Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. The suit claims that Musk operated a pyramid scheme, following his endorsements of dogecoin. Litecoin was another token to climb on Saturday.
Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday
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Dogecoin (DOGE)
Dogecoin (DOGE) climbed higher on Saturday after lawyers for Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped.
In a statement, Musk’s lawyers said, “There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion.”
Following a low of $0.07456 on Friday, DOGE/USD rose to a peak of $0.07841 to start the weekend.
As a result of the move, the meme coin marginally breakout of a long-term ceiling of $0.0780.
This came as the relative strength index ( RSI) also briefly moved beyond a resistance of its own at 52.00
At the time of writing this, the index is now tracking at 51.99, with earlier gains in DOGE mostly easing.
Litecoin ( LTC)
Litecoin ( LTC) was another notable gainer to start the weekend, as the token also neared a one-week high.
LTC/USD surged to an intraday high of $93.85, less than 24 hours after prices were trading at a low of $88.34.
This rally sent litecoin to its strongest point since last Sunday, March 26, when it rose to a peak at $94.92.
Looking at the chart, today’s gain pushed LTC close to a point of resistance at $94.00, however, bulls have so far been unable to force a breakout.
This is likely due to the 14-day RSI hovering close to a ceiling of its own, at the 57.00 mark.
Should bulls move beyond this point, then there is a good chance that LTC will move beyond $94.00.
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Do you expect litecoin to extend this rally further into the weekend? Let us know your thoughts in the comments.
