Dogecoin Price Prediction as Elon Musk Talks to Fox News Owner About DOGE During Super Bowl – Time to Buy?

cryptonews.com:

The Dogecoin price has fallen by 1.5% in the last hour and by 4% in the past 24 hours, dropping to $0.080716 amid a similar fall for the cryptocurrency market as a whole. The altcoin is also down by 12% in a week and by 4% in the last 30 days, dragged down, like much of the market, by regulatory uncertainty (most recently surrounding Paxos and BUSD).

However, despite the negativity, Dogecoin enjoyed some good news over the weekend, with the Super Bowl providing images of Elon Musk wearing a Dogecoin T-shirt while sitting next to Fox News owner Rupert Murdoch. Such footage has provided further fuel for hopes that Musk will follow through on earlier hints that he might add DOGE payments to Twitter.

DOGE is an awkward position, technicals-wise. Its 30-day moving average (red) has peaked in relation to its 200-day (blue), and it appears that it has begun sinking downwards, predicting potential losses in the next few days.

DOGE's relative strength index (purple) is also in a difficult position, having fallen below 50 and towards 40 in the past few days. Given that it had spent much of January in a high position, it could have further falls in store, implying that the altcoin's price will drop with it.

Even though DOGE's technicals and wider industry news seem to have set the token up for additional losses in the immediate future, it has at least a few positives to highlight.

As noted above, one of the most striking images of Super Bowl LVII was that of Elon Musk sitting next to Fox Corp. and News Corp. owner Rupert Murdoch, with Musk also wearing a rather fetching Dogecoin T-shirt.

Unsurprisingly, Musk's T-shirt generated plenty of commentary on Twitter, with the Crypto Twitter communities getting excited about the Tesla and