The Dogecoin (DOGE) community was delighted by Elon Musk’s unexpected support during this year’s Super Bowl over the weekend.
While wearing a Dogecoin-themed t-shirt, Musk was spotted sitting next to media mogul Rupert Murdoch, the owner of the Fox empire and this year’s broadcaster of the Super Bowl. Notably, Musk sparked a social media debate after insinuating that Dogecoin was a topic of discussion with Murdoch.
Musk was replying to a tweet by Genevieve Roch-Decter, a former $100 million money manager, that questioned the topic of discussion between the two billionaires.
The tech billionaire has been pushing for different organizations including McDonald’s to accept Dogecoin as a form of payment. With Twitter already working on a payment feature, it is anticipated that this meme-coin will be a top priority.
Dogecoin: Price Analysis & Market Outlook
The Dogecoin price bounced back from $0.1 after the January crypto relief rally. The second largest proof-of-work (PoW) secured blockchain after Bitcoin enjoys a global user base of about 5,145,693. As such, the bulls are likely to take over from the current price of about $0.0832.
Dogecoin price, however, continues to give a neutral perspective with possibilities of more consolidation in the coming weeks. As a result, over $2.39 million has been liquidated from the Dogecoin market according to the latest update from Coinglass.
On the daily time frame, the 50 and 200 MA just turned out to be supported despite Bitcoin’s death cross. If Dogecoin follows Baby Doge in price action, then the former is likely to rally beyond $0.155 to fully invalidate the 2022 bear market.
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