$DOGE is on an upward streak, trading at $0.3503 and a substantial trading volume of $3.33 billion in the last 24 hours. Currently ranked #7 by market cap, $DOGE is nearing a key resistance level at $0.40, which aligns with a descending trendline. If it breaks this barrier, the next resistance targets are $0.5 and $0.75, and if the market supports the momentum, we can see Dogecoin reaching the long-awaited target of $1.
The recent speculation regarding the inclusion of DOGE in X payments has also contributed to its upward movement. Elon Musk, the man who is sometimes called “Dogefather” because of his commitment to Dogecoin, also creates this buzz. Arkham Intelligence claims that Tesla, his electric vehicle firm, has begun to accept Dogecoin for payments and has $1.1 billion in Bitcoin. Because of these rich backgrounds, many people are inclined to think whether DOGE will be part of the new X Money system.
In another development, the Canadian investment firm Spirit Blockchain Capital has published a report detailing the strategy of generating capital from its Dogecoin possession. The company has recently purchased Dogecoin Holdings and plans to utilize DOGE as a treasury reserve asset as well as analyze products associated with major other cryptocurrencies.
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