Despite the recent uncertainties caused by the FTX fiasco, DogeCoin (DOGE) price has been stable over the past few days – with its value surging significantly by about 10% for the past day.
One of many major causes for this is Elon Musk’s recent announcement that he would make an alternative phone if twitter were to be removed from both iPhone and Android app stores.
Liz Wheeler, a podcaster, tweeted her concern that Twitter may be subject to a play store ban due to Elon’s new policy, to which Musk responded that “I certainly hope it does not come to that,” but if it happens, he will “make an alternative phone.”
Wheeler said:
If Apple & Google boot Twitter from their app stores, Elon Musk should produce his own smartphone. Half the country would happily ditch the biased, snooping iPhone & Android. The man builds rockets to Mars, a silly little smartphone should be easy, right?
Meanwhile, the Economic Times reported that Twitter Inc.’s new Verified services would go live next Friday, according to Elon Musk, following a string of delays and issues related to fraudulent accounts.
To prevent a growing issue of people mimicking well-known brands, Twitter has already stopped the $8 subscription program. Twitter Verified is Musk’s attempt to separate distinct user groups and generate much-needed income.
The report stated that in order to prevent companies against accounts with blue check marks from altering their identity and image to that of a brand, companies will now receive a gold check mark.
Dogecoin (DOGE) Price Surge
The market has been slowed by the FTX debacle and other prominent investors, but Elon Musk and his favorite cryptocurrency Dogecoin (DOGE), are not lagging behind.
According to CoinMarketcap’s data, the token is currently trading at $0.09186, with almost an 11% increase in the previous seven days. The token market cap has risen by approximately 4.00% during the past day, while its trading volume has increased by about 35%.
Dogecoin DOGE rebounded to $0.090 from the $0.077 support level of November 21st, signaling that the bulls are attempting to create a new higher above this price. However, at $0.090, where the relief rally is now, the bulls are confronted with strong bear opposition.
Since the end of November, the strength of purchasers has significantly increased for Dogecoin. The apparent breakthrough above a short-term barrier suggests that this trend may continue.
On Tuesday, November 25th, the Dogecoin price pushed past its previous high to $0.0861 after more than two weeks of attempted breakouts on November 24th, when there was a spike in trading volume that may signal renewed buying pressure.
Nevertheless, for Dogecoin’s price to rise significantly, it must break through and hold above $0.095. The price may finally drop below $0.070 in the event of a bearish reversal, where it may experience several rejections.
Related Reading | Shiba Inu Burn Rate Rises: Battles To Win Back Confidence After FTX Crash
