coinpedia.org
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.