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🔥🔥🔥 #Dogecoin Price to Hit 160-Day Barrier After #ElonMusk’s Tweet: Bull Trap or Rally?
Dogecoin Price Shows Modest Increase Amid Weekend Calm
- Dogecoin ($DOGE ) has experienced a slight 0.12% rise to $0.098 over the quieter weekend period. This uptick comes after the price bounced off the $0.09 support level, influenced by a recent post from billionaire Elon Musk on X (formerly Twitter) featuring the acronym D.O.G.E. in reference to a proposed Department of Government Efficiency.
Elon Musk & Trump’s Influence on Dogecoin
- Former President Donald Trump announced plans to establish a government efficiency commission in collaboration with Tesla’s Elon Musk if re-elected. Musk has endorsed this idea on X, sharing an AI-generated image of himself with the D.O.G.E. acronym. This tweet resulted in a brief surge in DOGE price, reaching $0.098 on Friday.
- DOGE's recovery faces uncertainty as it nears a key resistance at $0.10. Analytics show 16 billion DOGE across 242,800 addresses may create selling pressure, potentially hindering a breakout as many holders may sell to break even.
Dogecoin Price Faces Key Resistance
- Over the past month, DOGE has traded between $0.115 & $0.091, indicating a consolidation phase. This period of sideways movement reflects a potential lack of decisive action from buyers or sellers. Chart analysis reveals a falling wedge pattern, suggesting a downtrend within converging trendlines before a potential breakout.
- Currently, DOGE is trading at $0.098 with a market cap of $13.9 billion. If bullish momentum continues, DOGE could rise by 5% before facing significant resistance at the overhead trendline. Should sellers maintain control, the price might retreat to the $0.08 support level.
- Additionally, DOGE is trading below the daily EMAs (20, 50, 100 & 200), indicating that resistance could be stronger. A successful breakout from the falling wedge pattern could drive the price to $0.11, with potential further gains to $0.144.
Source - coingape.com
#CryptoMarketTrend #BinanceSquareTalks #CryptoNewsCommunity
Dogecoin Price Shows Modest Increase Amid Weekend Calm
- Dogecoin ($DOGE ) has experienced a slight 0.12% rise to $0.098 over the quieter weekend period. This uptick comes after the price bounced off the $0.09 support level, influenced by a recent post from billionaire Elon Musk on X (formerly Twitter) featuring the acronym D.O.G.E. in reference to a proposed Department of Government Efficiency.
Elon Musk & Trump’s Influence on Dogecoin
- Former President Donald Trump announced plans to establish a government efficiency commission in collaboration with Tesla’s Elon Musk if re-elected. Musk has endorsed this idea on X, sharing an AI-generated image of himself with the D.O.G.E. acronym. This tweet resulted in a brief surge in DOGE price, reaching $0.098 on Friday.
- DOGE's recovery faces uncertainty as it nears a key resistance at $0.10. Analytics show 16 billion DOGE across 242,800 addresses may create selling pressure, potentially hindering a breakout as many holders may sell to break even.
Dogecoin Price Faces Key Resistance
- Over the past month, DOGE has traded between $0.115 & $0.091, indicating a consolidation phase. This period of sideways movement reflects a potential lack of decisive action from buyers or sellers. Chart analysis reveals a falling wedge pattern, suggesting a downtrend within converging trendlines before a potential breakout.
- Currently, DOGE is trading at $0.098 with a market cap of $13.9 billion. If bullish momentum continues, DOGE could rise by 5% before facing significant resistance at the overhead trendline. Should sellers maintain control, the price might retreat to the $0.08 support level.
- Additionally, DOGE is trading below the daily EMAs (20, 50, 100 & 200), indicating that resistance could be stronger. A successful breakout from the falling wedge pattern could drive the price to $0.11, with potential further gains to $0.144.
Source - coingape.com
#CryptoMarketTrend #BinanceSquareTalks #CryptoNewsCommunity
Crypto Market Bloodbath Explanation Provided by Jim Cramer
Jim Cramer shared his take on the current crashes in the crypto and stock markets, here’s what AI got to do with this
Contents
Jim Cramer clarifies current market sell-offBearish September unwrapping?
#CNBC Mad Money host, financial commentator Jim Cramer has taken to his account on the X platform to share why he believes the current sell-off in the markets is taking place. The stock market is plunging and sinking into the red, pulling the cryptocurrency one along with it.
Jim Cramer clarifies current market sell-off
While both stock and #CryptocurrencyMarkets are in the red, Cramer believes that the bloodbath is caused by sell-off of the following assets: everything to do with AI and computing, as well as housing, oil and “some companies leveraged to infrastructure.”
The leader of the cryptocurrency market #Bitcoin❗ shows a 4.60% plunge in the past 24 hours (with a 1% recovery eliminated today). S&P 500 index has fallen by 6.88 (0.12%) today.
Cramer’s tweet about AI-related sell-off took place in light of US Department of Justice beginning to subpoena microchip-producing behemoth Nvidia as part of the escalating anti-trust probe.
