Elon Musk himself said via Twitter in February 2021 that the biggest issue with Dogecoin is its concentration among a few whales. The billionaire wrote at the time:
Is Elon Musk The Largest Holder Of Dogecoin (DOGE) With 28.52% Of Supply?
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After experiencing a remarkable rally last week, the Dogecoin price turned downward from $0.15 resistance. As a result, the coin price triggered a temporary downfall and offered a pullback opportunity for buyers looking for reentry. Furthermore, despite a bullish outlook in the market today, altcoin surged by an insignificant percentage of 0.18. Thus, the prices
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After acquiring Twitter for $44 billion, Elon Musk is working to make the company profitable by downsizing its workforce. A company-wide email was sent yesterday to start the layoff process on Friday, with firing half its workforce, that’s 3,700 employees. As a result, Twitter is down for most users, Dogecoin price dropped over 7% in
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According to Blockchain analytics platform Santiment, Dogecoin potentially has more room for growth. This is based on two important indicators namely: search trends and social dominance. Bitcoin has struggled to break into $23,000 resistance levels and other key price points since dropping down to hover within the $17,000 and $23,000 price ranges. With other altcoins […]
Der Beitrag This altcoin will explode 10x for massive gains in short time – Analysts take erschien zuerst auf Crypto News Flash.
Shiba Inu is slowly shedding its gains following the short-lived rally of the crypto market last October 25 as well as its Elon Musk/Dogecoin-inspired price increases. According to data from Coingecko, at the time of this writing, the DOGE spin-off crypto is changing hands at $0.00001217 and has been down by 2.3% over the last 24 hours. It is still enjoying a 12.7% increase for the past seven days and a 23.4% surge over the last two weeks but those numbers used to be higher during the last few days. On October 30, Shiba Inu peaked at $0.00001421 as it increased its market capitalization by almost $2 billion. Currently, the asset is sitting at an overall valuation of $7.177 billion – enough for it to rank 15th among all cryptocurrencies tracked by Coingecko. Related Reading: Rug Pull: 97% Of Crypto Projects On Uniswap Were Scams, Study Reveals Investors Losing Hope for an Immediate Shiba Inu Surge Investors, particularly the members of the CoinMarketCap crypto community, are leaning towards a bearish prediction for the meme dog-themed altcoin this November. According to the findings of Price Estimate tool that aggregated the result of a poll that included 5,133 voters, Shiba Inu is likely to end the month with a trading price of $0.00001093 which is almost 10% lower from the $0.00001209 SHIB price at the time when the voting was conducted. Meanwhile, as for the DeFi asset price towards the end of the year, the decline was slightly lower at 8.46% as it is expected to change hands at $0.00001107. On January 1 this year, SHIB price was at $0.000033. The altcoin, however, failed to sustain its momentum as it was caught in a bearish momentum that slashed more than 63% of its 2022 opening spot price. It only managed to break out of that slump towards the end of October when the crypto market rallied to reclaim the $1 trillion market cap territory and shortly after Elon Musk completed his $44 billion purchase of Twitter. Affected By Dogecoin Movement Over the last few months, Shiba Inu has shown its tendency to follow the directional trend of Dogecoin, which the same crypto community has also given bearish predictions. The dog-themed crypto has recently entered a price correction phase, losing 4.6% of its value over the last 24 hours. Its weekly gain – which stood at over 100% for the past few days – dropped to 80.8% following this recent price dump. As the two digital assets share the same trend almost all the time, Shiba Inu investors are also keeping close watch to Dogecoin to predict when it will move up or go down. Related Reading: Tron Performance Last Month Was Impressive, But Can TRX Do Better This November? SHIB total market cap at $6.6 billion on the daily chart | Featured image from Unsplash, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal understanding of the crypto market and should not be construed as investment advice.
