Dogecoin (DOGE) News: Dogecoin whales are accumulating the memecoin as it takes a trajectory of fluctuation ahead of the Tesla Q4 earnings release. It may be recalled that during the second quarter earnings call, Elon Musk said Tesla did not sell any of the DOGE holdings. The automaker is owning Dogecoin with the sale of Tesla merchandise as it accepts payments in DOGE. Meanwhile, it remains to be seen how the cryptocurrency will react to the earnings report.
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Tesla Quarterly Earnings
The fourth quarter earnings are set to be released in context of three consecutive instances where the company missed targets. Also, the electric carmaker announced price cuts for Chinese customers in October 2022. Even if Tesla goes on to announce positive momentum in terms of car sales, it remains to be seen if the figures would trigger TSLA share price rise. In this context, the DOGE price could also be up for significant reaction to the earnings report.
As of writing, the DOGE price stands at $0.08485, down 4.65% in the last 24 hours, according to CoinGape price tracker. The meme cryptocurrency is currently ranked 9th based on total market cap at $11.20 billion. In addition to this, technical indicators are also pointing towards a potential price rise. A breakout from the $0.09 resistance range could well mean a DOGE price rise as much as 22%. Whether the Tesla earnings could lead to the breakout remains to be seen.
Also Read: Bitcoin Drops for the Second Consecutive Day in 2023, Is The Party Over?
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Source: https://coingape.com/dogecoin-doge-rally-tesla-quarterly-earnings/