Skip to main content

Biggest Movers: DOGE, SHIB Surge as Elon Musk Tweets Dog CEO Pictures

Dogecoin rallied on Feb. 15, as Elon Musk tweeted a picture of a Shiba Inu dog, with the caption: “The new CEO of Twitter is amazing.” Following this tweet, both dogecoin and shiba inu surged, extending recent gains. Overall, the global cryptocurrency market cap is 2.42% higher as of writing.

Dogecoin (DOGE)

Dogecoin (DOGE) rose by as much as 6% on Wednesday, as markets reacted to tweets from Tesla CEO Elon Musk.

DOGE/USD surged to an intraday high of $0.08707 earlier in today’s session, which comes a day after trading at a bottom of $0.08141.

Today’s move saw the meme coin climb for a second straight session, breaking out of a resistance level at $0.0840 in the process.

Upside momentum comes as the 14-day relative strength index (RSI) surged, and as of writing it is tracking at 50.81

Price strength has now risen to its highest point in nearly a week, and is fast approaching a ceiling at 52.00.

As a result of this, earlier gains have somewhat eased, with dogecoin now trading at $0.08656.

Shiba Inu (SHIB)

Shiba inu (SHIB) also rose for a second consecutive day, breaking out of a resistance level of its own.

Following a low of $0.00001222 on Tuesday, SHIB/USD raced to an intraday high of $0.00001313 earlier in the day.

Like with dogecoin, today’s rally saw the meme coin race past a ceiling at $0.00001285, climbing by nearly 6% in the process.

As can be seen from the chart, there was also a breakout on the RSI indicator, which moved beyond a ceiling at 55.00

Currently, the index is tracking at 56.95, with the nearest point of resistance at the 61.00 mark.

There is a chance that early bulls will opt to take profit close to this point, as overall market sentiment remains partially bearish.

Register your email here to get weekly price analysis updates sent to your inbox:

Could meme coins continue to rally as the week progresses? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/tbGXPad
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more