Dogecoin Price Outlook After X Rolls Out Smart Cashtags for Crypto and Stocks

Dogecoin price holds above $0.094 after X rolls out smart cashtags for crypto and stocks, despite mild market weakness. 

Over the last 24 hours, the meme coin fell by 0.68% and traded around $0.0943. Bitcoin price stood solid at above $74,000 following a period of short cooldown following recent highs. Ethereum also held steady above the $2,300 level during consolidation.

Dogecoin re-experienced selling after not being able to maintain momentum above the $0.0980 resistance zone. The collapse around the psychological $0.10 mark undermined the short-term sentiment. 

Other key tokens, such as XRP, SOL and ADA, moved sideways. In the meantime, new delays in the CLARITY Act created an additional unpredictability to the markets of digital assets.

Elon Musk’s X Rolls Out Smart Cashtags for BTC, ETH, XRP, and DOGE

Dogecoin price has also been stable since Elons Musk X launched Smart Cashtags on crypto and stocks. The feature provides real-time financial information right in the social site. 

On April 15, the rollout was announced by the X product head Nikita Bier. iPhone users in the United States and Canada can now use the update.

Smart Cashtags enable users to look up tokens or stocks by cashtags or contract addresses. Each cashtag will show related posts and a real-time price chart when tapped. The feature is valid to major cryptocurrencies, such as BTC, ETH, XRP, SOL, and DOGE. It includes the popular stocks like TSLA, MSTR, and COIN as well.

The launch marks another step toward Musk’s goal of transforming X into an all-in-one platform. Users are now able to follow market changes without leaving their timelines. Bier also affirmed a collaboration with Wealthsimple, a Canadian brokerage firm. This partnership will help in future trading functions under the app.

DOGE Eyes Breakout as Dominance Prints Textbook Bottom Signal

Crypto analyst Trader Tardigrade pointed out a possible change in the market power of Dogecoin in comparison with smaller altcoins. 

He indicated the Doge.D to Others.D ratio of the three week chart. This metric compares Dogecoin’s dominance with that of other minor tokens. 

The chart has just printed a Doji and Hammer candle. The patterns are usually indicative of a potential bottom. Should this be proven true, Dogecoin would start to outperform the rest of the altcoin market.

Is Dogecoin Price Preparing for a Breakout Above $0.10?

As of the reporting, the DOGE price was around $0.095, having settled above short-term support. The DOGE depicts convergence in the range of $0.090-$0.100. 

The MACD indicator is also flattening which indicates decreasing bearish momentum. There is a slight change of the bars on the histogram to positive, which is an indication of a possible shift. The RSI, in the meantime, is at about 54, which reflects a neutral-mildly bullish strength.

Dogecoin Price Outlook After X Rolls Out Smart Cashtags for Crypto and StocksDogecoin Price Outlook After X Rolls Out Smart Cashtags for Crypto and Stocks
Source: DOGE/USDT 4-hour chart: Tradingview

If the future Dogecoin outlook holds above the $0.090 support, buyers may attempt another push toward $0.100. The break out above $0.100 would open the flood gates to $0.110. A continued strength above $0.110 can aim at the next target of $0.120. However, a breakdown below $0.090 could expose $0.085 as the next downside level.

Source: https://coingape.com/markets/dogecoin-price-outlook-after-x-rolls-out-smart-cashtags-for-crypto-and-stocks/