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Elon Musk Influences Dogecoin: The Importance of Bybit’s Tools & Plus Wallet for Traders

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In the world of cryptocurrency, timing can be the difference between profit and loss. Elon Musk’s recent audio chat triggered another surge in Dogecoin’s value, highlighting how market sentiment can pivot on the actions of influential figures. Bybit, known for its powerful trading tools including high-leverage options and copy trading, provides traders with critical leverage in this unpredictable market.

The necessity for a dependable and secure wallet grows as market conditions fluctuate. Plus Wallet excels by integrating seamlessly with trading platforms such as Bybit, offering robust features that allow users to leverage events like Musk’s impact on Dogecoin for quick and efficient asset management.

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Elon Musk’s Dogecoin Disclosure Goes Viral

Elon Musk has made headlines in the cryptocurrency community once more. During a recent widely-shared audio chat, he indicated his significant holdings in Dogecoin, sparking a buying frenzy. Consequently, Dogecoin’s value soared, surpassing key resistance levels as investor interest intensified.

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Musk’s ability to affect Dogecoin prices is well noted, with his public remarks frequently leading to sharp market reactions. This new disclosure has fueled further optimism, with some analysts now foreseeing a possible rise to the $0.50 threshold. Musk’s continuing sway keeps Dogecoin investors on alert for his next move.

Bybit’s Advanced Trading Features

Bybit stands out as a top cryptocurrency exchange with its sophisticated tools and intuitive interface, accommodating novice and experienced traders alike. The platform specializes in derivatives trading, offering features such as 100x leverage, seamless TradingView integration for real-time analysis, and a transparent fee structure. It also offers copy trading for both spot and derivatives markets, allowing traders to effortlessly mimic successful trading strategies.

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Notable features include round-the-clock customer support, secure transactions, and a cryptocurrency debit card for everyday use. Bybit adheres to stringent regulations, licensed by authorities like Dubai’s VARA and Europe’s CySEC, underscoring its commitment to security and regulatory compliance. However, its services are not available in certain regions like the U.S. and U.K. due to local regulations.

Plus Wallet: Your Key to Crypto Security

Plus Wallet has proven itself as an essential tool for secure and efficient digital asset management. In moments like the recent Dogecoin price surge, driven by Elon Musk’s audio chat and advanced trading features from platforms like Bybit, traders needed immediate and reliable access to their assets. Plus Wallet stepped in as the perfect solution, enabling smooth transactions and real-time portfolio monitoring.

Bybit’s advanced trading tools, such as its TradingView integration and high-leverage options, demand a wallet with robust security and fast access. Plus Wallet addresses these needs with multi-layered encryption and instant transfer capabilities. Its compatibility with multiple trading platforms allows users to seize opportunities, whether leveraging Musk’s influence on Dogecoin or engaging in derivatives trading on Bybit.

One of Plus Wallet’s standout features is its intuitive interface, designed to simplify crypto management for both newcomers and experienced traders. With tools like in-app staking, support for multiple currencies, and real-time market tracking, it empowers users to stay informed and agile.

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As events like Musk’s Dogecoin revelations and Bybit’s trading tools continue to shape the crypto market, Plus Wallet as the most secure wallet, ensures traders have the security, flexibility, and functionality needed to succeed. For anyone serious about refining their trading approach, Plus Wallet offers a unique combination of dependability and utility.

Summing Up

In the fast-moving cryptocurrency market, having the right tools for quick and secure decision-making is crucial. Elon Musk’s influence on Dogecoin and Bybit’s advanced trading capabilities highlight the volatile nature of crypto investments.

A reliable platform like Plus Wallet is essential for managing assets effectively, offering strong security, seamless transactions, and easy integration with trading platforms. 

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This ensures traders can confidently respond to market changes, making the most of every opportunity, from reacting to Musk’s disclosures to utilizing Bybit’s trading functionalities.

Explore Plus Wallet:

Website: https://pluswallet.app/

Download: https://onelink.to/pluswalletapp

Twitter: https://x.com/pluswalletapp

Instagram: https://www.instagram.com/pluswallet.app/ 

Dogecoin Soars To 3-Year Peak Amid Elon Musk’s X Payment Integration Buzz

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  • Dogecoin hits 3-year high at $0.48, fueled by speculation around Elon Musk’s X platform and potential ‘X Payments.
  • Analysts predict Dogecoin’s price could reach $1 by Q1 2025, with long-term Fibonacci targets between $2.90 and $3.60.
  • Investors eye Dogecoin as trading volume hits $15.4B in one day, cementing its role in Musk’s evolving digital ecosystem.

