Dogecoin, the mainstay of meme coins has seen a slight correction in the past day. However, DOGE saw an incredible surge following the announcement. Elon Musk made recent comments regarding an integration of Tesla. The asset actually rallied by 15% Thursday, before slipping back a few days later.
Musk’s influence on this asset is still evident, even though the positive momentum was not sustained. Musk’s recent statements about the meme-coin could also set the stage to a 50 percent surge in DOGE.
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Dogecoin has had a strong connection to Elon Mots, the CEO of Tesla. This is undeniable. The asset has had some of its most successful performances when it was connected to SpaceX’s CEO. Recent comments by the Dogefather could confirm this.
Elon Musk, speaking at a Tesla plant in Germany mentioned Dogecoin once again. Musk was asked specifically when the customers could buy a Tesla using this digital asset. The CEO responded by saying, “At some point, I think we should enable that.”
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Comments made by the CEO led to an explosive 15% rise on Thursday. A correction took place one day later. Although the asset was down by more than 12 percent today, CoinMarketCapThe Musk announcement may have opened the door for a rally of 50%.
The asset’s value could skyrocket if it can quickly regain its $0.15 level of support. DOGE trades above the SMA 20-day price level. The asset may be ready to breakout above $0.25 if the coverage of these comments in the media continues.
If DOGE cannot maintain its support level, the stock may be subject to major selling. Elon Musk has a positive impact on the market, as his comments and actions are well-known. Tesla’s value would skyrocket if it began accepting Dogecoin.
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Source: watcher.guru