CandleFocus Dogecoin (DOGE) Unmoved by Elon Musk’s Latest Cryptic Post
2024-09-12
Author: Content Editor
Elon Musk's recent post referencing Dogecoin (DOGE) has not generated much market discussion or social activity. DOGE's trading volume has only increased by 3% in the past 24 hours, indicating waning interest in the meme coin. Musk's previous post about DOGE led to an uptick in social activity and value, but the latest post has not had the same effect. DOGE's social dominance and daily active address divergence have both decreased, suggesting reduced interest in the coin. The price of DOGE has seen a modest 3% surge, but the negative price-DAA divergence suggests the rally may not be sustainable. DOGE's technical setup indicates a potential reversal of its current uptrend, and if it fails to hold its 20-day EMA at $0.10, it may shed its recent gains and revisit its August 5 low of $0.08.
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