We announce the burning of an impressive 51,173,118 Dogecoins. š³š¶ This significant reduction in supply underscores our dedication to fostering long-term growth and stability within the Doge ecosystem. With each burnt coin, we inch closer to our goal, steadfast in our resolve to continue burning until Dogecoin reaches the coveted $1 mark. This ongoing initiative, coupled with widespread adoption and unwavering support from figures like Elon Musk, propels Dogecoin towards new heights, making it an enticing investment opportunity for enthusiasts worldwide. šš„
šØšØšØ Itās a great announcement from Musk! DOGE fans never give up no matter if PEPE, BONK, SHIBA go higher faster. DOGE will be more stable. š
The price of Dogecoin skyrocketed as Elon Musk openly supported the memecoin. Musk called DOGE āpeopleās crypto.ā He confirmed that Tesla will soon accept DOGE in the form of payments. Dogecoin soared to new highs after Tesla and SpaceX chief executive Elon Musk, also known as the āDogefather,ā confirmed in a press conference that his electric vehicle manufacturing company will enable payments in Dogecoin (DOGE) in the near future.
According to the data from CoinMarketCap, as of 12:53 a.m. ET Thursday, DOGE is up 6.6% in the past hours, followed by a 20% surge in the past seven days. The price of the memecoin stands at $0.1781, with a 20.46% surge in trading volume. However, Dogecoin is still 75.24% away from its all-time high of $0.7376 witnessed on May 8, 2021.
Musk spoke at the āWe Are Gigaā event in Texas and supported Dogecoin in front of the attendees. He shouted āDogecoin to the Moonā in front of a cheering crowd. āWhen can you buy a Tesla with Dogecoin?ā an attendee asked the billionaire.
āAt some point, I think we should enable that.ā Musk replied while adding:
A lot of people donāt know why I support Dogecoin. While I was walking around the factory in Tesla, a lot of regular guys said āHey can you support DOGEā. Even at SpaceX, people working at factories, regular guys said āPlease support DOGE The billionaire also noted that a lot of billionaires support Bitcoin (BTC), but he will continue to support Dogecoin because āDOGE is peopleās crypto.ā
As February ended, Dogecoin re-entered the top 10 cryptocurrencies by market capitalization as investors hoped for Musk to extend support for the memecoin. It is clear that the prayers of investors have been answered.
Market Structure & Pattern: Bitcoin is forming a descending wedge, with lower highs indicating weakening bullish momentum. The price is testing the ascending trendline support, which, if broken, could lead to further downside.
Anticipated Move: A short-term bounce may occur, but a rejection from resistance is expected. BTC is likely to break below support, leading to a move toward the $80,000 - $81,000 demand zone.
Confirmation & Invalidations: A confirmed break below the trendline supports the bearish outlook. Bullish invalidation: A strong breakout above $89,200 - $90,000 could shift momentum back to the upside.
Conclusion: The current structure suggests a bearish breakdown, with a target of $80,000 - $81,000 unless resistance is broken. Monitoring price action at key levels is crucial for confirmation.
Trade at your own Risk š Best Regards, Trade Cryptocurrency Stay Tuned for Further Updates.
bro they will manipulate us once again and they will pump the price now
MU_Traders
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$BTC Technical Analysis
Alhamdulillah ā¤ļø,
As analyzed yesterday #BTCāļø rejected from $97,575 and exactly bounced from $93,500 zone. Right now it is looking like that #Bitcoinā will reject from $95,301 zone till $92,057. Here is the reason why?
Look at the last leg down from $$97,575 to $93,500; range upward liquidity sweep and then dump. Also retraced till 0.5 ratio of Fib retracement tool.
Same thing happened this time range with low volume that created liquidity on both sides. so most probability is that #bitcoin sweep upside liquidity with upthrust and drop till $92,057.
Drop length calculated via last length drop from range till low of ultra high volume.
We will try to buy if it go UpTo 91K without showing any support at $92K. That will show pattern change so most probability trend reversal .
It is my personal opinion do your own research before investing . Don't forget to like post and follow for more updates .