- Twitter released a coin feature, excluding DOGE.
- Twitter could launch in-app coins.
- Coin creator made a comment, influencing prices.
The rumors about Elon Musk launching his own Twitter coin were long swirling. The biggest fan of DOGE, might leave the coin to bring out his own in-app coin. This means that it can possibly put DOGE on the sidelines or even abandon it. Many users have leaked the Twitter interface about the “Coin” feature and its rewarding system.
Dogecoin has suffered several setbacks in the past weeks. The CEO of Twitter and biggest fan of the meme coin has refrained from openly expressing his affection to the dog-coin. The community was disappointed many times recently, when Twitter announced it’s stepping down from its plan to launch a crypto wallet for now. Then again, when Twitter launched a new feature for Bitcoin and Ethereum price charts, DOGE was not taken into account.
Meanwhile, Billy Markus, the creator of the meme coin takes Twitter to comment on current crypto prices and having to pay taxes on crypto and NFTs. His tweet mentioned about him having to sell “a bunch of ETH” in order to pay taxes. This may nullify the negative sentiments, and make prices soar higher.
i sold a bunch of eth at $1190 so i could pay 2022 taxes
so everyone, you’re welcome for this rally
— Shibetoshi Nakamoto (@BillyM2k) January 12, 2023
The pictorial
The DOGE prices have formed a pennant formation with current price of $0.080 near the resistance trend line. The 100 and 50 EMA float above the prices. The trading volume shows a range bound interaction, with recent volume being buyer dominated. The OBV marks an uptick with upsloping prices. If current prices can sustain above $0.083, a bullish breakout may occur with a rally reaching $0.151.
The market witnesses buyers entering the market. The CMF indicator rises above the baseline to mark the initiation of the bull run. The MACD records a few buyers participating in the market as the lines diverge for the bulls. The RSI escalates to the buyer-ruled zone by piercing the half line.
A smaller window
The smaller time frame suggests prices to surge steadily. The CMF bounces in the positive zone to mark the ongoing bullish swing. The MACD records buyers and sellers both interacting in the market. The RSI moves within the bounds of 50-70, and remains buyer influenced. The collective study suggests a market is on a steady surge.
Conclusion
The market movement shows the DOGE community misses Musk and is hoping for some hype from the Twitter CEO. The market may hit the bull’s eye in sometime, if prices can break the $0.083 level.
Technical levels
Support levels: $0.05 and $0.04
Resistance levels: $0.13 and $0.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/13/musk-remains-hushed-on-doge-prices-get-the-silent-treatment/