Dogecoin (DOGE) extended its gains on Monday and during the weekend after successfully retesting a key support level on Friday.
Dogecoin price rises for a third consecutive day after bouncing from $0.128, Friday's low. Elon Musk's promotion of the meme coin has reignited interest in Dogecoin . A daily candlestick close below $0.126 would invalidate the bullish thesis. Dogecoin extended its gains on Monday and during the weekend after successfully retesting a key support level on Friday.
daily chart Based on IntoTheBlock's Global In/Out of the Money , nearly 460,060 addresses accumulated 59.14 billion DOGE tokens at an average price of $0.119. These addresses bought the dog-based meme token between $0.103 and $0.135, which makes it a key support zone. Interestingly, the zone mentioned from a technical analysis perspective, the $0.119 level, coincides with the GIOM findings, making this zone a key reversal area to watch.
chart. Source: IntoTheBlock Elon Musk's support for Dogecoin Elon Musk's involvement has reignited interest in Dogecoin, particularly following hisco-founding of the Department of Government Efficiency , a concept aimed at streamlining US government operations and reducing waste. During a New York campaign rally for former President Donald Trump on Sunday, he claimed this initiative could save the United States $2 trillion in tax spending, asserting and reducing costs.
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