The post Dogecoin Set To See New Heights Amidst Increased Accumulation, Claims Analyst appeared first on Coinpedia Fintech News

After the news of Elon Musk finally deciding to acquire Twitter, the meme currency, Dogecoin, surged nearly 10% in the early hours today. As per the deal, Elon Musk will pay $54.20 per share or $42 billion to acquire the firm.

At the time of publication, Dogecoin is changing hands at $0.063 with a fall of 1.26% over the last 24hrs. The dog-themed currency is still nearly 92% down from its all-time high of $0.74 in May 2021. The immediate resistance lies at $0.075, while the support is at $0.055.

A famous crypto analyst and trader, anonymously known as Smart Contracter, is claiming a bullish stance towards Dogecoin and informs his 211,200 followers on Twitter that the altcoin is currently in an accumulation zone.

Dogecoin On A Bull Run

He even believes that DOGE will move much higher than $0.065 soon.