Memecoin Dogecoin's party seems to have come to an end, as just after Twitter restored its original Blue Bird logo, the price of Doge fell by 9%. As of the time of publication, the trading price of DOGE was $0
Memecoin Dogecoin's party seems to have come to an end, as just after Twitter restored its original Blue Bird logo, the price of Doge fell by 9%. As of the time of publication, the trading price of DOGE was $0.085, with a market value of $11.8 billion.
Earlier this Monday, Twitter owner and billionaire Elon Musk changed Twitter's logo to Shiba Inu's "emoticon pack". This is enough to create a huge sense of happiness within the Dogecoin community, pushing the price of Doge all the way up to 10 cents.
We all know that Elon Musk has always been a passionate supporter of dog coins. When explaining his actions, he said that changing the logo was only to comply with his earlier promise in a conversation with a Twitter user.
The Dogcoin community has high hopes for Elon Musk and hopes that he can make DOGE the currency of Twitter in the future. However, this may also mean attracting regulatory scrutiny, and no one can determine how Musk will achieve this.
Whale approaching Ilon Musk dumping dog coins (DOGE)?
With prices soaring by over 30% within a day, the social quantity of DOGE has significantly increased. Two days ago, popular cryptocurrency analyst Ali Martinez had warned of a possible pullback.
On chain data provider Santiment shared some interesting insights behind this week's price increase in DOGE. Santimen explained how the Dogcoin Whale approached Elon Musk and cashed in on the price pump of Dogcoin.
Santimand explained that there are many signs that top investors are getting rid of this asset while earning huge profits. It explains how the three main indicators skyrocketed simultaneously.
Active adrenal gland and circulation.
Trading volume and trading volume.
Whale trading.
Santiment's report adds: "When these three indicators soar simultaneously during a decoupling surge independent of other markets, this is a fairly reliable bet, almost always forming a local top here, and profit taking itself is a wise decision
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