Dogecoin (DOGE) has hit a three-year high of $0.48 on November 23rd with a 20% gain in the past week and a staggering 219% gain in the last month. This fast adoption has made DOGE be the third most traded cryptocurrency with a trading volume of $15.40 billion in one day. The increase has attracted the interest of investors and analysts, with many suspecting that the increase is directly linked to events around Elon Musk’s social media platform X.

The most recent increase in price can be mainly attributed to the rumors regarding the new social media platform of Elon Musk, the X platform. This new symbol which is unique to X’s tipping feature has given rise to a lot of speculations that “X Payments” is on the way. This has seen many people think that DOGE could be at the center of this new payment system, a notion that has created a lot of interest among investors.

Dogecoin’s Growth Predictions

Based on technical analysis, analysts are bullish on Dogecoin and they have reason to be as shown by specific price levels and patterns. Javon Marks, an analyst, pointed out that the price of $0.43 was a critical break out point. In his assessment, backed by the Relative Strength Index (RSI) and the 50-day Exponential Moving Average (EMA), Dogecoin is expected to rise further. Dogecoin might be expected to continue growing. The price of the token will be between $0.65 and $1.25, depending on market conditions.

Another chart pattern analyst Tardigrade is also optimistic. He expounded on the creation of a “high-tight flag”, which is a very special and extremely bullish and a rather rare pattern that usually precedes a strong upward move in the price. Tardigrade has robustly claimed that Dogecoin is poised to hit $1 and said that the crypto will only go up from there.

Key Resistance and Growth Levels

At the time of writing, the price of Dogecoin is $0.4344, and within the last 24 hours, the currency has decreased by 3.34%. If DOGE manages to break the $0.73 barrier, it could go as high as $1 by the end of Q1 2025. In addition, on the cryptocurrency’s monthly chart, Fibonacci highlights long-term targets at $2.90 and $3.60, which is good news for investors.

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Source: TradingView

This spike occurs at the same time as there is increased rumor that Dogecoin may be included in Musk’s digital portfolio. Elon Musk is a big advocate of the cryptocurrency, and many investors view DOGE as a significant part of the future of developments with X and its potential payment systems.

With Dogecoin still rising, the future looks more and more promising for this currency. Many people are watching its next steps and believe that this might just be the start of another big bull run for the meme cryptocurrency. Given the current interest and the trading volume, there seems to be no stopping to how high Dogecoin can possibly go.

Elon Musk Wins Legal Battle Against SEC Over $44B X Acquisition Deal

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  • Elon Musk defeats SEC’s attempt to fine him over missed meeting in $44B X acquisition deal.”
  • Musk wins legal victory, secures no penalties for skipping SEC meeting amid SpaceX rocket launch.
  • SEC’s failed lawsuit over Dogecoin manipulation adds to Musk’s string of recent legal triumphs.

Tesla CEO Elon Musk has been able to defeat a critical decision by the U.S. Securities and Exchange Commission (SEC) in the ongoing legal struggle. The SEC has been denied by a court to fine Musk for failing to attend a meeting with the agency’s lawyers over his $44 billion purchase of the social media platform X.

The case started in December 2023 when Elon Musk failed to attend a meeting with the SEC lawyers preferring to watch the SpaceX rocket launch. The SEC asked for penalties based on Musk’s absence at the meeting that was set to be a part of a court order made in May 2023. However, in this case, U.S. District Judge Jacqueline Scott Corley decided that Elon Musk should not be penalized as he had already coughed out the money for flights of the three SEC lawyers who were to meet with him.

Elon Musk Meets Court Requirements

According to Judge Corley, Elon Musk has complied with the previous court order in some other ways such as meeting with the SEC officials in October and even testifying about the acquisition of X. The judge denied the notion of a penalty saying that Musk had done enough to meet the conditions set by the court.

Elon Musk, responded to the ruling through his social media posting a sarcastic message about the SEC. He stated, “SEC. The middle word is definitely “Elon’s”, but I can never remember what the other two words stand for.”

