Dogecoin price prediction remains bullish, especially above the 38.2% Fibonacci retracement level of $0.1200. Despite billionaire Elon Musk's strong support, Dogecoin failed to extend its previous four-day bullish rally and lost some ground.

Elon Musk, a billionaire, has long been a fan of the cryptocurrency Dogecoin, and the price of Dogecoin increased by more than 145% this week as a result of his official takeover of Twitter last week.