Market Analysis

Dogecoin (DOGE) Rallies Sharply on Elon Musk Co-operation, Coinbase Adoption News

Dogecoin (DOGE / USD) and Alt-Coins price, analysis and chart:

  • Dogecoin is back in the spotlight after the recent big losses.
  • The broader cryptocurrency market is stabilizing following a recent route.

Dogecoin (DOGE) rallies hard today, combining this week with heavy losses. The honey-inspired coin will change hands for $ 0.535, rising about 25% in the last 24 hours and cutting this week’s loss to just 13%. 4th the largest cryptocurrency now has a market value of just over $ 70 billion, which would put it at 117th the largest company S&P 500, overshadowing traditional giants including Ford, Kraft Heinz, Du Pont and Dow Chemical.

The latest price increase can be attributed to two recent news, one from the cryptoacolite Elon Musk and the other from the world’s largest cryptocurrency. Tesla boss Musk tweeted last night to “work with Doge developers to improve the efficiency of system transactions,” ending his tweet, which could be promising. The tweets of Elon Muski are watched very closely by cryptocurrency traders and all bullish hints are jumped quickly.

Cryptographic exchange, Coin base (coin) said in an income speech on Thursday that they want to offer trading on Dogecoin on their platform over the next six to eight weeks. The recently listed stock exchange has about 43 million retail accounts and about 7,000 institutional users, which should provide greater visibility and liquidity for Dogecoin.

A simple 20-day moving average has provided support for Doge over the past month, and if it remains, re-testing recent peaks cannot be ruled out. Volatility remains high and further sharp steps in the recent range of $ 0.35-0.74 cannot be discounted.

Dogecoin (DOGE) Every day Price chart (FebruaryMay 14, 2021)

Dogecoin (DOGE) rallies in close collaboration with Elon Muski, Coinbase reception news

Through Chart @ Tradingview.com

The broader cryptocurrency market is stabilizing after yesterday’s route Bitcoin session flat, but a week 10% lower, however Ethereum is 1% lower in the day but 12% higher in the last seven days.

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What are your views Dogecoin (DOGE) – bullish or bearish ?? You can notify us via the form at the end of this section or you can contact the author Twitter @ nickcawley1.

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