Dogecoin gathered more than 5% in the last 24 hours and climbed from $ 0.163 to $ 0.171, when Elon Musk’s launch of America Party burned optimism around a more crypto-adapted political future.
The outbreak was supported by over 1.1 billion in trading volume, which established strong support for $ 0.166. Whale wallets accumulated aggressively during the move, even when smaller holders went out, which suggested renewed institutional confidence in DOGE.
News Background
- Elon Musk’s surprise message about America Party over the weekend repeated both political and crypto debate.
- His platform, which includes strong pro-bitcoin language and sharp criticism of Donald Trump’s “Anti-Innovation” financial agenda, has given rise to speculation about the role of Dog as a cultural and financial active in Musk’s movement.
- While no formal mention was made of Dogecoin, Musk’s history of integrating Doge in Tesla and X (formerly Twitter) products has given rise to speculation that the token can play a symbolic or transaction role in the new party’s vision.
- The message comes in the midst of a broader financial uncertainty. President Trump’s 9th of July deadline weaves greatly over the global markets, contributing to volatility in both crypto and stocks.
- Despite this, DOGE HUGE SUPPLY BUYING FROM WALL WALLING WALKS-ISEAR those who had 1 m-100 m DOGE-self when the retail positions fell, according to data from Intotheblock.
Technical analysis highlights
- DOGE rose 5.01% over 24 hours from July 6, 03:00 to 7 July 02:00 and moved from $ 0.163 to $ 0.171.
- A breakout happened between 12: 00–13: 00 on July 6 with price hopping from $ 0.166 to $ 0.173 of 1.14 billion in volume.
- Strong support established at $ 0.166, with the price consolidated between $ 0.170 and $ 0.173 after topping $ 0.174.
- Key resistance observed at $ 0.173 during the sale of late session (21: 00–23: 00).
- In the last hour, DOGE increased 0.85%and broke over $ 0.171 with remarkable spikes at. 01:16 (12.8 m) and 01:36 (8.0 m).
