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The current sentiment towards Dogecoin ($DOGE) appears bullish, and it seems poised for a massive upside rally due to the formation of bullish price action and Elon Musk’s recent views on the Department of Government Efficiency ($DOGE). These factors appear to be shifting the market sentiment that $DOGE has been witnessing.
Elon Musk and Blockchain Technology
Recently, Elon Musk, the billionaire founder of SpaceX and Tesla, revealed that he is exploring blockchain technology to make the $DOGE department more efficient and to track government performance. Musk’s thoughts have gained significant attention from crypto experts and analysts.
Looking at this, Cardano blockchain founder Charles Hoskinson posted on X (formerly Twitter) and stressed, “I’m thinking this is a job for a triumvirate of Cardano, Bitcoin, and Midnight. Yo, Dogemaster Elon Musk, give us a call. We’ll do it for free.”
Looking at the historical price momentum, experts are expecting a similar kind of upside momentum. Based on the recent price action, if $DOGE breaches the trendline and closes a four-hour candle above the $0.365 level, there is a strong possibility it could soar by 20% to reach the $0.43 level in the future.