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Dogecoin (DOGE) Posts 35% Weekly Gains amid Musk Versus Apple Altercation

Dogecoin’s (DOGE) price performance has been heavily dependent on Elon Musk and the development of Twitter 2.0. This Wednesday, DOGE achieved its highest point in...
Dogecoin (DOGE) Posts 35% Weekly Gains amid Musk Versus Apple Altercation © Reuters. Dogecoin (DOGE) Posts 35% Weekly Gains amid Musk Versus Apple Altercation
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Dogecoin’s (DOGE) price performance has been heavily dependent on Elon Musk and the development of Twitter 2.0. This Wednesday, DOGE achieved its highest point in two weeks. The 8th ranked memecurrency restored its key resistance level of $0.10 and gained 35% over the last seven days.

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What Triggered the Boost for DOGE?

As most of the TOP 100 cryptocurrencies are still bouncing back from the drama caused by the sudden downfall of FTX, Alameda Research, and its founder Sam Bankman-Fried, double-digit gains in weekly terms had become a rare thing. However, the popularity of DOGE helps the canine coin overcome the obstacles with #Dogecoin and #DogecoinToTheMoon constantly trending on Twitter.

More importantly, the work on Twitter’s Crypto Wallet has resumed, which sparked bullish sentiment for DOGE. Firstly, Twitter Boss Elon Musk reinstated his love for the coin with his “Dogecoin to the moooon!” chant on the platform. A few days later, YouTuber David Gokhshtein posted a message saying that Musk is collaborating with Ethereum’s (ETH) founder Vitalik Buterin on Twitter 2.0.

Furthermore, heated discussions over Elon Musk’s Tesla (NASDAQ:TSLA) Smartphone had taken over Twitter. The idea was made known right after Apple (NASDAQ:AAPL) threatened Twitter and its CEO that it would delete the Twitter app from the App Store. Naturally, this has caused an immense backlash on the platform, with crypto enthusiasts bashing Apple’s greediness and keenness on censorship.

Will Dogecoin (DOGE) Maintain the Key Support Line?

At press time, Elon Musk’s and the DOGE Army’s cherished canine coin is changing hands at $0.105428, according to CoinGecko. Besides the substantial weekly growth of 35%, DOGE grew by another 3.2% in the last 24 hours. However, the question remains of when the popular memecoin can head for a breakout and get closer to the moon.

On the Flipside

  • Vitalik Buterin hasn’t confirmed his role in the Twitter Crypto Wallet development.
  • Elon Musk has been smacked with a $258 billion class-action lawsuit for building the DOGE Pyramid.

Why You Should Care

DOGE, the most popular memecurrency, has the potential to ignite a bull run for cryptocurrencies. This often was the case in 2021 and 2022, with both popular canine coins considerably moving up the crypto charts.

Find out the latest developments in memecoins:

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

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Summary

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Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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Moving Avg:

Buy (12)

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Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Moving Avg:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

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Silver Futures

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Copper Futures

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4,920.55

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Buy (4)

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Buy (1)

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S&P 500

5,035.69

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DAX

17,921.95

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FTSE 100

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Sell

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Hang Seng

17,763.03

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Moving Avg:

Buy (0)

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Buy (1)

Sell (6)

US Small Cap 2000

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IBEX 35

10,854.40

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BASF SE NA O.N.

49.155

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Bayer AG NA

27.35

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Sell (8)

Allianz SE VNA O.N.

266.60

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Sell (5)

Adidas AG

226.40

-5.90 (-2.54%)

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Buy (0)

Sell (12)

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Buy (2)

Sell (7)

Deutsche Lufthansa AG

6.714

-0.028 (-0.42%)

Summary

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Siemens AG Class N

175.90

-1.74 (-0.98%)

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Deutsche Bank AG

15.010

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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