Earlier in the week, Twitter CEO Elon Musk made the Dogecoin dog the logo photo of the Twitter site, after which the prank-themed cryptocurrency DOGE showed a strong uptrend.
Elon’s logo change on Monday evening and then shared dogecoin The themed humorous content caused the price to spike by as much as 36% to reach the $0.105 level.
DOGE, after the moves of the famous billionaire polygon, wither And lido 8th largest by market capitalization cryptocurrency became the unit.
Some investors, who were hopeful that the price found support at the old resistance level after the rise, expected Dogecoin to continue on its way, surpassing $0.105. However, a few hours ago, Twitter reinstated its logo accelerated the decline in DOGE.
DOGE has experienced an 8 percent decrease in the last 24 hours with the latest developments.
DOGE Analysis
Dogecoin, Elon Musk’s favorite meme token, continued its downward movement after losing the $0.094 resistance yesterday evening.
The most important support point for DOGE, which regressed to $0.08440 with Twitter’s last negative move, is 0.08440 and 0.083 dollars. If the market shows a bad trend, DOGE’s declines could continue to $0.0785.
Since the last rise in DOGE was with Elon Musk’s move, support and resistance points may not be considered too important at the moment. It is possible to see volatile movements in DOGE if Musk, who did not make a statement on Twitter’s reinstating its logo, makes different statements on the subject in the coming days.
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