Ilan Mask posted another tweet about digital currencies Saturday, April 24

Ilan Mask posted another tweet about digital currencies Saturday, April 24

The CEO of Tesla and SpaceX has released another mysterious tweet about digital currencies. He did not talk about Dogecoin and Bitcoin this time, but in his tweet he asked which coin the future will hoodle.

The digital currency community, predictably, began to answer this question with the terms "Dogecoin" and "Bitcoin".

 Tesla CEO's tweets as a Dogecoin fan have been good for Dogecoin in the short term, pushing the digital currency to a high of $ 0.44 last week.

On April 19, the Dogecoin traded at $ 0.44 but has so far reached the $ 0.28 mark, proving that the Dogecoin is a highly volatile asset that can be tweeted from an influential person like Ilan Mask. Swing easily.

Dogecoin whales traded $ 12 billion in one day

Dogecoin whales traded $ 12 billion in one day

The dramatic rise in the price of Dogecoin (DOGE), which ranks third in terms of market value, coincides with the resurgence of Dogecoin whales due to rising blockchain standards in the past 24 hours.

More than $ 12 billion in Dogecoin was transferred to the blockchain yesterday, according to BitInfoCharts. On that day, only $ 6 billion in ether (ETH) was processed in the Ethereum network.

Prior to the recent jump in Dogecoin due to Reddit pumps and Ilan Mask tweets, the currency had only reached $ 0.01 once in its eight-year history. The sudden increase of 400% of this currency and reaching a price higher than $ 0.30 during the last week, has attracted a lot of attention and has been followed by a review of Dogecoin subreddits.

According to Skew.com analysts, last week the number of new subscribers of this sub-reddit increased in line with the increase in the price of this Altcoin, from hundreds to thousands in one day.

Dogecoin Analysis (DOGE) Wednesday, March 4

Dogecoin Analysis (DOGE) Wednesday, March 4

Following the fall of the Dogecoin digital currency this month, buyers are trying to form a corrective trend. However, we are seeing a slight volatility in the Dogecoin price.
On the other hand, by drawing two trend lines in a four-hour time frame, a regular triangle pattern is formed. If this pattern is broken from any side, an ascending or descending trend will be formed.
If the pattern breaks, the Dodge Quinn will rise 38% to $ 0.07. However, buyers should be able to push the price above the levels of the 100 and 200 moving average indicators in the four-hour time frame.

Another factor that has increased the probability of price growth is the uptrend of the MACD indicator. According to this indicator, the MACD line has reached the top of the signal line. This triggered a buy signal by the MACD.
On the other hand, the number of new daily addresses that are added to the network of this digital currency has now reached 42,000 after reaching 33,000 on February 23rd. The growth and expansion of the Dogecoin network is an important fundamental factor for price growth.

On the other hand, looking at the four-hour time frame, we see that the 50 moving average indicator in the range of $ 0.05 plays the role of a support. If the price penetrates below the level of this indicator, the price will fall to the downtrend line of the triangle pattern, and if this level is broken, we will see a strong downtrend to the target of $ 0.03.

Dogecoin (DOGE) or other digital currencies?

Dogecoin (DOGE) or other digital currencies?

SpaceX and Tesla CEO Ilan Musk took to Twitter to see how interesting Dogecoin (DOGE) is to people.

In the survey, Musk asked whether the future currency would be Dogecoin (DOGE) or other digital currencies in general.

At the time of writing, 72.5 percent have chosen Dogecoin (DOGE) and only 27.5 percent accept the other option.

The last time Musk tweeted about Dogecoin (DOGE) was on Thursday, when he called it the popular currency, boosting it by 50 percent to $ 0.559.

Of course, the effect of this pump did not last long and this currency entered the correction process. The Dogecoin (DOGE) is currently trading at $ 0.0485.

Is Mask disappointed with Bitcoin?

On January 29, at the height of the US stock market controversy, Ilan Mask posted the word bitcoin on his bio Twitter.

On the same day, he announced that Bitcoin is a very good currency and confirmed that he supports it.

That led to a 20 percent increase in bitcoin, from $ 32,000 to $ 38,500.

Like Dogecoin (DOGE) , the mask's effect on Bitcoin did not last, and the currency returned to $ 35,000.

However, on February 4, when Ilan Musk tweeted again about his favorite currency, DOGE, he removed bitcoin from his bio.

The world's largest digital currency crossed the $ 39,000 mark on Friday and is currently hovering at $ 39,387.