Department Of Government Efficiency Price Pumps, Bulls Buy This

The Department of Government Efficiency price surged 36% in the last 24 hours to trade at $0.06442 as of 04:21 a.m. EST on trading volume that skyrocketed 233% to $17.7 million.

The surge in the DOGE price was highly favored by the speculations that surrounded Elon Musk’s potential appearance in Super Bowl LIX commercials.

Rumors were that Musk was planning to spend $40 million on ads addressing government spending inefficiencies and promoting his ventures like Tesla, X, Dogecoin, and SpaceX.

However, the ads did not appear, which left the crypto community disappointed.

Hey @elonmusk !! Where’s the #DOGE commercials on #SuperBowl

I’m NOT Watching this #Fixed the game for nothing🙄 #StillWaitingOnElonSuperBowlCommercial pic.twitter.com/eIMKePjTmw

— No Group Think – critical thinking/ Rule of Law (@Here2seejustice) February 10, 2025

Department Of Government Efficiency Price Aims For A Recovery

The DOGE price has been in a prolonged downtrend, as seen from the sharp decline since mid-December 2024. The price consistently made lower highs and lower lows, confirming the bearish trend. 

However, a key technical pattern is now emerging—the formation of a falling wedge, which is typically a bullish reversal pattern.

The Department of Government Efficiency price action within the wedge showed compression, with the lower trendline acting as strong support and the upper trendline as resistance. 

After weeks of consolidation, DOGE has now broken out of this pattern with an upward move, suggesting a potential trend reversal or at least a relief rally.

Despite this breakout, the price of the Department of Government Efficiency remains significantly below the 200-period Simple Moving Average (SMA) on the 4-hour chart at $0.10944, indicating that the overall long-term trend is still bearish, according to data from GeckoTerminal. 

However, in the short term, momentum appears to be shifting.

The 50-period SMA is at $0.04783, and the price of DOGE has now moved above this level, indicating improving short-term momentum.

The Relative Strength Index (RSI) is at 63.04, indicating that the asset is gaining strength but is not yet in overbought territory (above 70).

Meanwhile, the Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), which is a bullish alignment. The histogram also shows increasing positive momentum, confirming the recent upward price movement.

DOGE To Maintain Its Breakout Momentum

If the DOGE price maintains its breakout momentum, the first resistance level to watch is around $0.07, which is a psychological level and previous price support. If the Department of Government Efficiency price successfully flips this mark into support, the next major target would be the 200-period SMA at $0.10944. 

A strong move above this level would signal a long-term trend reversal, potentially pushing DOGE toward $0.15 or higher in the coming weeks.

As the DOGE price surges, investors are shifting focus to a new meme coin called Meme Index (MEMEX). According to 99Bitcoins, a prominent crypto channel on YouTube that boasts over 724K subscribers, MEMEX has the potential to be the next 100x crypto.

Meme Index Presale Amasses Over $3.5 Million—Next Big Crypto?

Meme Index is the world’s first decentralized meme coin index, and it’s already closing on $4 million raised in its presale.

The new project is building the first on-chain meme coin index investing platform, providing crypto users with a hassle-free way to get diversified exposure to the sector. 

The MEMEX token offers four diversified investment baskets: Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index. Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking high returns while willing to accept high risk.

GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!

— Meme Coin Mania (@MemeCoinMania77) February 5, 2025

MEMEX holders can also participate in the project’s presale staking pool, which currently provides a stratospheric annual yield of 650%. 

You can purchase MEMEX tokens on the official website for just $0.0160352.

Buy MEMEX tokens here before a price hike in 20 hours to secure the best deal.

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