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Dogecoin sees heavy purchases from whales while Elon Musk supports BTC in the new party’s Rollout
Dogecoin rallied more than 5% in the last 24 hours, climbing from $ 0.163 to $ 0.171, while the launch of America’s Elon Musk’s Elon Musk optimized around a more aligned political future.
Breakout is that -backing more than 1.1 billion in trading volume, establishing strong support at $ 0.166. Whale wallets were gathered aggressively during the transition, even though smaller holders came out, suggesting that updated institutional confidence in Doge.
News background
- The surprise of Elon Musk’s surprise about the America Party over the weekend dominated the political and crypto debate.
- His platform, which includes a strong pro-bitcoin language and sharp criticism of Donald Trump’s “anti-innovation” agenda, has brought speculation about Doge’s role as a cultural and financial property in the Musk movement.
- While there is no formal mention of Dogecoin made, the Musk history of the Doge’s integration with Tesla and X (formerly Twitter) products has filed speculation that the token can play a symbolic or transactional role in the new party’s vision.
- The announcement came amid greater economic uncertainty. President Trump’s July 9 tariffs are devastating the global markets, contributing to the volatility of crypto and equality.
- Despite this, Doge saw heavy purchases from the whale purse-especially the 1M-100m Doge-even the retail positions, according to on-chain data from the intoteblock.
Technical assessments
- The Doge has climbed 5.01% within 24 hours from 6 July 03:00 to 7 July 02:00, moving from $ 0.163 to $ 0.171.
- A breakout occurred between 12: 00–13: 00 on July 6, with a price jump from $ 0.166 to $ 0.173 to 1.14 billion in volume.
- Strong support established at $ 0.166, with the incorporation of price between $ 0.170 and $ 0.173 after peaking at $ 0.174.
- The main resistance observed at $ 0.173 during the sale of the latter (21: 00–23: 00).
- In the final time, Doge gained 0.85%, which breaks above $ 0.171 with known spikes at 1:16 (12.8m) and 01:36 (8.0m).
