Elon Musk decided to enter the social media business earlier this year by bidding on Twitter. However, he immediately faced strong opposition and became a villain. Court cases were opened against him and it became difficult to find Twitter, but in the end he got 44 billion dollars and went into the sink in his arms. He has already made changes, firing top executives and his lawyer and turning it into a private company.
The price of Twitter shares jumped from $42 to $52 last fall and Musk’s favorite cryptocurrency DOGE, which he may also own, has also increased around 250% from $0.0594 to $0.15 since Tuesday – with a price increase of 80%. Just in the last 24 hours.
Twitter daily chart – rising above $0.15
Moving averages are finally broken.
Dogecoin has been in decline for almost a year as the crypto market has been retreating. The lows have not been falling over the last several months, although the highs have certainly been falling and the averages have been acting as resistance on the daily chart. However, buyers started to come in earlier this week, after Mook took over Twitter and yesterday we saw a huge increase that pushed the price above $0.15, although it has given some gains since then. So, the doge looks bullish now and we try to buy the low returns.