This is the latest in a series of legal triumphs for Musk, who also recently had a lawsuit that accused him of manipulating the Dogecoin price withdrawn. Musk who were accused by the investors that filed the case against them, saw the investors backing out of the appeal, a win for Musk in a week of multiple wins.

Criticism of SEC Spending

Musk’s influence on government has also been increasing due to his appointment as the co-chair of the soon to be formed Department of Government Efficiency (DOGE). In this role, Musk will manage federal entities such as the SEC and manage funds coming from taxpayers that could lead to another lawsuit with the SEC.

The move has come under criticism from some quarters and this includes Ripple’s Chief Legal Officer Stuart Alderoty who has challenged Musk to look into the spending habits of the SEC. Alderoty noted that the Commission is spending taxpayers’ money on unmerited enforcement actions and thereby adding more heat to the ongoing legal and political war between Musk and the SEC. 

As Musk and Tesla keep on growing their dominance in the business world and government relations his relations with the SEC are not over yet. His legal victories and his role in the government paved the way to future disputes and many expected another conflict between Musk and the regulatory body.

Dogecoin (DOGE) Gains Momentum as Elon Musk’s Support Fuels Bullish Outlook

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Dogеcoin (DOGE), thе populаr mеmеcoin, hаs bееn fаcing downwаrd prеssurе in rеcеnt wееks, following thе broаdеr bеаrish trеnd in thе cryptocurrеncy mаrkеt. This dеclinе hаs impаctеd invеstor confidеncе, cаusing concеrns ovеr DOGE’s futurе pеrformаncе. Howеvеr, rеcеnt dеvеlopmеnts hint аt thе possibility of а bullish turnаround for thе coin.

A kеy fаctor contributing to rеnеwеd optimism is thе continuеd bаcking from Elon Musk, а long-timе supportеr of Dogеcoin. On Sеptеmbеr 7, Musk floаtеd thе idеа of crеаting а nеw govеrnmеnt institution, dubbеd “DOGE”—аn аcronym for thе “Dеpаrtmеnt of Govеrnmеnt Efficiеncy.” This аnnouncеmеnt spаrkеd еxcitеmеnt within thе Dogеcoin community, lеаding to spеculаtion аbout potеntiаl short-tеrm pricе surgеs fuеlеd by Musk’s significаnt influеncе ovеr thе mаrkеt.

Sincе Musk’s twееt, its pricе hаs surgеd by 12.26%, еvoking mеmoriеs of thе mеmеcoin’s еаrliеr pricе booms. Thе coin hаs аlso sееn а noticеаblе risе in opеn intеrеst (OI) аnd funding rаtеs within thе futurеs mаrkеt.

According to Coinglаss, its OI in thе futurеs mаrkеt incrеаsеd from $442.37 million on Sеptеmbеr 7 to $501.42 million by Sеptеmbеr 14, rеflеcting а rising numbеr of trаdеrs еntеring thе mаrkеt. Additionаlly, thе funding rаtеs for Dogеcoin futurеs hаvе turnеd positivе, а strong signаl of growing bullish sеntimеnt аmong trаdеrs.

DOGE Futures Open Interest
Source: Coinglass

DOGE Technical Indicators Signal Uptrend

Thе Monеy Flow Indicаtor (MFI) providеs furthеr еvidеncе of аccumulаtion, jumping from а low of 20.61 on August 5 to 66.87 аt prеsеnt. Likеwisе, thе Rеlаtivе Strеngth Indеx (RSI) stаnds аt 54.94, suggеsting thаt DOGE bulls аrе slowly rеgаining momеntum, аs thе RSI rеmаins аbovе its midpoint with no significаnt sеll prеssurе.

A rеspеctеd crypto аnаlyst, ZAYK Chаrts, prеdicts а notаblе pricе incrеаsе in thе nеаr futurе. Hе points out thаt DOGE hаs bееn confinеd within а fаlling wеdgе pаttеrn sincе Mаrch, а tеchnicаl formаtion oftеn sееn аs а bullish indicаtor. ZAYK Chаrts notеs thаt oncе it brеаks out of this wеdgе pаttеrn, it could triggеr а substаntiаl bullish wаvе.

