Home Market Dogecoin gains as ‘Doge Day’ helps sentiment: buy into strength?

Dogecoin gains as ‘Doge Day’ helps sentiment: buy into strength?

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  • Today’s Doge Coins are green because April 20th is “Doge Day”.
  • Memecoin technicals show bullish momentum.
  • Billionaire CEO Elon Musk continues to support Dogecoin.

Cryptocurrencies as a whole have not fared so well in the last 24 hours. But there are things that seem to buck the trend. That’s Dogecoin.

Dogecoin Technicals Show Upward Momentum

Dogecoin is in the green on the morning of April 20thth – “Head of State’s Day” impacted overall investor sentiment.

Nonetheless, a quick look at the technicals suggests there may be more benefits to be uncovered in moving this meme coin forward.

First, Dogecoin’s 30-day moving average has risen above its 200-day moving average. This usually indicates bullish momentum.In addition to that RSI or relative strength index is above 60, suggesting that prices are likely to rise further.

Year-to-date, Dogecoin is up around 30% at the time of writing.

Elon Musk continues to support Dogecoin

Another potential reason for owning Dogecoin is the consistent support it receives from Elon Musk.billionaire recently partnered We use Twitter and eToro to enable crypto trading on our platform.

More importantly, if Memecoin can find a spot on Twitter’s digital payment plans, it could be a huge tailwind for Memecoin. disclosed in January.

Earlier this month, masks exchanged A picture of a Shiba Inu appears on Twitter’s iconic bird logo, sparking discussion about his plans for Dogecoin.

Will today be “Doge’s Day” the day he reveals such a plan?

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