By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
    • About us
    • About Hinza Asif
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Doge Is Down 6% Despite Elon Musk’s Recent Remarks
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
    • About us
    • About Hinza Asif
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
  • Global
  • Japan
  • South Asia
  • Partners
  • Community
HOME > News > CRYPTOPEDIA > ALTCOINS NEWS > Doge Is Down 6% Despite Elon Musk’s Recent Remarks
ALTCOINS NEWSNews

Doge Is Down 6% Despite Elon Musk’s Recent Remarks

NFT Studio 24
Posted NFT Studio 24 December 15, 2021 444 Views 2 Min Read
Updated 2022/02/08 at 5:02 PM
Elon Musk’s & Doge
SHARE

The Dogecoin price forecast is pessimistic, as the cryptocurrency trades in the red a day after Elon Musk endorsement for DOGE on Tuesday.

The meme coins price has plummeted in the last 24 hours, shedding around 6.7 percent on the day. If the current trend continues, Dogecoins price may plummet to roughly $0.1574, its Monday close.

Tesla Should Accept Doge as a Form of Payment

With the potential to be utilized as a payment method, Dogecoin might move beyond being merely a meme coin. Elon Musk, the CEO of Tesla, has announced that Dogecoin would be accepted as payment for certain of Tesla’s items. This was revealed by the “Father of Dogecoin” via a tweet, as indicated below:

The price of Doge is up 24% after this tweet pic.twitter.com/BpPct650Px

— Fintwit (@fintwit_news) December 14, 2021

Elon Musk has already expressed his support for Dogecoin, stating that he intends to open a university in Texas where tuition costs would be paid in DOGE. 

Musk has also been quoted as claiming that Dogecoin might be a superior payment mechanism to Bitcoin.

It’s worth noting that every time the Tesla billionaire CEO mentions Dogecoin in one of his tweets, the joke coin’s price nearly doubles.

For example, DOGE price jumped as much as 40% from $0.1774 to an intraday high of $0.22 on Tuesday, only seconds following the aforementioned tweet.

Price Prediction for Dogecoin: Doge Might Drop by 12%

However, following yesterday’s rise, a reversal has occurred, threatening to push the Dogecoin price further lower.

On the four-hour chart, the current DOGE/USD price action has formed a falling flag, with the flag post being yesterday’s green candlestick to an intraday high. The current correction will continue if the resistance at $0.1847 is not overcome, where the 100-period Simple Moving Average (SMA) and the flag’s resistance line intersect.

If this happens, Dogecoin is projected to plummet to its initial price of $0.1774, a 12 percent decline from where it is now.

DOGE/USD Four-Hour Chart

DOGE/USD Four-Hour Chart

The declining daily trading volume and down-sloping RSI support our bearish Dogecoin price forecast.

Dogecoin pricing is sitting at $0.1791 at the time of writing, and a break above the 100-Sma might derail the aforementioned bearish narrative, with Tuesday’s intraday high over $0.22 being the upward objective.

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Nike Virtual Footwear Studio Finally Entered Into The Metaverse, Nike unveils Metaverse Footwear Studio with RTFKT acquisition
Next Article Crypto Santa Gained Nearly $34,000 In Net Profit - Shorting Avax And Luna Crypto. Crypto Santa donated crypto profit Crypto Santa Gained Nearly $34,000 In Net Profit – Shorting Avax And Luna Crypto.

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest News

The Metaverse is Alive and Thriving Experts Reveal its Enduring Potential
The Metaverse is Alive and Thriving: Experts Reveal its Enduring Potential
Guide METAVERSE May 31, 2023
Israel Crypto Conference
Israel Crypto Conference Highlights Essential Security Practices for Web3 Startups
News May 31, 2023
Beijings Web3 White Paper Unveiled to Drive Innovation and Propel Industry Growth
Beijing’s Web3 White Paper Unveiled to Drive Innovation and Propel Industry Growth
News May 30, 2023
Join us
Ad imageAd image

You Might also Like

Israel Crypto Conference
News

Israel Crypto Conference Highlights Essential Security Practices for Web3 Startups

May 31, 2023
Beijings Web3 White Paper Unveiled to Drive Innovation and Propel Industry Growth
News

Beijing’s Web3 White Paper Unveiled to Drive Innovation and Propel Industry Growth

May 30, 2023
Solanas Crypto An Exclusive Interview with Raj Gokal
News

Solana’s Crypto: An Exclusive Interview with Raj Gokal

May 30, 2023
Elliptic drives crypto adoption with advanced analytics.
News

Institutions Demand Advanced Blockchain Analytics to Drive Crypto Adoption: Elliptic

May 29, 2023
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

GET IN TOUCH

  • About us
  • Advertise with us
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance
//

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

Removed from reading list

Undo
Join us metaverse Join us metaverse
Welcome Back!

Sign in to your account

Register Lost your password?