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    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

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    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

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    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

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    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

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    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

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    What Is Ethereum 2.0 (The Merge)?

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    A Beginner’s Guide To Reversal Candlestick Patterns

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    Wash Trading: What Is It and How Does It Work?

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    Singapore’s changed stance on crypto

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    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

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    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

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    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

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    Cardano founder steals the show at Congressional hearing on crypto regulation

    Hoskinson pitches software-enabled crypto self-regulation to Congress

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    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

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  • Home
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  • NFT’s
    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

    OpenSea Tightens Security To Prevent NFT Scams And Fraud

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

    Is Bitcoin Like Buying Google Early? The Shocking Comparison

    Harmony's Cross-Chain Bridge Exploited for $100M

    Harmony’s Cross-Chain Bridge Exploited for $100M

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin

    Bitcoin Could Restart Increase If The Bulls Clear This Resistance

    Ethereum

    What Could Trigger Sharp Decline

    Bitcoin

    Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

    Ethereum

    Ethereum Tops Near $1,200, Why Dips Could Be Attractive

  • Learn About Crypto
    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

    What Is A Bull Flag Pattern and How to Use It

    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

    Wash Trading: What Is It and How Does It Work?

    Wash Trading: What Is It and How Does It Work?

  • Regulation
    Singapore’s changed stance on crypto

    Singapore’s changed stance on crypto

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    ‘Brutal and unrelentingly hard:’ Singapore regulator’s clampdown on crypto

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Cardano founder steals the show at Congressional hearing on crypto regulation

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Hoskinson pitches software-enabled crypto self-regulation to Congress

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

    Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

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Home Altcoins

Should DOGE owners rejoice about Musk’s Twitter offer being back on the table

April 25, 2022
in Altcoins
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Should DOGE owners rejoice about Musk's Twitter offer being back on the table
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A wise man once said – “With enough money on the table, every man will rethink his position.”

According to reports, Twitter Inc. has commenced discussions with Elon Musk to reconsider the billionaire’s $43 billion bid. Now, while that development will have many implications for social media, what about crypto? Specifically, what about Dogecoin? Especially since Dogecoin (DOGE) is notoriously sensitive to the billionaire’s actions.

With the takeover discussion underway, how has the meme-coin fared since the news broke and what should be expected in the coming weeks?

DOGE Comrades not impressed?

When news about Elon Musk’s bid was first reported, the memecoin’s price rallied on an uptrend. However, no significant impact was seen when the latest reports broke.

At the time of writing, DOGE was trading at $0.128, even after recording a high of $0.1325 several minutes after the news broke. In fact, the aforementioned price level represented a steep decline of 82% from its ATH of $0.7376 on 8 May 2021.

Similarly, DOGE registered a 3.88% decline in market capitalization over 24 hours. Remarkably, however, it also saw an 86% uptick in its trading volume over the same period.

On the 4-hour chart, the 50 EMA showed the trendline sitting comfortably above the price, suggestive of a bearish run. This was confirmed by the RSI which maintained the 23.81-level almost deep inside the oversold region. The Money Flow Index (MFI) toed a similar direction – A sign of massive ongoing distribution.

Furthermore, a falling wedge indicative of a bullish overture could be seen. This wedge, similar to the one seen by the memecoin in February and March, might be followed by a rally.

Source: TradingView

What do we see On-Chain?

At the time of writing, Whale Transaction Count for transactions greater than $100K stood at 24. On the other hand, the Whale Transaction Count for transactions greater than $1M was just 1.

Source: Santiment

The number of Active Addresses involved in DOGE Transactions on an hourly basis was 15.1k. This represented a 89% decline from 136k active addresses 24 hours ago.

Source: Santiment

Transaction volume also appeared to have dropped. With a figure of 527.9M at press time, it represented an over 70% decline from levels of 1.84B recorded yesterday.

Source: Santiment

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