- Dogecoin is inexperienced at the moment as a result of April 20 is “Doge Day”.
- The technical traits of the meme coin point out bullish momentum.
- Billionaire CEO Elon Musk continues to help Dogecoin.
Cryptocurrencies as an entire have not completed so nicely over the previous 24 hours. However there’s one which appears to buck the development – and that is Dogecoin.
Dogecoin Technicals Point out Upward Momentum
Dogecoin is within the inexperienced this morning like April 20e – “Doge Day” influenced normal investor sentiment.
Nonetheless, a short overview of the technicalities signifies that there could also be extra advantages to be unraveled on this coin even sooner or later.
For starters, Dogecoin simply noticed its 30-day transferring common climb above the 200-day that usually indicators bullish momentum. On prime of that, its RSI or Relative Energy Index has crossed 60, suggesting {that a} additional worth enhance is probably going.
12 months-to-date, Dogecoin is up about 30% at writing.
Elon Musk continues to help Dogecoin
One other potential cause for proudly owning Dogecoin continues to be the fixed help it receives from Elon Musk. Recall that the billionaire lately partnered with Twitter with eToro to allow crypto buying and selling on the platform.
Extra importantly, this could possibly be a major tailwind for the coin even when it does discover a place within the digital funds plans that Twitter disclosed in January.
Earlier this month, Musk additionally changed Twitter’s iconic fowl brand with a photograph of the Shiba Inu canine that spurred debate round his plans for Dogecoin.
May or not it’s that at the moment – “Doge Day” is the day he reveals such plans? That continues to be to be seen for now!
