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Why is Dogecoin (DOGE) Price Surging Today?

  • The DOGE price surged after Elon Musk announced his ambitious plan to save taxpayers $2T with “Department of Government Efficiency”.
  • With Musk making an unofficial reference to the largest memecoin, will the self-styled “Dogefather” of Dogecoin kickstart another bull rally for DOGE memecoin similar to its 2020-21 rally?
  • The Dogecoin crypto has breached its resistance trendline of the triangle pattern, experiencing a jump of 14.63% in the past 24 hours and a trading volume of $3.719 billion.
  • The EMA 50/200-day has recorded a Golden Cross in the 1D time frame, indicating a rise in bullish sentiment for Dogecoin.

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