Doge Father

Is DogeCoin Party Over after Elon Musk SNL?

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,

“The Dogefather

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.

Dogecoin Chart

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.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Check Also


France tests CBDC and Blockchain for Govt. Bonds

Banque de France has tested the use of its CBDC and Blockchain technology in executing …

Leave a Reply

Your email address will not be published. Required fields are marked *