One of the biggest questions was whether or not Elon Musk would mention Dogecoin in the show.
Dogecoin has strong fundamentals as it has won the interest of the meme god, Elon Musk. On April 28, 2021, he tweeted from his official Twitter handle,
SNL May 8”
And he appeared! Musk played a financial expert named Lloyd Ostertag, who spoke with Michael Che about the meteoric rise in Dogecoin’s popularity and value.
“They’re a type of digital money, but instead of being controlled by a central government, they’re decentralized using blockchain technology,” Ostertag shared. “Lately, prices have been soaring for cryptos like Bitcoin, Ethereum, and especially Dogecoin.”
Whatever he said was not enough to keep doge at its ATH of 0.74$ and it plunged to the lowes of 0.44 $. The question is, Is the dogecoin party over? Let’s move to the chart to see what it says.
As the SNL neared, dogecoin made an ATH of 0.74$, and when the prices ran to an abrupt fall to the previous high of 0.44$. On the chart, as seen, there are two support levels to hold the prices up. The first significant support is at 0.428$ as seen on H1 timeframe and 0the next is at 0.344$.
The prices are expected to gradually bounce back from the above support level to ATH of 0.744$.
RSSI level at 0.38 indicates a strong buy and 14 EMA and 21 EMA are still bullish indicating a rise.