Dogecoin support above 0.30000

Elon Musk’s claims about the superiority of Dogecoin provoked a great discussion with the co-founder of Ethereum. Ethereum co-founder Vitalik Buterin published an article about blockchain limitations, criticizing the claims of Tesla’s CEO Elon Musk.
Vitalik published an article on his personal blog on May 23, emphasizing the compromise between decentralization and scalability in the design of block networks. The article responds to Elon Musk’s tweet from May 15, which claims that Dogecoin will appear as the leading chain if it moves to increase the size of the block by 900%. Vitalik Buterin challenges Musk’s proposal, emphasizing the challenge of striving to achieve a sharp increase in scalability and bandwidth without leading to extreme centralization and compromising the basic properties that make a blockchain what it is.
After a market crash, Elon Musk expressed lukewarm support for cryptocurrencies on Twitter this morning. The CEO of Tesla, whose details about accepting Bitcoin payments for new vehicles last week were widely blamed as a catalyst for the collapse of the crypto market, primarily the price of Bitcoin. In response, Musk said the crypto’s primary challenge is not the short-term price but the ongoing battle against fiat money. Musk, shown that he can influence Dogecoin markets with his Tweets, although larger currencies have proven to be more resilient through a market cap.

In the one-hour time frame, we can do the following technical analysis. The first thing we can notice is that consolidations are very important, and after that, certain impulses follow them. Yesterday, Dogecoin revisited the zone at 0.25000 but quickly returned above 0.30000. It has received the support of moving averages MA20 and EMA20, and MA50 is a big obstacle for us to continue the bullish trend. If there is a break above and positive consolidation, we will look towards MA200 and EMA200 in the zone around 0.40000. The MACD indicator gives us a bullish signal and, for now, provides support to Dogecoin for the bullish continuation.