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The price of Dogecoin is currently holding on to a downward trend that has stopped all attempts to rise since the end of last year. The move coincides with increased speculation about SpaceX’s initial public offering (IPO), which has been a major driver of DOGE’s price so far.
Earlier this week, Dogecoin’s on-chain activity saw a 28% surge, directly linked to the rise of SpaceX’s IPO. Open Interest also jumped from 2.4 billion to 3.7 billion DOGE, and it is interesting that the latest push to increase was supported by the opening of new buying positions.
Reports that SpaceX has submitted an IPO request with a price of $ 75 billion have increased the power of meme money, which makes the price compatible with the administration of Elon Musk.
UPDATE: Elon Musk has just confirmed that SpaceX will IPO in 2026 🚀
In short, SpaceX will use the money it gets in the IPO to go faster: “It will take a lot of money to design and build satellites and launch rockets to send data centers into space.” https://t.co/bYRd3ocWGk pic.twitter.com/jn0RmlbZsg
— Sawyer Merritt (@SawyerMerritt) December 11, 2025
Will the price of Dogecoin succeed in breaking the $0.13 level this month?
Dogecoin is currently going through a bull run, rising 10% to $0.11 in the last 24 hours. On the four-hour chart, the highs have been continuously made over the past few weeks, culminating in the appearance of a large green candle today.
The current situation looks better than it seems at first; Despite the rise in the Relative Strength Index (RSI) and warnings of overbought levels on the daily chart, the trading volume showed a noticeable increase compared to previous periods of volatility. The 100-time moving average is also below the current price, acting as a support unit for any pullback.
If Dogecoin can close above $ 0.115 today, this will open the door to direct $ 0.13, with the opportunity to get a big profit if the power of the SpaceX IPO continues and this is related to the removal of short positions (Short Squeeze). However, a drop below the $0.1 level can stop the technical trend and return to zero.
For those following the impact of Elon Musk’s news on cryptocurrency prices, DOGE’s recent interest in SpaceX’s growth makes the headlines of the upcoming IPO a major catalyst for prices.
Maxi Doge’s project draws attention to the Dogecoin Rally
The price of Dogecoin above $ 0.10 is interesting, but to make a logical calculation, going from $ 0.10 to $ 1.00 would require a 10-fold increase in the price of a coin that already has a market of billions of dollars. This is unlikely, but represents a risk-reward profile compared to early entry for smaller projects.
The reversal trend of buying meme coins before they were bought was repeated this time around, with the latest data showing traders moving quickly to meme projects as major coins like Dogecoin approach strong resistance levels.
ONLY 1 ONLY DOG USING THIS. pic.twitter.com/IUDUZlpUH0
— MaxiDoge (@MaxiDoge_) April 21, 2026
Maxi Doge ($MAXI) is well known as one of the pre-sold projects that attract this attention. The concept of the project was based on a funny joke, because it revolves around a large dog weighing 240 pounds, inspired by the culture of fast trading up to 1000 times and the strength of athletes.
The project has raised $ 4.7 million to date, with a pre-sale price of only $ 0.0002815, in addition to a reward of up to 60% per year for investors. The project’s activities include a commercial competition exclusively for investors with awards for leading groups, in addition to the “Maxi Fund” Treasury dedicated to liquidity and cooperation.