Dogecoin (DOGE) is once again at the frontlines of massive market gains. The meme coins seem to be riding the wave of ceaseless promotion from Tesla CEO Elon Musk.
Dogecoin appears to have sustained its bullish momentum over the week. After showing some signs of consolidation, market participants have now continued to build on that euphoria.
Another DOGE Tweet, Another Spike
On Feb 4, the meme coin made another 50% upswing shortly after the latest Musk tweet. Traders interpreted this as a buy signal, which cascaded into further buying.