2022-07-03 14:47:59

Dogecoin (DOGE) Could Use Some Lift – An Elon Musk Tweet, Perhaps?

Market observers are seeing Dogecoin (DOGE) price retreating back into the red territory, expecting the meme coin to register new lows on a weekly, monthly and even yearly basis if some support does not come quickly to lift the sluggish coin. As of this writing, DOGE is trading at $0.0653, down 4.5% in the last seven days, data from Coingecko show, Sunday. Tesla CEO Elon Musk has always been an avid Dogecoin supporter. His fame and standing on the worldwide markets have enabled him to significantly influence the price and appeal of DOGE. Suggested Reading | Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls Where’s The Musk Tweet When Dogecoin Needed It? As DOGE takes a heavy beating in the ongoing bear market, it is only natural to think that, perhaps, another tweet from Musk might provide some boost of energy to the lethargic coin? Based on Coingecko charts, DOGE is down 0.6 percent in the one-hour timeframe, and 3.0 percent in the last 24-hours. Since the Dubai Economic Forum, where the billionaire talked about Twitter and steered clear of any topic about cryptocurrency, DOGE hasn’t received any social media “promotion,” especially from its superfan, Musk. As of Sunday’s quick overview, DOGE price looks bearish as analysts noted some weakness to retrace further; a consolidation has developed below $0.68. DOGE total market cap at $8.69 billion on the weekend...

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