- Dogecoin receives new support from Mark Cuban and Guy Fieri.
- Dogecoin price rises 70% in less than 48 hours and hits the center line of the rising channel.
- A continuation of this bullish momentum could catapult the DOGE 118% towards 0.245.
The Dogecoin seems to be in the focus of the celebrities again, which led to another hype among the leisure investors.
Mark Cuban announces big Dogecoin merchandise sales
Billionaire entrepreneur Mark Cuban announced that NBA Mavericks sales were up 550% last month.
Cuban tweeted:
We have now sold over 122k Doge worth of merchandise! We’re not going to issue one of these doges again. So keep buying.
Mark Cuban announced in early March that his team, the Dallas Mavericks, would be accepting Dogecoin as payment.
In addition, Guy Fieri, an American restaurateur, tweeted
Rollin’ out to the MOON #Dogecoin pic.twitter.com/OHwuihdlUD
– Guy Fieri (@GuyFieri) April 13, 2021
The support of the celebrities should bring the Dogecoin another rally, similar to the rally in early January, and let the DOGE shoot through the roof.
Dogecoin all time highs
Dogecoin price development appears to be within a potential upward channel. This setup is achieved when the series of higher highs and higher lows are connected by trend lines. So far, the DOGE has made two swing lows and is now aiming for the second swing high.
At the time of this writing, the Dogecoin was trading around the center line of the rising channel. An important closing price above this barrier can catapult the meme coin towards the 141.4% and 161.8% Fibonacci extension levels of $ 0.124 and $ 0.199, respectively.
If the bullish momentum continues, the DOGE will target the upper trend line of the channel and so $ 0.245 is our ultimate target which is a 118% rally.
DOGE / USDT 1-day chart
What must not happen now is that we lose our nerve and start taking profits. If the Dogecoin does not manage to overcome the $ 0.124 on a daily closing price basis, then we have to be prepared for a correction.
In such a scenario, the DOGE could fall 30% towards the $ 0.086.
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