DOGE Teases the Possibility of $0.15

The crypto market is struggling to come up with a new high, including the likes of BTC and ETH. This has not ruled out the possibility of rebounding from lows; however, it has raised questions about whether tokens will make an upward move and the pace at which they will do so. Dogecoin’s DOGE, for one, could be the first token to advance on the price charts. The dog-themed meme coin only has to sustain the close value of $0.10. This would automatically trigger a bull run for the value of $0.15.

DOGE has done that before when it exchanged hands at around $0.105. Fueling the bull run is also a recent post by Elon Musk. Musk, who is always active on X, uploaded an image of himself sitting with the tag DOGE. The caption read, Department of Government Efficiency. This has accomplished two objectives: firstly, it has sparked speculation that Donald Trump, if elected to the US Chair, would soon appoint him to a crucial position; and secondly, it has reinforced his commitment to back Dogecoin regardless of his future actions and whereabouts.

DOGE enthusiasts were quick enough to pick up the hint in their favor, assuming that the token is ultimately poised for an upswing if Trump wins or if Elon next integrates different payment methods on X. He has backed adding crypto to the platform, but the plan keeps taking a back seat.

Nevertheless, a single post fulfilled the requirement to wake up DOGE’s sleeping holders. Defined as a playful nod, the image has also sparked a discussion about the post’s generation by AI (artificial intelligence).

Many followers of his profile have taken the post to a different side by suggesting that efficiency is indeed important for businesses and success in governance would only be achieved if it is balanced with understanding about the impact on society.

The development follows the dismissal of a lawsuit Elon and Tesla won, alleging they inflated the price of DOGE by turning it into a $258 billion pyramid scheme.

The meme coin DOGE is currently trading at $0.09827, up 2.33% over the past 24 hours. It has indeed made significant gains in comparison to the likes of BTC and ETH at the time of writing this article. The top-ranked meme coin in the same segment is aiming to break the $0.1 mark. The last time it happened was at the end of August 2024. A slight decline for higher lows is better, for they likely form a foundation for the upcoming surge.

Trends suggest a potential increase if upcoming incidents proceed as expected. The Federal Reserve was determined to cut rates. The Federal Reserve now has a compelling reason to lower rates—this relates to the upcoming release of unemployment data.

All sights are now on DOGE and its daily chart. Chances are that it will hit the mark of $0.1 in October 2024, as the near-time project estimates $0.08 in the next 30 days, for a decline of 13.78%.