Dogecoin
Source: ZAYK Charts

Currеntly, it is trаding аround thе 50-dаy еxponеntiаl moving аvеrаgе (EMA) аt аpproximаtеly $0.106. A dеcisivе brеаkout аbovе thе 50-dаy EMA could drivе thе pricе towаrd thе wеdgе’s uppеr trеndlinе, nеаr $0.108. If thе coin brеаks through this uppеr trеndlinе, thе pricе could climb аs much аs thе wеdgе’s mаximum hеight, sеtting а potеntiаl yеаr-еnd tаrgеt of $0.193.

Related Readings | Bitcoin on the Brink of Major Move as Coinbase Premium Narrows: Report

Elon Musk Gets New Favorite Cryptocurrency – No, It’s Not Dogecoin

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X (formerly Twitter) boss, Elon Musk, took some time off in his ongoing struggle with the Brazilian government to show off his new favorite cryptocurrency. Notice we said “new”? The crypto community was shocked to learn about Elon Musk’s shift from Dogecoin (DOGE) and his fondness for ETFSwap (ETFS), a new presale Ethereum token. 

Elon Musk Spotlights Presale Ethereum Token, ETFSwap (ETFS)

The cryptocurrency community knows Elon Musk has a soft spot for Dogecoin (DOGE), even accepting the meme coin as legal tender for some Tesla merch since January 2022. Furthermore, Elon Musk periodically posts about Dogecoin (DOGE) on X, often causing the meme coin’s value to soar as traders awaited the next innovation Musk would announce.

However, on Tuesday, while addressing big players in the cryptocurrency industry, Elon Musk referenced ETFSwap (ETFS), the native token of the ETFSwap ecosystem. He elevated the token’s extensive utility over Dogecoin (DOGE) and cited the ingenious innovations the platform would bring to the global cryptocurrency scene. 

Elon Musk praised ETFSwap’s (ETFS) forward thinking in merging DeFi and traditional finance. He also revealed the scope of the ETF industry, rounding up its worth at over $10 trillion. Elon Musk believes the platform’s revolutionary approach is a real crowd-puller and has expressed plans to buy the cryptocurrency as soon as possible before its presale concludes.

ETFSwap (ETFS) Attracting Dogecoin (DOGE) Bigwigs With Unique ETF Trading Platform

ETFSwap (ETFS) merges DeFi and traditional finance by offering a sleuth of hybrid institutional ETFs for Dogecoin (DOGE) traders and investors to diversify their portfolios. The platform allows users to trade digital representations of these real-world assets such as stocks, bonds, equity, funds, etc. Furthermore, these highly liquid ETFs represent various industries, including healthcare, energy, agriculture, etc.

ETFSwap (ETFS) guides investors and traders in choosing investment vehicles using its advanced AI-powered analytical tools. The ETF Screener and ETF Tracker scour vast amounts of market data to extract trends and patterns and form insights that benefit traders and investors. 

ETFSwap (ETFS) offers its users attractive leverage options to multiply their potential earnings in the market. Users can access 10x leverage and 50x for futures and options trading. Thus, investors can turn their $100 investment into $1000 and more. The platform also allows users to enjoy passive income via staking. When they stake their preferred ETFs, they contribute to that ETF’s liquidity, which enhances the efficiency of trades on that ETF.

ETFSwap’s (ETFS) native token was also built to reward traders for using the platform. The token affords holders huge discounts on trading fees and exclusive access to early listings on the ETFSwap (ETFS) platform to stay ahead of the market. Additionally, ETFSwap (ETFS) rewards token holders with up to 36% from its dedicated staking rewards pool when they stake their tokens in ETFSwap’s (ETFS) staking protocol.

Meanwhile, ETFSwap (ETFS) understands the importance of security and transparency in trading. The platform leverages the highly secure and scalable Ethereum blockchain to provide its users with robust security. Also, users are not required to complete KYC verification before using the platform. All they need is a functional email address.

Further refining its security, the project’s team completed the KYC verification provided by SolidProof, a smart contract security auditing firm. Additionally, Cyberscope thoroughly audited ETFSwap (ETFS) to find any significant security vulnerabilities, and they found none.

Conclusion

ETFSwap’s potential to create cryptocurrency millionaires has endeared Elon Musk to the token. Besides, top analysts have pegged the cryptocurrency for a 10,049% rally upon launch. Consequently, many Dogecoin (DOGE) investors and industry experts are interested in the project’s ingenious proposition. 