The Chief Twit or new CEO of the social media platform Twitter, Elon Musk, made another controversial decision. Yesterday, the billionaire and entrepreneur fired the company’s board, appointing himself as the sole director and decision maker. Related Reading: Dogecoin: Elon Musk Skyrockets The DOGE Price Again, Here’s What’s Happening The Dogecoin supporter went against the […]
Dogecoin witnessed a significant growth trend in 2021. This remarkable feat connects to the influence of Tesla’s CEO and billionaire, Elon Musk. The billionaire has remained a prominent proponent for Dogecoin, and his position could either increase or decrease its price movement. Most crypto assets took to the south during the recent bearish trend in the crypto market. This brought considerable losses in value for most of them. In addition, Dogecoin, the largest and leading meme cryptocurrency, also recorded a downward movement. Related Reading: Dogecoin (DOGE) Price Manipulated By Whales? A Look Off And On-Chain But the recent positive progress in the crypto market is pushing the assets north. For Dogecoin, the asset has finally broken its strong resistance at $0.135 as the price jumped by more than 110%. The new price surge from DOGE is linked to Elon Musk Twitter deal of almost $44 billion. Dogecoin Records Largest Liquidated Positions In Short Calls Data on the overall crypto liquidations in the market sat at $261 million over the past 24 hours. The record indicated that about 110.99k traders are affected in their force liquidation saga. Following Dogecoin’s recent price jump, the token got the most considerable value of liquated coin positions. Details showed that over $61 million were liquidated from Dogecoin over the past 24 hours. But more than 54% of the value, representing about $33.11 million, of the liquidations were in short positions. This implies that most traders were anticipating more declines in the value of DOGE. Binance and Okex crypto exchanges reported Dogecoin short calls of about $7 million in liquidation, respectively. According to Whale Alert, over $18 million worth of DOGE has been multiple transfers from whale wallets to several crypto exchanges over the past 24 hours. The tracker’s noted highest transaction record involved a transfer of about 100 million DOGE to Binance. Soaring Trading Volume For Dogecoin The price of DOGE surged by more than 25% over the past day. This new price jump is connected to recent Musk’s deal with Twitter. Also, Twitter announced its advancement into the NFT market. Related Reading: Dogecoin (DOGE) Cracks Over 150% In 7 Days; Is The Top In Yet? The 24-hour trading volume of DOGE has jumped strongly by 207% to $14.5 billion. This new uptrend has pushed Dogecoin to overtake Cardano (ADA) in cryptocurrency ranking. The leading meme coin is now among the top 10 crypto assets, with a market cap of about $17 billion. At the time of writing, the price of DOGE is hovering at $0.1403. Other meme coins have received great strength from DOGE’s price recovery to initiate their rally. From widespread expectations, Shiba Inu could toll the trend after Dogecoin in the coming weeks. Over the past seven days, SHIB increased by 27%. featured Image From Pixabay, Charts From Tradingview
Dogecoin (DOGE) has seen a price increase of 40% during the bear market, making it one of the best-performing major altcoins this year. Meanwhile, Bitcoin (BTC) dropped by 30% during the same time.
The post Dogecoin Price Trounces Bitcoin in Bear Market: DOGE Up 40% While BTC Down 30% appeared first on BeInCrypto.
The Dogecoin (DOGE) price has had an incredible weekend. Following Elon Musk’s confirmed Twitter acquisition, the DOGE price jumped 95% over the last seven days. The memecoin exploded to over $0.14 at times and is currently sitting at about $0.11. Musk’s gigantic influence on the DOGE price is an old acquaintance for the crypto market. Over the past few years, the Tesla and SpaceX CEO kept moving the price with his statements. But since the Twitter acquisition, he has gone quiet. Musk has not mentioned Dogecoin since the deal was closed. Related Reading: Dogecoin Continues To Thrive With Over 93% Gains In A Week However DOGE fans remember April when Musk floated the idea of letting Twitter users pay with Dogecoin for his premium subscription service, Twitter Blue. Currently, rumors are circulating that Musk plans to have all users pay $20 for a blue check mark. Some Tesla products can already be purchased on the automaker’s website using Dogecoin. The Boring Company accepts the cryptocurrency as payment for using the Las Vegas Loop. Because of the massive influence on the market, not everyone believes that Musk has good intentions. In June, a $258 billion lawsuit was filed against Musk, SpaceX and Tesla for manipulating the DOGE price. In September, the lawsuit was expanded to include seven new investors and six new defendants, including his tunneling company, Boring Co. Related Reading: Why The DOGE Price Rally Could Foretell An Altcoin Season According to the lawsuit, Musk and the other defendants intentionally drove up the price of Dogecoin by more than 36,000% over two years and then caused it to crash. In doing so, the defendants “made tens of billions of dollars at the expense of other investors,” according to the complaint. Are Dogecoin Whales Manipulating The Price? But it’s not just Elon Musk, other whales seem to be setting the tone for the Dogecoin price as well. As new on-chain data shows, there were three whale alerts yesterday. The largest whale transferred 450 million DOGE, while the seventh largest whale received 10 million DOGE. In total, 402 million flowed out of Binance. Three Whale Alerts for $DOGE!👇 The top 1 holder transferred 450M $DOGE($54M) out. The top 7 holder received 10M $DOGE($12M) again. A total of 402.16M $DOGE($49M) flowed in to #Binance.#dogecoin #DOGEUSDT #DogecoinRise #DogecoinWhaleAlert https://t.co/8uTanG78bG pic.twitter.com/7Sx7eeDlFg — Lookonchain (@lookonchain) October 30, 2022 The price of DOGE surpassed $0.10 for the first time since May 2022 on Saturday, with a 24-hour gain of nearly 30%. An anonymous on-chain analyst posted the table below, which shows the latest 30-day holdings change of the top 10 holders of DOGE. According to the analysis, it can be seen that two addresses are highly correlated with the price of DOGE. One of them is the largest whale, the exchange Robinhood, which transferred a total of 1.05B DOGE ($107.4M) on October 05, October 28 and October 29. Not elaborating what this means, it can be assumed that Robinhood is gathering a lot of retail interest for DOGE. Further, the analyst notes that coincidentally, the address “DPDLBA” transferred 1.35B DOGE in early August. After the transfer, the price of DOGE exceeded $0.85 and reached its highest level after May. The top-7 holder of DOGE is the other address impacting the market. From October 6th, the address received 5M or 10M DOGE every day. He also received 10M DOGE on Saturday and “it doesn’t seem to stop”. “The last time address ‘DMuFDC’ received DOGE started on July 26 and stopped on August 5, after which the price of $DOGE started to rise. Now that he is still receiving $DOGE, does it mean that the price of $DOGE will continue to rise?”, the analyst concluded.
