Elon Musk Is Searching DOGE Place in the Sun
The result of the 2-year consolidation – the growth by 800%
As you can see in the chart, the DOGE price has been moving for 2 years in a wide consolidation corridor. However, in July 2020, activity in the DOGE market picked up the pace. After a sharp price growth by more than 100% for the week, sellers corrected this shot for 3 months. The growth took place on high volumes and clearly indicated an aggressive entry into the position of big money. And the implementation of the scenario began in November 2020.
Several times after his tweets, DOGE soared to great heights. For example, after today's series of tweets dedicated to DOGE, the price has risen by 60%. Although, this case is not comparable to the situation on 28-29 January, when after Musk’s tweets the DOGE market grew by 700% in 2 days.
Elon Mask's tweets always come at the right time
Still, there is one obstacle. For such growth, in addition to the news background, there must be a favorable market situation. If we look closely at the situation today, we see that the DOGE growth began yesterday, after the breakdown of the consolidation triangle up:
After the market showed that is ready to continue growing, as there was no reaction from sellers concerning growth on 3 February, we saw these wonderful tweets. Today's growth did not repeat the record of 28-29 January. It seems that buyers are exhausted. Let's see if there will be a total sale on the DOGE market due to such an overheated price.
