Technical and Fundamental Analysis for Dogecoin
Technical and Fundamental Analysis for Dogecoin pump based on Twitter rebranded as (X)
Fundamentals - Traders and speculators are spreading rumors about Elon Musk will going to use Dogecoin as a currency for its social media (X) known as Twitter, to support these rumors why they think Elon Musk will use Dogecoin I look deeper into the data on its public blockchain and market statistic.
Technical Analysis – As per checking on the current market cap Dogecoin bottomed around 0.064usd – 0.079usd with a market cap of 88B – 99B which is a sign of traders, investors, and whales are buying in these areas and hoping for a rebound and breaks its resistance.
Data image
imgur.com/A7xzrGt
Another confluence to these readings is this anonymous whale accumulating Dogecoin since May 19, 2023, the whale take advantage of the bear market condition to accumulate Dogecoin fast with an average buy of $0.069 with a total worth of 2,540,811,362.37 USD (In billions USD), and this whale is currently holding the 23% total supply of Dogecoin, maybe there is something is happening in the Twitter space along with dogecoin since a single whale is accumulating Dogecoin in these prices. “This data is coming from bitinfocharts.com and blockchair.com”
Data image
imgur.com/M7cGAwS
The idea is these rumors have begun speculating on the internet since Elon Musk announced the rebranding of Twitter to X and I think the accumulation of the whale is already done and it's ready to hype the market and pump the coin and this whale can easily be made a 2x profit if the market cap reached 18.39B which is already reached last year.
Fundamentals - Traders and speculators are spreading rumors about Elon Musk will going to use Dogecoin as a currency for its social media (X) known as Twitter, to support these rumors why they think Elon Musk will use Dogecoin I look deeper into the data on its public blockchain and market statistic.
Technical Analysis – As per checking on the current market cap Dogecoin bottomed around 0.064usd – 0.079usd with a market cap of 88B – 99B which is a sign of traders, investors, and whales are buying in these areas and hoping for a rebound and breaks its resistance.
Data image
imgur.com/A7xzrGt
Another confluence to these readings is this anonymous whale accumulating Dogecoin since May 19, 2023, the whale take advantage of the bear market condition to accumulate Dogecoin fast with an average buy of $0.069 with a total worth of 2,540,811,362.37 USD (In billions USD), and this whale is currently holding the 23% total supply of Dogecoin, maybe there is something is happening in the Twitter space along with dogecoin since a single whale is accumulating Dogecoin in these prices. “This data is coming from bitinfocharts.com and blockchair.com”
Data image
imgur.com/M7cGAwS
The idea is these rumors have begun speculating on the internet since Elon Musk announced the rebranding of Twitter to X and I think the accumulation of the whale is already done and it's ready to hype the market and pump the coin and this whale can easily be made a 2x profit if the market cap reached 18.39B which is already reached last year.
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