To join them in positioning for massive gains soon, intelligent investors can buy ETFSwap (ETFS) at its low presale price of $0.03846 and use the 50% bonus promo to accumulate more tokens.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

Dogecoin (DOGE) Poised for 22% Rally Following Elon Musk’s Recent Influence

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Dogecoin (DOGE), thе mеmе-inspirеd cryptocurrеncy, is witnеssing rеnеwеd momеntum, lаrgеly duе to thе lаtеst еndorsеmеnt from its prominеnt supportеr, Elon Musk. Following а rеcеnt sociаl mеdiа post from Musk, DOGE’s pricе surgеd by 6.5%, undеrscoring Musk’s significаnt impаct on thе cryptocurrеncy’s vаluе.

Historicаlly, Musk’s sociаl mеdiа аctivity hаs cаusеd notаblе fluctuаtions in DOGE’s pricе, with prеvious instаncеs rеsulting in incrеаsеs of up to 23% аnd еvеn а drаmаtic 900%. With thе currеnt pricе аround $0.104, invеstors аrе hopеful thаt Musk’s continuеd bаcking mаy lеаd to аnothеr substаntiаl risе.

Anаlysts аrе cаutiously optimistic аbout DOGE’s futurе pеrformаncе. Psеudonymous trаdеr Dylаn hаs idеntifiеd а kеy brеаkout on thе DOGE pricе chаrt, pаrticulаrly аround thе $0.102 lеvеl on а 4-hour timеfrаmе. This brеаkout could signаl а rеvеrsаl from thе rеcеnt downwаrd trеnd, suggеsting а potеntiаl bullish rаlly.

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Dogecoin (DOGE) Poised for 22% Rally Following Elon Musk's Recent Influence 11

This tеchnicаl brеаkout indicаtеs а shift in mаrkеt sеntimеnt from bеаrish to bullish. Dylаn notеs thаt combinеd with Musk’s influеncе, this could drivе DOGE towаrds а sustаinеd upwаrd trаjеctory.

Dogecoin Price Forecast

Forеcаsts for DOGE suggеst а positivе bullish trеnd аhеаd. Thе rеcеnt brеаkout from а fаlling wеdgе pаttеrn, which bеgаn in еаrly August, hints аt incrеаsеd bullish momеntum. This is furthеr supportеd by thе rеcеnt cаndlеstick pаttеrn indicаting а strong upwаrd movе from а triаnglе formаtion, а clаssic bullish signаl following consolidаtion.

Rеsistаncе is еxpеctеd аround $0.1059, аligning with thе uppеr Bollingеr Bаnd. If DOGE surpаssеs this rеsistаncе, а potеntiаl surgе to $0.1274 (аpproximаtеly а 22% incrеаsе) is аnticipаtеd.

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Dogecoin (DOGE) Poised for 22% Rally Following Elon Musk's Recent Influence 12

Pricе аction nеаr thе uppеr Bollingеr Bаnd indicаtеs strong momеntum. If DOGE mаintаins its position аt or аbovе this bаnd, it could suggеst continuеd bullish prеssurе. Additionаlly, contrаcting Bollingеr Bаnds point to а pеriod of low volаtility, which oftеn prеcеdеs а significаnt dirеctionаl movе.

Dogecoin is currеntly nеаr its 20-dаy moving аvеrаgе of $0.10563, suggеsting thаt thе rеcеnt risе might bе sustаinаblе. Thе Coppock Curvе, а momеntum indicаtor, is currеntly аt а positivе 3.02571, rеinforcing thе upwаrd trеnd.

As long аs DOGE rеmаins аbovе thе criticаl support lеvеl of $0.0995, its outlook rеmаins bullish. Howеvеr, а dеclinе within thе triаnglе formаtion could signаl mаrkеt wеаknеss, potеntiаlly pushing Dogecoin down to $0.0985 or еvеn $0.0800.

