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Biggest Movers: DOGE up 30%, Following Twitter Logo Change

News Feed - 2023-04-05 12:04:30

Biggest Movers: DOGE up 30%, Following Twitter Logo Change


Dogecoin continued to trade close to a four-month high on Tuesday, following a 30% price surge to start the week. The rally came after Twitter changed its logo from the traditional blue bird, to a cartoon picture of Doge. Shiba inu was also higher, as it moved to a multi-week high. Dogecoin (DOGE)


Dogecoin (DOGE) was one of today’s biggest gainers, as markets continued to react to Twitter’s logo change.


DOGE/USD raced to a high of $0.1026 late on Monday, following a low of $0.07663 earlier in the day.


As a result of this move, the meme coin rose to its strongest point since December 5, when it hit a peak of $0.1118. DOGE/USD – Daily Chart


Looking at the chart, Tuesday’s surge appears to coincide with the relative strength index (RSI) breaking out of a ceiling at 70.00.


At the time of writing, the index is tracking at 73.45, which is its highest reading since November.


Overall, dogecoin is up over 30% at the time of writing, and nearly 40% higher than at the same time last week. Shiba Inu (SHIB)


Another notable gainer on Tuesday was shiba inu (SHIB), which moved to a three-week high in the past several hours.


Following a low of $0.00001065 to start the week, SHIB/USD climbed to a peak of $0.00001157 yesterday evening.


This resulted in prices jumping by as much as 6%, hitting their highest level since March 14 in the process. SHIB/USD – Daily Chart


Similar to DOGE, the move seemingly took place following a breakout of a key resistance level of 55.00 on the RSI indicator.


Price strength is now tracking at 55.76, and appears to be heading towards a higher ceiling at 58.00.


Should it reach its apparent target, SHIB will likely move beyond March’s high of $0.00001184.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Doge, dogecoin, shib, shiba inu, Twitter


Do you expect dogecoin and shiba inu to extend this rally further into the week? Let us know your thoughts in the comments. Eliman Dambell


Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: ETH Hits 8-Month High, as BTC Nears Key Resistance Level MARKET UPDATES | 11 hours ago Biggest Movers: ADA Snaps Losing Streak as BCH Moves to 10-Day High MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses Next article‘Totally Irresponsible’ — Bitcoin Proponents Express Discontent Over Twitter’s Doge Logo Change Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


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