Dogecoin price set for 25% jump after Elon Musk’s new cryptic DOGE post

Dogecoin (DOGE) jumped 2.5% to $0.20 after Elon Musk posted an image featuring the memecoin's mascot, leading to a 29% surge in response. This extended a 55% rebound over two weeks from its recent low. Technical analysis suggests further gains are possible, as DOGE is forming a bullish Adam and Eve double-bottom pattern, signaling fading selling pressure. A confirmed breakout above the $0.216 neckline could target $0.260, a 25% increase that aligns with the pattern's projection and the 0.382 Fibonacci retracement level on the weekly chart. Furthermore, a dense concentration of short liquidations between $0.215 and $0.27 suggests that breaking the neckline could trigger a short squeeze, accelerating the move toward the $0.26 target.

(Source：Cointelegraph)