🔥💥Dogecoin (DOGE): Elon Musk May Lead the 50% Increase
Although the mainstay of meme coin has experienced some correction in the last day, #Dogecoin (#DOGE ) has seen a big increase after Elon Musk's recent comments about Tesla integration. In fact, the asset jumped by 15% on Thursday and declined a day later.
The positive momentum may not have sustainable qualities but it reinforced the impact Musk still has on the asset. Moreover, the inclusion of Musk's recent statements about meme coin could set the stage for a 50% increase for DOGE and an exit to $ 0.25.
Is Dogefather Attacking Again? Musk's Comments Could Affect the DOGE Rally.
Throughout the history of Dogecoin, its connection with Tesla CEO Elon Musk has been undeniable. Some of the entity's most impressive performances have come with its connection to the SpaceX head. With the recent comments of Dogefather, it may once again turn out that this is true.
Speaking at a Tesla factory in Germany, Elon Musk once again mentioned Dogecoin (DOGE). In particular, Musk was asked when customers will be able to buy a Tesla with a digital asset. "I think at some point we need to make this possible," the CEO said in response.
The comments led to a huge 15% increase on Thursday, and a correction took place a day later. Although the asset is down more than 12% today, according to CoinMarketCap, Musk's announcement may have set the stage for a 50% rise.
If the asset can regain the $0.15 support level in the short term, it may face a large increase in value. In particular, DOGE is trading above the 20-day SMA price point. If the media coverage of these comments continues, the asset may be ready to rise above $ 0.25.
But if DOGE fails to maintain its level of support, it could face big sales. On the contrary, Elon Musk's influence is undeniable, and such comments and developments will always have a positive impact on the price. If Tesla starts accepting Dogecoin, the value of the asset will undoubtedly increase rapidly.
