💘DOGE, ELON and TWITTER relationships in 1 idea!
🔥On the rumors and after the news of the 🐦Twitter ( TWTR ) purchase, Dogecoin🐶 jumped by 37%. Dogecoin has a long relationship with Elon. Back in 2021, the entrepreneur started pamping this altcoin, after which Dogecoin grew by X200. So what do meme coin and the richest man in the world have in common?
🔎If you check the DOGE wallets, you will see that 50% of the TOTAL supply is owned by the top 14 wallets. It is a centralized coin and it is these wallets that sell their coins during the PUMPS. During the PAMPS by Elon Musk!
I don’t know if Elon helps the owners of these wallets or if they have a secret relationships, but Musk is doing them a great service.
🎓You can’t sell something if no one buys it. Liquidity is a measure of how many people want to buy or sell cryptocurrency. If the market has low liquidity, then you can’t sell a large amount of crypto. Very often big players face this problem (>$10-100M), but retailers can buy for $1000, $10000 or $100000 and the price won’t even change. But if the asset has low liquidity, the price will go up very fast during a PUMP or fall quickly during a DUMP. Elon by tweets provides liquidity to sell for these wallets.💥Immediately a large number of people want to buy, and if you look at the traded volumes, you will see that someone sold out very well.
⚖Balance changes of top Dogicoin wallets in the last 7 days:
#1 -746M = $104,4M
#2 +611M
#3 -287M
#5 +360M
#6 -253M
#20 -203M
We can see the negative delta (BUY-SELL) of DOGE and these tweets are not on the HYPE, but when the price is only going up just by +37%! Can you imagine the sellout when DOGE was pumping by 20,000% in 2021?
📊Technical Analysis (TA). The price rebounded from the $0.122-0.125 support zone . Now it has successfully tested the trend line several times and has started to consolidate in the big value area of $0.139-0.147. If the support holds, then at least Doge will continue to consolidate, and at most it will continue to rise to local highs $0,17-0,18.
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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