Nvidia’s position in the rapidly growing AI space has become dominant recently with many AI-developing companies, including #ElonMusk’s xAI purchasing H100 chips to train their AI models.
DoJ is subpoenaing not only Nvidia but also several other chip-producing companies since they are suspected of violating antitrust laws, according to Bloomberg. The US government is now getting close to issuing a formal complaint against Nvidia.
Bearish September unwrapping?
Historically, September has been a bearish month for the past ten years, while October and November have been largely bullish. Traders call October “Uptober” for this reason.
In line with this, as September has only just started, the current sell-off seems to be following the “traditional” bearish scenario. As for Octobers, Bitcoin rose by 40% and 50% at the highest in the last ten years.
However, Bitcoin maximalist Samson Mow doubts that this concept of bearish Septembers is accurate about $BTC
. In today’s tweet, he shared several key reasons why he expects the world’s flagship cryptocurrency to surge despite all the bearish September predictions and expectations.
Mow believes that “underfunded pension funds” are likely to allocate their hundreds of billions of dollars to Bitcoin. MicroStrategy, he expects, will certainly continue to issue convertible senior notes to offer more debt to investors in order to raise money to buy more Bitcoin.
#DOGSONBINANCE
Contents
Jim Cramer clarifies current market sell-offBearish September unwrapping?
#CNBC Mad Money host, financial commentator Jim Cramer has taken to his account on the X platform to share why he believes the current sell-off in the markets is taking place. The stock market is plunging and sinking into the red, pulling the cryptocurrency one along with it.
Jim Cramer clarifies current market sell-off
While both stock and #CryptocurrencyMarkets are in the red, Cramer believes that the bloodbath is caused by sell-off of the following assets: everything to do with AI and computing, as well as housing, oil and “some companies leveraged to infrastructure.”
The leader of the cryptocurrency market #Bitcoin❗ shows a 4.60% plunge in the past 24 hours (with a 1% recovery eliminated today). S&P 500 index has fallen by 6.88 (0.12%) today.
Cramer’s tweet about AI-related sell-off took place in light of US Department of Justice beginning to subpoena microchip-producing behemoth Nvidia as part of the escalating anti-trust probe.
Nvidia’s position in the rapidly growing AI space has become dominant recently with many AI-developing companies, including #ElonMusk’s xAI purchasing H100 chips to train their AI models.
DoJ is subpoenaing not only Nvidia but also several other chip-producing companies since they are suspected of violating antitrust laws, according to Bloomberg. The US government is now getting close to issuing a formal complaint against Nvidia.
Bearish September unwrapping?
Historically, September has been a bearish month for the past ten years, while October and November have been largely bullish. Traders call October “Uptober” for this reason.
In line with this, as September has only just started, the current sell-off seems to be following the “traditional” bearish scenario. As for Octobers, Bitcoin rose by 40% and 50% at the highest in the last ten years.
However, Bitcoin maximalist Samson Mow doubts that this concept of bearish Septembers is accurate about $BTC
. In today’s tweet, he shared several key reasons why he expects the world’s flagship cryptocurrency to surge despite all the bearish September predictions and expectations.
Mow believes that “underfunded pension funds” are likely to allocate their hundreds of billions of dollars to Bitcoin. MicroStrategy, he expects, will certainly continue to issue convertible senior notes to offer more debt to investors in order to raise money to buy more Bitcoin.
#DOGSONBINANCE
💥💥💥 #Dogecoin ’s Dominance Fades as Other #Memecoins🤑🤑 Surge
Dogecoin (DOGE) Faces Downturn Despite #ElonMusk’s Support
Dogecoin (DOGE), the leading meme coin, has experienced a significant downturn, declining 21% over the past 30 days. Despite backing from Elon Musk, concerns are growing about its future dominance in the meme coin market.
Currently, Dogecoin’s market capitalization stands at $14.58 billion, a sharp decline from its peak of $73 billion. At present, DOGE is trading at $0.9883, down 86.43% from its all-time high of $0.7376 reached in May 2021. Nevertheless, the coin has risen 17,825.21% from its initial debut price.
In the past 24 hours, DOGE has fluctuated between a low of $0.9883 and a high of $0.1043, ultimately settling lower. The cryptocurrency is down 2.30% for the day and 1.29% for the week but has risen 58% since August 2023. In contrast, Shiba Inu (SHIB), the 13th largest cryptocurrency by market cap, has gained 55.76% in the same period.
Other meme coins like Pepe ($PEPE ), dogwifhat ($WIF ), and Bonk ($BONK ) have recently outperformed DOGE and SHIB. PEPE has surged 569.58% over the past year, while WIF and BONK have experienced even greater gains of 713.92% and 6,418.80%, respectively, according to CoinMarketCap data.
Technical indicators suggest Dogecoin may continue on a sluggish trajectory unless renewed interest emerges. Despite Musk’s support, DOGE’s performance has been lackluster. The Accumulation/Distribution line shows decreased accumulation, with investors showing little bullish sentiment. Additionally, the Relative Strength Index (RSI) of 40.71 indicates bearish control over Dogecoin’s price action.
