Dogecoin climbed nearly 3% over the past 24 hours, reaching $0.097 as investor excitement grew around reports that Elon Musk’s SpaceX is preparing to file for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The meme cryptocurrency held steady just below the key $0.10 level, maintaining support near $0.096.
The broader cryptocurrency market also showed strength, rising about 1% to a total valuation of $2.46 trillion. Bitcoin advanced to approximately $71,705, signaling renewed confidence among investors. Analysts attribute this improved sentiment to easing geopolitical tensions, including a temporary pause in potential U.S. actions targeting Iranian energy infrastructure.
While SpaceX has not officially confirmed the IPO timeline, sources indicate that preparations are progressing quickly. The public offering could take place as early as June 2026, with leading financial institutions like Morgan Stanley, Bank of America, Goldman Sachs, and JPMorgan Chase expected to manage the deal.
$1.75T Valuation Fuels Investor Optimism
Estimates suggest SpaceX may target a valuation between $1.5 trillion and $1.75 trillion, making it one of the most significant IPOs in history. The company could raise more than $75 billion, with individual investors potentially receiving over 20% of the share allocation.
In parallel developments, SpaceX has acquired Musk’s artificial intelligence venture, xAI, bringing the combined private valuation close to $1.25 trillion. Additionally, Musk confirmed that X Money will begin early public access in April, signaling broader expansion across his business ecosystem.
This surge in high-profile corporate activity has spilled over into crypto markets, boosting speculative assets like Dogecoin. Investors often respond to Musk-related developments, given his long-standing influence on the coin.
Dogecoin Targets Break Above $0.10
Technical indicators suggest Dogecoin could be preparing for a breakout. Analysts highlight a descending triangle pattern on the four-hour chart, often seen as a setup for a strong price move. Some projections point to a potential 29% upside if resistance levels are cleared.
The price is currently testing the $0.10 barrier, a level it has struggled to break multiple times. A sustained move above this mark could trigger further gains toward $0.11 and possibly $0.12.
Key technical signals include:
- Relative Strength Index (RSI) at 64, indicating bullish momentum without overbought pressure
- Chaikin Money Flow (CMF) around 0.10, showing steady capital inflows
- Immediate support at $0.095, with downside risk toward $0.09 if broken
For now, Dogecoin’s direction depends heavily on broader market sentiment and whether buyers can maintain pressure. A clear breakout above $0.10 may act as the catalyst for the next rally phase.