April 20, 2023June 8, 2023

Dogecoin surges as Musk changes Twitter logo to shiba inu

Today, Dogecoin showed green against the backdrop of April 20 “Doge’s Day”, which influenced the mood of investors. Despite the overall decline in the cryptocurrency market over the past 24 hours, Dogecoin technical indicators indicate the presence of a bullish momentum.

One important technical indicator is Dogecoin’s 30-day moving average rising above the 200-day moving average, which is generally seen as a positive signal. In addition, the Relative Strength Index (RSI) crossed 60, pointing to potential further price gains.

Another factor supporting Dogecoin is the continued support of billionaire CEO Elon Musk. Musk recently partnered with Twitter and eToro to enable cryptocurrency trading on the platform, and there is speculation that Dogecoin could be included in Twitter’s digital payment plans unveiled in January.

Musk also recently replaced Twitter’s iconic bird logo with an image of a Shiba Inu dog, sparking speculation about his plans for Dogecoin. As Doge’s Day unfolds, it remains to be seen if Elon Musk will reveal any further plans for Dogecoin. However, Dogecoin’s technical indicators and Musk’s continued support could potentially contribute to his positive performance in the cryptocurrency market.

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