- Rumors on Crypto Twitter suggest that Elon Musk aims to let users trade BTC and ETH.
- Dogecoin faces a price correction after DOGE was temporarily crowned as the new Twitter logo.
- Bitcoin gained extensive popularity on Crypto Twitter after hitting the $30,000 mark.
Swirling rumors by popular crypto influencers on Twitter suggest that Elon ‘Chief Twit’ Musk and Twitter staff are testing some new features. Firstly, the in-app crypto exchange on Twitter 2.0 would have Bitcoin (BTC) and Ethereum (USD) as default trading pairs, while the rest of the supported cryptocurrencies are unconfirmed.
Furthermore, Musk is testing out an AI engine after recently acquiring 10,000 graphics processing kits. This could mean NFT integration in the upgraded version of Twitter, but no further details have been revealed.
DOGE Pulled Back from Bull Company
The #8 ranked cryptocurrency, Dogecoin (DOGE), dipped by 13.2% in the last seven days after a three-day run as Twitter’s official logo catapulted DOGE above $0.10 for the first time since Musk’s Twitter Takeover in October 2022.
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At press time, Dogecoin trades at $0.082588, according to CoinGecko. In technical terms, the canine currency still faces market price correction after two large whales unexpectedly dumped $121 million in DOGE.
Currently, Dogecoin has a high probability of bullish divergence, which occurs when the $DOGE price drops to a new low while an oscillator fails to reach a new low, signaling that the bulls are taking over. However, further price decline for $DOGE below the crucial support levels of $0.08 could erase its bull run profits.
DOGE Daily Charts – Bullish Divergence Incoming?
On the Flipside
- Even though Elon Musk added tickers for Bitcoin, Ethereum, and several other popular cryptocurrencies, the billionaire never publicly mentioned plans to launch a crypto exchange.
- Despite the strong weekly bearish trend, Dogecoin is still 16.4% up in monthly terms. However, the crypto data analytics tool IntoTheBlock shows a 3:1 bearish vs. bullish on-chain signal ratio.
Why You Should Care
Dogecoin is one of the most-watched cryptocurrencies in the market, gaining many social mentions due to support from Elon ‘The Dogefather’ Musk.
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