Dogecoin is rising overnight into Thursday, and now analysts are stepping out because they want Elon Musk—a known DOGE bull—to put his money where his mouth is if “he believes in memes.” Dogecoin has risen nearly 10% in the last 7 days, gaining nearly 13% in the past 24 hours. Since the beginning of 2022, DOGE has dropped nearly half a percent, but it is finally gaining steam as the global market cap increases. The meme token rose back into the Top 10 Mentions on Twitter ($TWTR@US), and it appears that inflation fears are pushing investors into cryptocurrency. With inflation at a record 7%, its highest level since 1982, any drop in the dollar is going to be positive for the crypto market/ Crypto analyst Kaelo took to Twitter to explain the situation, noting that the next points of resistance will probably be HTF log diagonal, around 24 cents. At press time, Dogecoin sat at 17.05 cents, up nearly 8% on increasing volume and an increase in its market cap.
