What the 4-Day 80 % Price Surge Means
In the past five days, Dogelon Mars’s price has surged by 53 per cent. At some point during the 6-day bull run, the prices had risen by up to 80 per cent. However, yesterday’s strong bearish move saw the crypto lose 11 per cent.
Why Did Dogelon Mars Price Rise?
The Dogelon Mars price has been aggressively bullish for the past five days. The meme coin has continued to gain during the 6-day period because of Elon Musk’s activities, which included expressing support for the Dogecoin crypto.
Dogelon Mars came as a result of Elon Musk’s continued support of Memecoin. In fact, the influence of its founding was so big that its ticker is called ELON and has piggybacked on the idea of Elon Musk’s plan to colonize the moon. Therefore, for many of its users, public support of the Dogecoin crypto also results in Dogelon Mars gaining traction and its prices going up.
Dogelon Mars Price Prediction
To get an idea of where I expect the prices to trade, we have to look at the price action of the past five days. On June 23, the Dogelon Mars crypto started an aggressive bullish move that resulted in the crypto gaining 9 per cent. The trading session was followed by two other strong bullish sessions that resulted in the cryptocurrency rising by 80 per cent.
However, by the late hours of the June 25 trading session, the prices had already started to come down. On that day, the trading session closed with a market gain of 13 per cent. The bearish trend continued yesterday, June 26, when Dogelon Mars lost 11 per cent of its value. However, today, the trading session has resumed the bullish trend despite starting to bearish in the morning hours.
I expect the Dogelon Mars bullish trend to continue throughout the session. There is a high likelihood that we will see the prices closing above the 4.0e-7 price level in today’s session. In the coming sessions, there is a high likelihood that we will see prices trading above the 5.0e-7 price level. My analysis will only be invalidated if prices trade below the 3.3e-7