At the time of this writing, Dogecoin is ranked 6th in the crypto market with a total market cap of $ 55.46 billion. The coin, created in 2013, has received strong support from Tesla CEO Elon Musk and Dallas Mavericks owner Mark Cuban.
Recently, Coinbase Pro has listed dogecoin after generating a profit of over 6,000% over the course of 2021 and will start trading on the platform starting today.
Catching the attention of investors, ‘Dogefather’ Elon Musk uploaded a picture on twitter about Dogecoin.
Found this pic of me as a child pic.twitter.com/hUEKluRAdP
- Elon Musk (@elonmusk) June 2, 2021
He once stated, ‘has never sold Dogecoin and will not sell dogecoin’.
In the meantime, let's take a look at the DOGE/USDT price movement chart.
After Dogecoin experienced a large price drop in May, investors again saw a price increase of more than 30% after listing on Coinbase Pro.
Following that, Dogecoin also penetrated the RBS zone (resistance become support) around $ 0.40 where the zone is seen as difficult for Doge to pass before.
Crypto analysts expect, if the price movement manages to continue the bullish trend and can break the SBR zone (support become resistance) around $ 0.55, the expectation for a higher rise will lead to the next resistance level around $ 0.70.
The level will be tested again before the price expects to reach the latest all -time high (ATH).
However, if the price makes a lower decline, the RBS zone around $ 0.40 will be the main focus again before the lower decline is expected to head around $ 0.25.
At the time of writing, Dogecoin is trading at $ 0.42 with a jump of more than 40% in 24 hours.
