- Dogecoin is in green today because April 20th is ‘Doge Day’.
- The meme coin’s technicals indicate bullish momentum.
- Elon musk, the CEO of Elon mccan billionaire company continues to support Dogecoin.
Cryptocurrencies at large haven’t done all so well over the past 24 hours. But there’s one that seems to be bucking the trend – and that’s Dogecoin.
Dogecoin technicals suggest upward momentum
Dogecoin is in the green this morning as April 20th – the “Doge Day” influenced the overall investor sentiment.
A quick look at the technicals indicates that this meme coin may have more upside to unfold in the future.
Dogecoin’s 30-day moving is above the 200-day, which typically indicates bullish momentum. Moreover, the RSI (or the relative strength index) of Dogecoin has just climbed above 200-day moving average. This typically signals bullish momentum. Relative Strength Index Has crossed 60, indicating that a further rise in price is possible.
Dogecoin has risen by approximately 30% in the past year.
Elon Musk continues support Dogecoin
Elon Musk’s support is another reason why you should own Dogecoin. Remember that the billionaire just recently partnered Twitter and eToro will enable crypto trading through the platform.
It could also be a major boost for the meme coin, if it is included in the digital payment plans of Twitter disclosed In January,
Musk has also been spotted earlier this month. replaced Twitter’s iconic bird logo with a picture of the Shiba Inu dog that stimulated a debate around his plans for Dogecoin.
Could today – the “Doge Day” be the day that he reveals any such plans? For now, we don’t know!
