Dogecoin (DOGE) extends its steady rises throughout Tuesday morning sessions. The altcoin managed to recover the recent losses that had it dipping towards $0.30. With the support from fundamentals, the canine-themed crypto might see higher prices. While writing this content, DOGE/USD trades near $0.32.
The meme coin started its uptrends over last week’s sessions due to bullish comments from the Dallas Mavericks owner Mark Cuban. The billionaire referred to DOGE as strong crypto. Elon Musk seconded the statement, triggering movements by the community for new DOGE highs.
Dogecoin community appears to be active on social media platforms as the meme coin enjoys upside movements. For instance, enthusiasts on Twitter promoted the DOGEto$1 trend. Also, the community members shared multiple related memes, further pushing Dogecoin up. With increased social sentiment, DOGE might sustain its current gains as it prepares for near-term upticks.
On the other hand, Dogemon Go, a game that allows players to earn Dogecoins,” launched on App Store over the previous week. Users have already rated the crypto game with over four stars. According to the app’s Twitter posts, the game enjoys more than 40,000 users attempting to earn the Dogecoin rewards.
Meanwhile, recent developments might take DOGE’s price high. For instance, the news about Bots Inc., a tech firm planning to allow its clients to buy pre-owned Tesla cars using Dogecoin (DOGE), had analysts speculating high value for Dogecoin.
Levels to Watch
The DOGE/USD four-hour chart shows the most moving averages depicting bullishness. However, momentum and MACD indicators highlight seller presence as well.
For now, DOGE maintains its pivot level at $0.30. The meme coin might register new highs with magnified buying to overpower the initial resistance zone at $0.38. A break over this level might send the crypto towards the $0.40 mark. After that, buyers will face the resistance at $0.42.
For now, market players expect Dogecoin to rally higher due to institutional acceptance. For instance, the coin rose recently after Mark Cuban’s positive remarks.
Also, Watford F.C and EPL football club will have its players wearing Dogecoin logos following the sponsorship deal with Stake.com.
What do you think about the current situation in the Dogecoin market? You can share your thoughts below.
