Weeks ago, Musk reacted positively to a Twitter user’s comment about the potential of Dogecoin. Steven Seele’s tweet noted: “One of the best things about Musk buying Twitter or starting his own platform is that we know there will be a Dogecoin tip pot.”. Musk reacted positively to this tweet and thus sparked interest in buying the coin on the market.
Twitter Blue was launched as an option for those users who want to enjoy special features like ‘undo Tweet’ option, add bookmarks, etc. Musk also proposed that the price “should be proportional to affordability and in local currency.” He also raised the question about a payment option in Doge. Apparently it’s just a matter of patience.
Cryptocurrencies in a downtrend
“The bitcoin pulled back as risk aversion returned to wall street, with tech stocks leading the decline,” commented Edward Moya, an analyst at Oanda. “The suspension of gas supplies to Poland by Russia made risky assets, including cryptocurrencies, They will go down considerably.”
Musk and Twitter’s push managed to lift Bitcoin towards $40,000 but failed to hold it and is now clinging to $38,500, with an eye on $36,500. Ethereum has performed similarly and is in a back and forth movement from $2,800 to $3,200.
The falls this Wednesday are around 5% in the two main currencies of the market, as well as Terra (-8%), Cardano or Avalanche (-5%). As for Dogecoin, it soared 26% this Monday after hearing the news and has accelerated its performance to increases of 30% on Tuesday, to later cut its rises and finish below 0.14 dollars. The technical analysis of the cryptomeme, however, indicates that the bullish signal it left between Monday and Tuesday has not been invalidated.
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Source: Ambito
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