Dogecoin traded near $0.070 as SPCX stock extended its rebound ahead of SpaceX's first earnings report as a public company. DOGE remains stuck below key resistance while traders watch whether renewed attention on Musk-linked assets can spill over into a stronger crypto move.
Dogecoin (DOGE) traded at $0.07035 at the time of writing, near the lower end of its three-month range. The meme coin has stabilized after falling from a May peak above $0.117, but the daily chart has yet to confirm a sustained bullish reversal.
DOGE holds below Bollinger midpoint
DOGE trades below the Bollinger Bands' 20-day midpoint at $0.07122, the first barrier buyers must reclaim before challenging the upper band at $0.07398. The daily Relative Strength Index stood at 43.09, slightly above its moving average of 40.42 but still below the neutral 50 mark, leaving sellers with a modest advantage.
Dogecoin's price action is unfolding alongside a broader crypto market recovery. Bitcoin traded around $63,400, while Ethereum hovered near $1,840. However, DOGE's gains remained limited as traders waited for a stronger catalyst.
SpaceX earnings put Musk-linked assets in focus
SpaceX is scheduled to release its second-quarter results after the U.S. market closes on Tuesday, with management holding an audio webcast at 4:30 p.m. ET. The report will be the company's first since its June initial public offering, and investors are expected to focus on Starlink subscriber growth, Starship spending and the financial impact of its artificial intelligence operations.
Analysts expect SpaceX to report about $6.8 billion in quarterly revenue and a loss of roughly $0.23 per share, though market estimates vary, with some forecasts pointing to a quarterly net loss between $1.55 billion and $1.9 billion. Options pricing implied that SpaceX shares could move about 15% in either direction after the report, potentially changing the company's valuation by approximately $225 billion.
Dogecoin has no direct financial link to SpaceX earnings. However, both assets remain connected through market sentiment surrounding Elon Musk, which can attract speculative DOGE trading when Musk-owned companies dominate market attention, though it does not guarantee a corresponding price move.
Share unlock adds to the volatility risk
SpaceX's earnings will not be the only event affecting the stock. An IPO lockup is due to expire on Aug. 6, potentially allowing insiders and early investors to sell up to 911.5 million shares. That incoming supply could limit an earnings-driven rally or deepen a decline if SpaceX misses expectations, while strong Starlink growth, improved margins or clearer spending guidance could instead help the stock hold its recovery.
For Dogecoin, the technical picture remains neutral-to-bearish while the price stays below $0.07273. SpaceX earnings may lift trading interest around Musk-linked assets, but DOGE still needs a confirmed breakout above $0.07398 to turn that attention into a stronger price recovery.
Source: crypto.news
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