Elon Musk, the Senior Advisor to the President of the United States, has teased yet another Dogecoin rally. Elon Musk shared a post of a Ghibli Anime generated using the newly launched GPT‑4o AI on X today (March. 27,2025) hence sparking a potential rally.
Dogecoin has been struggling recently with the price falling by almost 3% over the last month. However, Elon Musk’s Ghibli Anime could spark a recovery for the struggling memecoin. A magnificent rally could spark Dogecoin surge to a new all-time high according to analysts that are optimistic after Elon Musk’s post.
Elon Musk’s Dogecoin Ghibli Anime Sparks Optimism for DOGE
The price of Dogecoin has often followed public comments by Elon Musk who has been a strong supporter of DOGE. In most instances, whenever Elon Musk shares something related to Dogecoin, the dog-themed memecoin appreciates. For instance, Elon Musk merely replied “Yeah, D.O.G.E.” to questions regarding creation of the U.S “Department of Government Efficiency” which sparked a 15% Dogecoin surge in October 2024.
In the most recent incident, Elon Musk took to his X page to share his GPT-4o generated picture of himself holding the Dogecoin ‘dog’. Following this move, many crypto traders have interpreted this to mean DOGE could surge soon. Furthermore, Musk added the caption “theme of the day” on the post.
Reactions by the Dogecoin Community
Following the Ghibli Anime by Elon Musk, enthusiasts are optimistic that the price of Dogecoin could follow. Notably, the Elon Musk (Parody) account with over 1.6 million followers replied that “DOGE WILL RISE” on the reply to the post by Elon Musk. Nonetheless, this is not the only optimistic reaction to the Dogecoin Ghibli Anime.
Crypto analyst ‘Dogecoin Ride’ also expressed his optimism. The analyst shared the statement “$DOGE to Mars” and implied that “we have a bullish trend signal.” Furthermore, the analyst predicted that DOGE could surge to $0.69 as depicted below.
Dogecoin Is Rising After Range-Bound Price Movement
DOGE has been on an upward price movement after ending its long period of market consolidation. During the range-bound movement, the price stayed between $0.1657 and $0.1767 from March 12 -24, as per the 4-hour chart on TradingView. But, following a shift in sentiment, DOGE managed to surpass resistance recently, finding itself at $0.2011 before rebounding to the current price level.
DOGE is currently trading at $0.1947 marking over 4% dip on the day. However, higher price lows continue to appear as buyers try to keep pushing the market upward according to the bullish trendline. Besides the current momentum, Dogecoin might try to surpass the essential resistance threshold at $0.2084. The price of DOGE could achieve targets at $0.2191 and $0.2281 if it continues to move upwards in the upcoming trading periods.
Dogecoin’s Relative Strength Index (RSI) currently sits at 60.67 while showing no signs of reaching overbought territory since it recently slowed down from a peak value of 70.08. The bullish outlook will remain valid if both the RSI stays above 50 and the price maintains a position above the trendline. Nonetheless, the price might retest lower support levels if it falls beneath the $0.1863 support hence invalidating the bullish momentum.
#blockchain #crypto, #decentralized, #distributed, #ledger
This news is republished from another source. You can check the original article here