Dogecoin retests $0.10 as Elon Musk renews social-media attention

  • Dogecoin is again testing the $0.10 resistance level amid renewed attention from Elon Musk.
  • Dogecoin traded at $0.098 after reaching $0.10 early Saturday.
  • Dogecoin’s 365-day MVRV was negative 19.26% despite the recent price rally.

Dogecoin is testing the $0.10 level again amid renewed attention from Tesla and SpaceX CEO Elon Musk, who reacted with "lol" to an archived screenshot of his profile from the NFT boom and later made a post containing the DOGE tag. Some members of the crypto community interpreted the tag as another indication of Musk's continuing interest in the dog-themed cryptocurrency. Dogecoin was trading at $0.098 after reaching $0.10 early Saturday, following repeated attempts to clear the level. The token reached $0.102 on September 21, then $0.106 and $0.104 on September 22 and 23, respectively, before retreating. Its advances on Friday and Saturday also stopped at $0.10. The repeated failures have established $0.10 as a short-term barrier, making a decisive break important for the next major move. A breakout could put $0.11 and $0.14 in focus, followed by $0.18 and $0.20. Traders are also watching whether Dogecoin can turn the daily 200-day moving average into support after that level capped the price since October 2025. Failure to do so would leave the daily 50-day moving average at $0.083 as the next support. Dogecoin's 365-day MVRV stood at negative 19.26%, indicating that the average trader active during the past year remained at a loss despite the price rally. The data suggests recovery room and limited downside risk if demand remains strong.

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