Dogecoin Up as Musk Says Tesla Is Accepting Payments - Aliens: AI Crypto News & Markets Updates

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Dogecoin Up as Musk Says Tesla Is Accepting Payments

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Crypto Briefing

Fri, Jan 14, 2022

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Dogecoin jumped today after Elon Musk revealed that Tesla had started accepting the asset for merchandise payments.

The Tesla and SpaceX CEO posted a tweet Friday confirming that his electric car company had started accepting Dogecoin for merchandise payments.

Despite the significant gains Dogecoin has posted over the last few days, the asset has some hurdles to overcome to maintain its bullish momentum.

Moreover, it must breach the 50-three-day moving average at $0.23 to confirm a potential breakout from the consolidation pattern.

If Dogecoin breaches the 50-three-day moving average, sidelined investors could be encouraged to re-enter the market.

Breaching the critical area of demand could signal a break of the 200-three-day moving average, likely resulting in further losses.

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