Dogecoin (DOGE) Price Rebounds Amid Whale Accumulation and Onchain Recovery

DOGE, the largest meme cryptocurrency by market cap, shows a slight upswing to $0.102 on Saturday, defying the current market uncertainty.

**1. What is driving the recent upswing in Dogecoin's price?**

The recent upswing in Dogecoin's price can be attributed to several factors, including the meme cryptocurrency's resilience amidst the downturn in the crypto market and the bullish momentum building up at a key support level. Additionally, the conclusion of the class-action lawsuit against Elon Musk, which included allegations of manipulating Dogecoin prices, may also be contributing to the buying activity.

**2. How close is Dogecoin to a major breakout from its current trend?**

Dogecoin is currently trading within a long-coming wedge pattern, which is converging towards a pivotal breakout or breakdown point. If the buying pressure persists and pushes the coin price above the resistance trendline, it could signal a 6% rise to the next resistance level. A breakout from this level will propel Dogecoin towards the $0.143 and $0.174 price zones.

**3. What impact could Elon Musk's legal victory have on Dogecoin's use?**

The conclusion of the class-action lawsuit, which cleared Elon Musk of any wrongdoing in manipulating Dogecoin prices, could pave the way for the meme cryptocurrency to be used again for Tesla merchandise payments. Furthermore, Musk has previously expressed interest in integrating DOGE payments for Tesla vehicles, which may be explored following this legal victory.

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