Related Readings | Polkadot’s Bullish Wedge Signals Massive Rally

Dogecoin Surges 5% After Elon Musk’s Powerful ‘D.O.G.E.’ Tease

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Elon Musk has stirred the Dogecoin (DOGE) and broader crypto communities again. On Tuesday, Musk hinted at a playful take on serving the U.S. government with a nod to Dogecoin. The Tesla and SpaceX billionaire shared an AI-generated image of himself at a podium labeled “Department Of Government Efficiency (D.O.G.E.)” with the caption, “I am willing to serve.”

This playful post sparked excitement across the crypto world, especially among DOGE fans. The acronym “D.O.G.E.” was quickly picked up by enthusiasts, interpreting it as another of Musk’s famous nods to the popular meme coin.

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Source

Musk’s tweet comes after recent speculation about his involvement in government. Last week, former president Donald Trump hinted at offering Musk a cabinet or advisory role if reelected. Speaking at a campaign event in Pennsylvania, Trump mentioned Musk’s name as a potential candidate for a government position. Musk’s response, while humorous, kept the spotlight on DOGE.

Musk-Dogecoin Love Story

Musk’s relationship with DOGE is well-documented. He has promoted the meme-themed cryptocurrency on several occasions, boosting its popularity and price. From changing Twitter’s logo to the DOGE icon to enabling DOGE payments for Tesla merchandise, Musk’s influence on the coin is undeniable.

Earlier this year, Musk hinted that Tesla might accept Dogecoin as payment for its cars. This ongoing endorsement has led to notable price swings whenever Musk tweets or comments about DOGE.

Despite the hype, Musk’s support for DOGE has drawn criticism. Some accuse him of manipulating the meme coin’s market value. In 2022, a group of investors sued Musk, alleging that his tweets artificially inflated DOGE by 36,000% before it eventually plummeted.

Following Musk’s latest tease, Dogecoin saw an immediate price bump. The token rose by 5%, trading at $0.105 as of writing. This surge underscores Musk’s ongoing influence over Dogecoin’s market movements. With each playful reference, Musk keeps Dogecoin’s relevance alive, much to the delight of its dedicated community.

As always, when it comes to Dogecoin, Musk remains the king of memes and market moves.

Crypto Icon Elon Musk’s Laser Eyes Ignite Frenzy

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Crypto enthusiasts are buzzing again. Elon Musk, the Tesla CEO, has updated his X profile picture to feature himself in armor, with laser blue eyes and an American flag backdrop. This laser eye meme has significant roots in the crypto world, starting from the game Mass Effect 2 in 2010 and embraced by the digital asset community in 2021. It symbolizes strength and support for Bitcoin.

This change came right after news broke that President Joe Biden would not seek re-election. The crypto community, which leans towards Biden’s rival, Donald Trump, took this as a hopeful sign for Trump’s possible return to office. Trump has been vocal against Biden’s crypto policies and has promised to safeguard Bitcoin and crypto miners’ rights. This has won him favor in the crypto world.

Musk and Crypto: Never Ending Lovestory

In addition to the profile change, Musk voiced his belief in an America that celebrates individual freedom and merit. Musk’s name is no stranger to digital assets news, given his well-known support for Dogecoin. The laser eyes are more than just a trend; they show a strong stance in the Bitcoin community.

Interestingly, Musk’s timing aligns with his arrival in Tennessee for the 2024 Bitcoin Conference. His profile picture change happened on the same day he landed in the city hosting the event.

Musk is not alone in this trend. Marc Andreessen, co-founder of Netscape and the venture capital firm Andreessen Horowitz (a16z), followed suit. Andreessen’s new profile picture shows an anime character with laser eyes and an American flag. He made this change right after Biden’s re-election news broke.

Ryan Selkis, founder of the research firm Messari, also updated his profile to the laser eye theme.

Musk’s profile picture change is more than just a visual tweak. Earlier this year, he swapped his picture to an anime woman with glowing red eyes just weeks before Bitcoin hit its all-time high of $73,750 on March 14.

The community watches Musk’s moves closely. His latest profile picture speaks volumes, signaling his unwavering support for Bitcoin and a hopeful future for crypto under new political leadership.

Dogecoin’s (DOGE) Surges 9%: Elon Musk’s Comments Ignite Speculation & Concern

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Dogecoin, the cryptocurrency that started as a meme, has been making some serious waves lately. Its price has skyrocketed to around $0.19, currently sitting at $0.180765. In just the last 24 hours, it’s gained an eye-popping 9%, and over the past week, it’s up 18%. But perhaps most impressive is the massive 100% spike in 24-hour trading volume, which has soared to $4,996,560,702.