Source - coinedition.com
#CryptoTrends2024 #BinanceSquareTrends
Dogecoin (DOGE) Faces Downturn Despite #ElonMusk’s Support
Dogecoin (DOGE), the leading meme coin, has experienced a significant downturn, declining 21% over the past 30 days. Despite backing from Elon Musk, concerns are growing about its future dominance in the meme coin market.
Currently, Dogecoin’s market capitalization stands at $14.58 billion, a sharp decline from its peak of $73 billion. At present, DOGE is trading at $0.9883, down 86.43% from its all-time high of $0.7376 reached in May 2021. Nevertheless, the coin has risen 17,825.21% from its initial debut price.
In the past 24 hours, DOGE has fluctuated between a low of $0.9883 and a high of $0.1043, ultimately settling lower. The cryptocurrency is down 2.30% for the day and 1.29% for the week but has risen 58% since August 2023. In contrast, Shiba Inu (SHIB), the 13th largest cryptocurrency by market cap, has gained 55.76% in the same period.
Other meme coins like Pepe ($PEPE ), dogwifhat ($WIF ), and Bonk ($BONK ) have recently outperformed DOGE and SHIB. PEPE has surged 569.58% over the past year, while WIF and BONK have experienced even greater gains of 713.92% and 6,418.80%, respectively, according to CoinMarketCap data.
Technical indicators suggest Dogecoin may continue on a sluggish trajectory unless renewed interest emerges. Despite Musk’s support, DOGE’s performance has been lackluster. The Accumulation/Distribution line shows decreased accumulation, with investors showing little bullish sentiment. Additionally, the Relative Strength Index (RSI) of 40.71 indicates bearish control over Dogecoin’s price action.
Source - coinedition.com
#CryptoTrends2024 #BinanceSquareTrends
💥💥💥 #ElonMusk’s X Takes On CVS, Unilever in Major Antitrust Lawsuit
Elon Musk's Platform X Files Antitrust Lawsuit Against Major Brands
Overview:
- Elon Musk's social media platform, X, has filed an antitrust lawsuit against major brands, including CVS Health, Mars, Orsted, and Unilever. The lawsuit accuses these companies of unlawfully coordinating a boycott of X, severely damaging its advertising revenue. CEO Linda Yaccarino highlights the lawsuit as a response to the significant impact on X’s business.
GARM Closure:
- The lawsuit has led to the shutdown of the Global Alliance for Responsible Media (GARM), which was accused by X of orchestrating systematic exclusions that hurt the platform's ad revenue. GARM's closure underscores the lawsuit's substantial influence on the industry.
Yaccarino's Call for Reform:
- Linda Yaccarino has called for major reforms in the advertising industry, criticizing the monopolistic practices of dominant players. She advocates for a decentralized advertising ecosystem to foster competition and innovation.
Political Implications:
- The lawsuit coincides with Elon Musk's interview with Donald Trump on X, drawing scrutiny from the European Union and the United Auto Workers (UAW) union. The EU is concerned about the spread of harmful content under the Digital Services Act (DSA), while the UAW has filed federal labor charges against Musk and Trump for potentially coercive rhetoric.
Conclusion:
Musk's antitrust lawsuit could have significant implications for the advertising and social media industries, potentially leading to a more decentralized and equitable advertising ecosystem. The outcome of this legal battle could reshape digital marketing and its regulatory landscape.
Source - en.coinotag.com
#CryptoTrends2024
Elon Musk's Platform X Files Antitrust Lawsuit Against Major Brands
Overview:
- Elon Musk's social media platform, X, has filed an antitrust lawsuit against major brands, including CVS Health, Mars, Orsted, and Unilever. The lawsuit accuses these companies of unlawfully coordinating a boycott of X, severely damaging its advertising revenue. CEO Linda Yaccarino highlights the lawsuit as a response to the significant impact on X’s business.
GARM Closure:
- The lawsuit has led to the shutdown of the Global Alliance for Responsible Media (GARM), which was accused by X of orchestrating systematic exclusions that hurt the platform's ad revenue. GARM's closure underscores the lawsuit's substantial influence on the industry.
Yaccarino's Call for Reform:
- Linda Yaccarino has called for major reforms in the advertising industry, criticizing the monopolistic practices of dominant players. She advocates for a decentralized advertising ecosystem to foster competition and innovation.
Political Implications:
- The lawsuit coincides with Elon Musk's interview with Donald Trump on X, drawing scrutiny from the European Union and the United Auto Workers (UAW) union. The EU is concerned about the spread of harmful content under the Digital Services Act (DSA), while the UAW has filed federal labor charges against Musk and Trump for potentially coercive rhetoric.
Conclusion:
Musk's antitrust lawsuit could have significant implications for the advertising and social media industries, potentially leading to a more decentralized and equitable advertising ecosystem. The outcome of this legal battle could reshape digital marketing and its regulatory landscape.
Source - en.coinotag.com
#CryptoTrends2024