ELON's PAMPOn October 29 , DOGE rose sharply, what was it?
Many people call such impulses in different ways and very often such movements are called pumps.
History
On September 7, 2021 , there was a PUMP , which was accompanied by a gigantic volume.
The price went up sharply, after which it adjusted slightly, and then again made an incredible impulse on April 18, 2021 .
This impulse was also accompanied by a large volume, but this volume was less than at the first PUMP .
What does this tell us?
DIVERGENCE
According to the chart, we see that the price is rising, and the volume is falling, and this is a sign of an imminent reversal.
This is often observed with an artificial price movement or with a PUMP .
If we look at the trend line, we can see that the price, after the PUMP , returns to the trend line, as if reaching a balance.
Most often, the PUMP is accompanied by news.
As we know, Elon Musk bought Twitter , and not just bought it, but is going to make DOGE the main cryptocurrency for making payments to Twitter .
Around this time, the peak was formed on October 29, 2022 , accompanied by large volumes.
How will this affect the price?
Share your opinion.
