With the increase in the possibility of leaving Elon Musk and his team from the famous Doge project, the price of Dogecoin has become the focal point today. Some experts argue that the project will continue to rise in the price of Dogge, although the project breaks its connection with Musk.
Elon Musk can be separated from the promising project
The price of Dogecoin is still close to the lowest levels since November last year, maintaining a decline trend today. This decrease is largely due to the concerns of investors after Donald Trump’s comprehensive taxes. In addition, the possibility of Elon Musk’s abandonment of Dogge project this year increases in Polymarket.
Investors on Polymarket believe Elon Musk will leave the Dogge project this year. A questionnaire with an asset worth approximately 131 thousand dollars shows that this possibility increased to 77 %while 55 %on April 1.
This possibility increased even more after a democratic judge won a seat in Wisconsin. Musk spent billions of dollars in the campaign, but the result was against him. In addition, the fact that Tesla shares lose more than 40 %value this year and depreciate more than 1 trillion dollars are among the factors that increase this possibility.
If Musk is separated from the Doge project, Tesla shares are thought to be recovering. Analysts believe that the departure of Elon Musk from Doge will focus more on his company.
Elon Musk’s departure from the project can have a psychological effect on the price of Dogecoin. In particular, because Musk is one of the most known supporters of Dogecoin, this may lead to a temporary price drop. However, it is estimated that this decline will not be long -term.
Analysts draw attention to Dogecoin recovery signals
The ongoing Dogecoin price decrease may result in a strong recovery. According to a crypto analyst, if Dogge manages to remain above $ 0.15, it may increase by 250 %in the long term.
In the daily graph, Dogecoin seems to be a pair of foot formation at $ 0.1440. The neckline of this formation is located at $ 0.2058. The double foot formation is usually considered as a rise signal.
There is also a large falling wedge formation on the graph. This formation consists of two falling trend lines that close to each other, and these lines are already united. Another positive sign is that the Bollinger Band Trend (BBTREND) indicator has created a rising deviation model.
The price of Dogecoin is expected to fall to $ 0.1441 before $ 0,1441, and then it is expected to recover up to $ 80 %to $ 0.2820. However, if the level of rise will be considered invalid if it falls below 0.1441 dollars, and the probability of decreasing the price up to 0.1 dollars will increase.
