Dogecoin price is currently pressing a downward trendline that has restricted all upward attempts since late last year. The move coincides with accelerating speculation over SpaceX’s initial public offering (IPO), which has become the main driver of DOGE’s price at present.
Earlier this week, Dogecoin’s on-chain activity saw a 28% surge, directly tied to momentum from SpaceX’s IPO. Open Interest also jumped from 2.4 billion to 3.7 billion DOGE, and it is worth noting that the recent upward push was supported by the opening of new long positions.
Reports that SpaceX has submitted an IPO application with a valuation of up to $75 billion have given meme money a big boost, making the price movement seem like Elon Musk’s usual moves.
BREAKING: Elon Musk has just officially confirmed that SpaceX will IPO in 2026 🚀
In short, SpaceX will use the money raised in an IPO to move even faster: “It will take a lot of money to design and build the satellites and launch the rockets to deploy the data centers in space. » pic.twitter.com/jn0RmlbZsg
-Sawyer Merritt (@SawyerMerritt) December 11, 2025
Will Dogecoin price manage to cross the $0.13 level this month?
Dogecoin is currently going through a bullish period, rising 10% to $0.11 in the last 24 hours. On the four-hour chart, rising lows have been forming continuously over the past few weeks, culminating in the appearance of a large green candle today.
The technical situation seems clearer than it appears at first glance; Despite the rise in the Relative Strength Index (RSI) and warnings that it is reaching the overbought stage on the daily chart, trading volume saw a notable increase compared to previous periods of volatility. The 100-period moving average is also located below the current price, acting as a dynamic support layer in the event of a pullback.
If Dogecoin manages to close above $0.115 today, it would open the door to a target of $0.13, with the potential for bigger gains if the momentum from the SpaceX IPO continues and this coincides with the liquidation of short positions (Short Squeeze). However, a decline below the $0.1 level could negate this technical setup and return to zero.
For those following the impact of Elon Musk news on cryptocurrency prices, DOGE’s current sensitivity to SpaceX developments makes any news headlines about upcoming IPOs a crucial catalyst for price direction.
Maxi Doge Project Gains Attention With Dogecoin Rally
A Dogecoin price above $0.10 is interesting, but given the logical math, going from $0.10 to $1.00 would require a 10x price increase for a coin that already has a multi-billion dollar market cap. It’s not impossible, but it represents a different risk and reward profile than getting in early on smaller projects.
The pattern of liquidity shifting toward meme coin presales has repeated itself during this cycle, with recent data showing traders actively moving toward meme projects in their early stages when major currencies like Dogecoin approach strong resistance levels.
ONLY 1 TOP DOG THIS CYCLE. pic.twitter.com/IUDUZlpUH0
– MaxiDoge (@MaxiDoge_) April 21, 2026
Maxi Doge ($MAXI) stands out as one of the pre-sale projects attracting this attention. The idea of the project is based on an excessively humorous character, as it revolves around the character of a huge 240-pound dog, inspired by the culture of trading with leverage up to 1000 times and the energy of gym-goers.
The project has so far raised $4.7 million, with a pre-sale price of just $0.0002815, in addition to a staking reward of up to 60% per year for investors. Project features include exclusive trading competitions for currency holders with rewards for rankings, in addition to the dedicated “Maxi Fund” treasury for liquidity and partnerships.