DOGE 1D graph coinmarketcap 1
Source: CoinMarketcap

So what’s driving this dogecoin frenzy? Look no further than Elon Musk, the eccentric billionaire and CEO of Tesla. During a recent event at Tesla’s Berlin factory, Musk did something only he could do – he casually confirmed that Tesla will start accepting dogecoin as payment. When asked if folks could buy a Tesla with DOGE soon, Musk simply replied:

At some point I think we should enable that.

Dogecoin’s Rally Divides Crypto Analysts

The crypto analysts are going wild over Musk’s comments. The popular Rekt Capital points out that DOGE has successfully tested its macro downtrend as new support, leading to a 46% rally. His goal for dogecoin now? Reclaim that $0.20 psychological resistance level is a springboard for even bigger gains.

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Another analyst sees DOGE’s recent price action as a breakout to resistance. Those higher lows on the daily chart show some serious momentum building up. And if you want to get really bullish, crypto expert Ali thinks dogecoin could realistically hit $1 by mid-April if history repeats itself.

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But not everyone is drinking the dogecoin Kool-Aid. The analyst Mishaboar is urging caution, reminding investors to only put in what they’re willing to lose. He’s having a hard time verifying the source of Musk’s comments amidst potential audio/video manipulation. Crypto is a wild roller coaster, and while the hype is real, the downside risk is too.

Nevertheless, Dogecoin’s recent performance has been nothing short of remarkable. Yet, as with any cryptocurrency investment, it is crucial to approach the market with a level head and a healthy dose of risk management. After all, the crypto space remains highly volatile and unpredictable, and even the most promising assets can experience dramatic swings in either direction.

Related Reading | Polygon (MATIC) Surges: Eyeing $1.34 Resistance for Continued Momentum

Dogecoin, 420, and X Army: Elon Musk’s Playful Tweeting

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In the vibrant realm of Elon Musk’s social media escapades, Dogecoin takes center stage as the tech billionaire ignites his Twitter with a playful nod to his favorite figure – “420.” Intimately tied to the original meme cryptocurrency, Dogecoin, Musk, the mastermind behind Tesla, X (formerly known as Twitter), and various major companies, seamlessly infuses humor into his tweets. The mere mention of “420” unfailingly sparks enthusiastic responses from his extensive following.

The recent ‘420 tweet’ from Musk holds a dual significance, resonating with the April 20th “weed day” and the proclaimed “Doge day” by Dogecoin enthusiasts. This humorous connection appears to bring joy to one of the world’s wealthiest entrepreneurs, who, as revealed in a 2020 tweet, was born “69 days after 420” on June 28. Musk finds humor in the number 69, another digit that frequently appears in his entertaining Twitter posts.

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Source: DogeDesigner

Notably, Musk has a history with the number “420,” overcoming the SEC in the “420 Tesla case” at the beginning of last year. The case, initiated in 2018, stemmed from Musk’s tweet claiming he would take Tesla private at $420 with secured funding. After a legal battle, Musk emerged victorious, and Ripple CTO even joined the jest, incorporating XRP into the congratulatory banter.

In Musk’s latest tweet, he playfully highlighted “420M mobile search results” related to the X social media platform, accompanied by a “face with tears of joy” emoji. A fraction of Musk’s colossal 170.8 million-strong “X army” swiftly caught on, responding with equally playful banter and support.

Neuralink Triumph: Dogecoin’s Technological Embrace

Amidst the Dogecoin and ‘420’ humor, Musk dropped a groundbreaking update earlier this week – the launch of Neuralink’s first product, “Telepathy.” The product, a microchip implanted in the human brain, enables users to control their computers and smartphones with their thoughts. According to Musk, this revolutionary technology extends to the control of various other devices. Musk proudly shared that the chip had already been successfully implanted in a patient, who was reportedly recovering well.

Elon Musk’s ability to seamlessly blend humor, technological innovation, and cryptocurrency banter continues to captivate and engage his massive following. Whether it’s the playful references to Dogecoin and ‘420’ or the groundbreaking developments in Neuralink, Musk’s Twitter feed remains a fascinating intersection of entertainment and cutting-edge technology.