DOGE Anticipates Surge with Musk-Trump Meeting

Speculation grows as a Musk-Trump meeting might boost DOGE's value.

Dogecoin (DOGE) has shown signs of bullish momentum, with its price rising by 1.12% over the past day. As DOGE tests key resistance levels, the crypto community is buzzing with speculation about the potential impact of an upcoming online meeting between Elon Musk and Donald Trump on X, scheduled for Monday, August 12, 2024. Many believe this high-profile event could drive DOGE's value higher, given Musk's known influence on the cryptocurrency.

Currently, DOGE faces resistance at $0.1055 and $0.1080. If the price breaks through these levels, it could signal a move toward the $0.11 range or higher. However, if the bulls fail to maintain momentum, consolidation within the $0.10-$0.1150 range may be the more likely scenario for the next few days.

From a midterm perspective, DOGE recently experienced a false breakout at the support level of $0.09136. While buyers have yet to accumulate enough strength to fully seize the initiative, the market remains cautiously optimistic. The anticipation surrounding the Musk-Trump meeting adds an extra layer of intrigue, as both figures have historically been able to sway market sentiment, particularly in the volatile world of cryptocurrency.

photo source / Blockonome