The price of the Department of Government Efficiency (DOGE) cryptocurrency rose sharply following rumors about Elon Musk’s potential appearance in a Super Bowl commercial. Despite the ads not materializing, crypto community engagement was significant.
DOGE Price Surge
DOGE's value surged by 36% in the last 24 hours to trade at $0.06442, with trading volume rising by 233% to $17.7 million, driven by speculation about Elon Musk's involvement.
Technical Analysis: A New Pattern
DOGE's price action shows a bearish trend since mid-December 2024. However, a falling wedge pattern suggests a potential trend reversal.
Forecasts and New Meme Coins
If DOGE maintains its momentum, it could reach the resistance level of $0.07. Investors are also eyeing the new Meme Index (MEMEX) coin, which raised over $3.5 million in presale.
While DOGE shows signs of recovery, long-term indicators remain bearish. Meanwhile, new projects like Meme Index are capturing market interest.