Elon Musk plans to charge $20 per month for the Blue verification mark on Twitter after he took over the social media firm on Thursday. However, a new poll indicates almost 80% are unwilling to pay for the Blue verification mark on Twitter. Elon Musk also voted and finds the results “interesting.” Elon Musk Comments
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Data shows Dogecoin has now become the 8th largest crypto by market cap, after displacing Cardano from the spot. Dogecoin Market Cap Hits More Than $15 Million After The Price Surge The past week has been incredible for DOGE after what had been many months of lackluster sideways performance. At the time of writing, the […]
Data shows a Dogecoin whale has transferred more than $9 million worth of DOGE to Binance, as the price of the crypto has been shooting up. Dogecoin Whale Deposited $9.4 Million In DOGE To Binance During The Last 24 Hours According to cryptocurrency transaction tracker Whale Alert, a huge DOGE transaction has been spotted during […]
Dogecoin price has continued to consolidate. However, the coin showed signs of recovery on its one-day chart. Over the last 24 hours, the coin hasn’t made much progress. In the past week, Dogecoin price just moved up by 0.4%, which indicates that the coin is still in a consolidated price range. The technical outlook for Dogecoin indicated that buyers were not in control of the market at press time. This meant that Dogecoin price was still experiencing bearish pressure. For Dogecoin to be able to regain the bulls back, it is important that the meme-coin breaks past its immediate price ceiling. Demand for Dogecoin continued to remain low, which is why the bears could at any point invalidate the brief recovery that the coin made. If DOGE continues to consolidate over the next trading sessions, the coin could fall to its local support level. For a rally to happen, the coin has to topple over the $0.07 price ceiling. Only then can the coin attempt to touch the $0.09 price mark. Dogecoin Price Analysis: One-Day Chart DOGE was trading for $0.05 at the time of writing. The coin is still trading laterally. Although it tried to climb on its chart, the buyers did not cooperate. Overhead resistance for the coin stood at $0.06. A break above that can help Dogecoin touch the $0.07 price mark. A move above the $0.07 mark would help the coin rally to $0.09. On the other hand, support for the coin stood at $0.47. If buyers don’t return to the market, Dogecoin could also fall from its local support to the $0.03 price zone. In the last trading session, the amount of DOGE traded fell, which meant that the coin was under selling pressure. Technical Analysis The crypto was making a recovery in terms of buying strength too. A slight demand would bring the buyers back. This was, however, not the case, as at press time, DOGE logged a fall in buying pressure. The Relative Strength Index was below the zero-line, and that meant fewer buyers compared to sellers. The Dogecoin price was also below the 20-SMA line. This corresponded with low demand for the meme-coin and it also meant that sellers were driving the price momentum in the market. Related Reading: Cardano Finds Breathing Room At $0.35 Support – Is This Enough For ADA? Other technical indicators also showed that the bears were in control of the asset. The one-day chart also showed a sell signal for the asset. The Moving Average Convergence Divergence indicates the price momentum and direction of the crypto. MACD underwent a bearish crossover and also formed red histograms. The onset of these red histograms were sell signal for Dogecoin. The Directional Movement Index determines the overall price direction and strength of the same. DMI was negative as the -DI was above the +DI line. The Average Directional Index (red) fell below 20, which signalled that the current price direction is losing strength. Related Reading: Bitcoin Price Formed A Bearish Wedge Pattern, These Are The Crucial Trading Levels Featured image from UnSplash, Chart: TradingView.com
Dogecoin developers are preparing for core updates 1.14.7 and 1.21 scheduled for release in the coming months. The news of Elon Musk acquiring Twitter recently sparked a short rally in DOGE. Despite the crypto winter of 2022, memecoin Dogecoin (DOGE) continues with developments and holds a position among the top ten cryptocurrencies by market cap. […]
Der Beitrag Dogecoin: This crucial core update will drive prices to the moon – Here are the details erschien zuerst auf Crypto News Flash.