July 20, 2021, is a day all Dogecoin fans need to be aware of. From today, global perfume maker Axe is giving away limited edition Axe Dogecan. The package comes in a neat presentation box, but most of all, lucky recipients get that “48 hour crypto scent” that we all need in our life.
The question on everyone’s mind is, what does it smell like? Let’s hope it isn’t like a damp dog. Well, you might be disappointed there. The Axe marketing team describes it as a “dank musk,” which doesn’t scream pleasant at first thought.
But none of that matters; what does is the buzz generated by the undisputed king of the meme coins.
Much wow, moon mission here we come
How do you get your sweaty hands on some Axe Dogecan, you ask, and how much does it cost? Lucky for you cheapskates, the cans are free, but they’re limited.
Register on the Axe site from today at 10 AM ET. Sadly for me, and others like me, it appears to be available to U.S residents only. If demand is anything like the April and May pump we saw this year, you know they’ll go quick.
Expect scalpers to list them on eBay as quickly as the CCP banned crypto mining. On that, it’ll be interesting to see what someone is willing to pay.
Despite the continual bleed of Dogecoin since Papa Elon bad-mouthed BTC, Axe is confident things can turn around for DOGE.
In the packages comes a statement that reads, “We’re going to the moon.” Rather aptly, the can itself shows a picture of the moon. It goes on to say:
“In this can, you’ll find the crypto-confidence you need to get there. This isn’t a scent to stop and celebrate how far the Doge Army has come. It’s the scent to rocket all the way there. So strap in.”
Dogecoin on the ropes
It seems like an eternity since a $1 Dogecoin seemed on the cards. Joking aside, from a technical perspective DOGE looks to be on the ropes.
Dogecoin is currently trading at $0.1643, which is 78% down from the local top established on May 8.
Since early June, the price has been trading below the 50-day moving day. Strong support can be found at the $0.1564 level, but it looks as though a retest of that level will happen soon. The next significant support level exists at around $0.05.
The RSI paints an equally grim picture. Dogecoin’s momentum is stuck near the oversold zone, with a current reading of 30%. While this generally indicates a reversal could be on the way, wider crypto uncertainty is stifling bulls.
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