Dogecoin, the top Doge meme coin, has done it again and garnered its way over 4% following a Twitter post by Tesla CEO Elon Musk that read: “X AE A-XII LOVE DOGS is” along with a video that shows his son playing Shiba Inu with dogs.
Musk and his son X also posted photos via Twitter that show off their matching haircuts. The billionaire admitted to cutting the hair of both himself and his son. Interestingly, Twitter user @cb_doge went through some old photos of Tesla Big Boss and compared Musk to his son.
Last June, Business Insider announced that the Tesla billionaire had officially given birth to twins with Neuralink top executive Shivon Zillis. To date, Musk now has over 10 children.
Dogecoin price rises by over 16%
Ex is Musk’s child with Canadian pop star Claire Boucher. Apparently, Boucher split from Musk after their second child.
The Tesla CEO also said that he will be posting another photo with his Floki Inu dog on Tuesday.
The DOGE token is up over 16% after Musk’s amusing tweet. Musk faced a $258 billion lawsuit in mid-June, accusing the billionaire of being involved in crypto pyramid schemes.
Dogecoin bulls are seeing a strong buying pressure near the $0.06 support area. It somehow started a revival that shoots red or above the point of control (POC). DOGE is trading off near-term gains to push through the break in volatility.
DOGE Bullish, ready to take higher gains
The four-hour chart of DOGE is showing a bullish pattern as sellers face risks. At the time of writing, DOGE was trading at $0.0727, representing an overnight increase of 3.61%.
After breaking the $0.07 resistance line, Dogecoin was able to lose around 21% from its TVL, which was paired with the coin’s weekly low as seen on July 26.
DOGE was extremely bullish as seen over the past few days. Predictably, a bearish reversal could occur in the $0.0715-$0.071 range. Clearly, the bears are likely to create hurdles in the $0.073-$0.076 range.
Similarly, the RSI for DOGE has moved into overbought territory as of this writing. A reversal from the nearest resistance range is imminent. Moreover, the volume oscillator has also shown a bullish divergence due to higher downsides over the past few days, which has increased the buying volume.
With a bullish breakout, DOGE could fan the flames and hold higher gains until a near-term reversal.
ADA total market cap at $16.7 billion on the daily chart | Source: TradingView.com Featured image from Analytics Insight, chart from TradingView.com