Doge and SHIB Surge: Elon Musk Tweets Dog CEO Pictures

• Dogecoin (DOGE) and Shiba Inu (SHIB) surged after Elon Musk tweeted a picture of a Shiba Inu dog.
• The global cryptocurrency market cap rose 2.42% as a result of this tweet.
• Both dogecoin and shiba inu saw their prices climb for the second consecutive day, breaking out of various resistance levels.

Elon Musk Tweets Dog CEO Pictures

On Feb. 15th, Tesla CEO Elon Musk tweeted a picture of a Shiba Inu dog, with the caption: “The new CEO of Twitter is amazing.” Following this tweet, both dogecoin and shiba inu surged, extending recent gains. Overall, the global cryptocurrency market cap is 2.42% higher as of writing.

Dogecoin Rallies

Dogecoin (DOGE) rose by as much as 6% on Wednesday, as markets reacted to tweets from Tesla CEO Elon Musk. DOGE/USD surged to an intraday high of $0.08707 earlier in today’s session, which comes a day after trading at a bottom of $0.08141. Today’s move saw the meme coin climb for a second straight session, breaking out of a resistance level at $0.0840 in the process .Upside momentum comes as the 14-day relative strength index (RSI) surged, and as of writing it is tracking at 50.81 Price strength has now risen to its highest point in nearly a week, and is fast approaching a ceiling at 52.00. As a result of this, earlier gains have somewhat eased, with dogecoin now trading at $0