By: Isha Das
The price of Dogecoin has experienced a surge due to speculation regarding Twitter's possible incorporation of the cryptocurrency for payments. Although Twitter has neither officially confirmed nor denied the rumors, traders have been quick to invest, leading to a price rise of more than 23% in a mere five hours.
An account known as 'X Payments' is believed to be at the heart of the speculation and price surge. But the rapid gain was short-lived, with only about 4% of the growth remaining at the publication time.
Renowned crypto analyst 'Skew' suggests that for a sustainable uptrend, Dogecoin must properly reclaim the 1W pivot ($0.08750) and the Yearly open. Moreover, the price trend must align with the 4-hour Exponential Moving Averages (EMAs) and maintain a Relative Strength Index (RSI) consistently over 50. These speculations, though unconfirmed, have stoked hopes for potential Dogecoin buyers and current holders.
The market is anticipative for four significant signs to indicate a Dogecoin rally:
A valid narrative,
Key price level reclaim,
Sustained 4-hour Trend,
Better spot flows to support speculative purchases.
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