posting another photo on Tuesday together with his Floki Inu dog.

Following Musk’s amusing tweet, DOGE token has surged by more than 16%. It was in mid-June that Musk faced a $258-billion lawsuit accusing the billionaire of involvement with crypto pyramid schemes.

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Dogecoin bulls hoisted a robust buying pressure spotted at the support zone of $0.06. This somehow triggered a revival that shoots above the red or Point of Control (POC). In order to push through the break in volatility, DOGE is shoveling near-term gains.

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DOGE Bullish, Set To Reap More Gains

DOGE’s four-hour chart shows a bullish pattern as sellers face threats. As of this writing, DOGE trades at $0.0727, showing an increment of 3.61% seen overnight.

After breaking through the resistance line of $0.07, Dogecoin was able to shave roughly 21% off its TVL which paired with the coin’s weekly lows seen on July 26.

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DOGE was extremely bullish as seen in the past couple of days. Predictably, a bearish reversal may happen within the range of $0.0715-$0.071. Evidently, the bears could show up in the range $0.073-$0.076 posing hurdles.

Similarly, DOGE’s RSI reached the overbought zone as of this writing. A reversal is imminent from the nearest resistance range. More so, the Volume Oscillator also showed a bullish divergence triggered by the higher dips seen in the past couple of days that stirred up buying volumes.

With the bullish breakout, DOGE could fan the flames and reap more gains reaching a near-term reversal.

ADA total market cap at $16.7 billion on the daily chart | Source: TradingView.com    Featured image from Analytics Insight, chart from TradingView.com

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