Elon Musk's recent post referencing Dogecoin (DOGE) has not sparked notable market interest. Social activity around DOGE has noticeably declined, and the market reaction has been subdued.
In the past 24 hours, DOGE’s trading volume increased by only 3%. This reflects the waning interest in the meme coin.
Despite Musk's cryptic messaging, DOGE’s social dominance remains down, indicating less frequent discussions about the asset.
The daily active address divergence metric for DOGE has fallen to a 30-day low of -62.46, supporting this trend of reduced interest.
DOGE saw a modest 3% price surge recently, suggesting a weak and unsustainable rally.
Technically, DOGE is retesting its 20-day exponential moving average at $0.10. The RSI balances at 50.61, indicating a potential continuation of its uptrend if buying pressure increases.
If selling pressure intensifies, DOGE could revisit its August low of $0.08.
