Dogecoin Price Spikes – Unsurprisingly – After This Tweet From Elon Musk

Christian Encila

2 years ago

2 mins read

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Dogecoin, the top dog meme coin, has done it again and has winged its way by more than 4% following a Twitter post by Tesla CEO Elon Musk that read: “X AE A-XII loves Doges” with a video showing his son playing with Shiba Inu dogs.

Musk and his son X also posted photos via Twitter that show off their matching haircuts. The billionaire admits to cutting both his own as well as his son’s hair. Interestingly enough, Twitter user @cb_doge was able to dig up a couple of old photos of the Tesla big boss and compared Musk to his son.

Last June, Business Insider announced that the Tesla billionaire officially fathered twins together with Shivon Zilis, Neuralink top executive. To date, Musk now has over 10 kids.

Dogecoin Price Spikes By More Than 16%

X is Musk’s child with Claire Boucher, a Canadian pop star. Evidently, Boucher separated with Musk after they had their second child.

The Tesla CEO also said that he will be posting another photo on Tuesday together with his Floki Inu dog.

Following Musk’s amusing tweet, DOGE token has surged by more than 16%. It was in mid-June that Musk faced a $258-billion lawsuit accusing the billionaire of involvement with crypto pyramid schemes.

Dogecoin bulls hoisted a robust buying pressure spotted at the support zone of $0.06. This somehow triggered a revival that shoots above the red or Point of Control (POC). In order to push through the break in volatility, DOGE is shoveling near-term gains.

DOGE Bullish, Set To Reap More Gains

DOGE’s four-hour chart shows a bullish pattern as sellers face threats. As of this writing, DOGE trades at $0.0727, showing an increment of 3.61% seen overnight.

After breaking through the resistance line of $0.07, Dogecoin was able to shave roughly 21% off its TVL which paired with the coin’s weekly lows seen on July 26.

DOGE was extremely bullish as seen in the past couple of days. Predictably, a bearish reversal may happen within the range of $0.0715-$0.071. Evidently, the bears could show up in the range $0.073-$0.076 posing hurdles.

Similarly, DOGE’s RSI reached the overbought zone as of this writing. A reversal is imminent from the nearest resistance range. More so, the Volume Oscillator also showed a bullish divergence triggered by the higher dips seen in the past couple of days that stirred up buying volumes.

With the bullish breakout, DOGE could fan the flames and reap more gains reaching a near-term reversal.

ADA total market cap at $16.7 billion on the daily chart | Source: TradingView.com

Featured image from Analytics Insight, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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