Biggest Movers: DOGE Surges Following Elon Musk Comments on the Meme Coin

Dogecoin was 1 of the lone crypto tokens to commercialized higher connected Saturday, arsenic comments from Elon Musk boosted prices. Speaking successful a Twitter Spaces centered astir the FTX collapse, Musk was heard saying: “Doge to the moon.” Solana connected the different manus extended its declines, falling by implicit 15%.

Dogecoin (DOGE)

Dogecoin (DOGE) was 1 of today’s lone gainers, arsenic the token was boosted by comments from Tesla and Twitter CEO Elon Musk.

Following a debased of $0.0793 connected Friday, DOGE/USD roseate to a highest of $0.09399 earlier successful today’s session.

This surge saw the token ascent by arsenic overmuch arsenic 6%, breaking retired of a cardinal absorption level of $0.08900 successful the process.

DOGE/USD – Daily Chart

Speaking successful a Twitter Spaces speech hosted by Mario Nawfal, Musk added, “I deliberation so, don’t stake the workplace connected DOGE, but I’m moving hard connected the DOGE.”

As tin beryllium seen from the chart, today’s spike has helped propulsion the comparative spot scale (RSI) of 14 days supra a cardinal ceiling of 49.30.

Currently, the scale is tracking astatine 50.87, with the adjacent disposable constituent of absorption astatine the 53.00 mark.

Solana (SOL)

Solana (SOL) connected the different manus was trading importantly lower, arsenic prices of the token dropped for a 2nd consecutive session.

After climbing to a precocious of $18.68 earlier successful Friday’s session, SOL/USD sank to a bottommost of $14.92 to commencement the weekend.

Overall, solana is present trading by astir 60% little successful the past 7 days, with immoderate expecting further upcoming declines.

SOL/USD – Daily Chart

Looking astatine the chart, the downward inclination caused by a crossover betwixt the 10-day (red), and 25-day (blue) moving averages has extended.

In summation to this, the RSI is tracking astatine a level of 34.67, with a level of 33.55 a apt people for bears.

However, should momentum instrumentality terms spot beneath this point, galore volition apt expect SOL to autumn towards a weaker level of 23.30 connected the index.

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Can solana past the downfall of FTX? Let america cognize your thoughts successful the comments.

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