🔥💥Dogecoin (DOGE) Price Prediction: Will Elon Musk Make a 50% Increase?

On March 14, the #Dogecoin (#DOGE ) price rose by 15% to scrape the elusive $0.00002 territory, before entering a retreat amid the market downturn on Friday. Elon Musk's recent comments implying that Tesla has accepted Doge for payments were a major catalyst behind the increase in Sunday demand for DOGE.

”I think at some point we have to enable this," Musk said. 

Elon Musk's Dogecoin advocacy is nothing new, often calling the crypto asset the “People's Crypto” in 2021.

However, Tesla started accepting crypto for Tesla products on January 15, 2022.

However, crypto transactions were limited only to the DOGE.

Tesla fans recently discovered that Dogecoin is mentioned in the code of Tesla's Cybertruck pay page.

This has led to speculation about whether the company will start accepting doge for its long-awaited Futuristic Truck. 

Despite these promises, an official statement from Tesla or Musk regarding Dogecoin as a paying method has not yet been published. 

Dogecoin price forecast: consolidation before 50% breakout?

Looking at historical trends, the increased market demand and media coverage caused by Elon Musk's recent bullish comments may drive the Dogecoin price to an accelerated breakout during the next rally.

In terms of short-term price movements, the DOGE price should first remain stable above the $ 0.15 support level. As can be seen below, DOGE is currently trading just above the 20-day SMA price mark.

Failure to defend this key support level could put doge at risk of a major sell-off.

But on the other hand, if bullish investors take advantage of the media fanfare, the DOGE price could enter a 0.25% breakout towards $50.

#HotTrends #DOGE #BTC #HalvingHorizons

$DOGE