Is Elon's Empire Crumbling?

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Dogecoin Is 'Harder Money' Than Bitcoin, Says Raoul Pal: Here's What The Numbers Say

Khyathi Dalal
November 25, 2024

Dogecoin (CRYPTO: DOGE) rallied 17% over the past week, spurred by speculation around Elon Musk's X Payments platform potentially incorporating DOGE.

CryptocurrencyPrice    Market Cap24-Hour Trend7-Day Trend
Dogecoin (CRYPTO: DOGE)$0.4254$62.5 Billion +2.3% +17%
Shiba Inu (CRYPTO: SHIB)$0.00002593  $15.3 Billion+2.7% +5.9%
Pepe (CRYPTO: PEPE)$0.0000202$8.5 Billion+1.5% -3.4%
Bitcoin (CRYPTO: BTC)$98,129.53$1.94 Trillion+0.7%+8.4%

Trader Notes: Macro guru Raoul Pal highlighted that Dogecoin has outperformed Bitcoin by surging 550% since its launch, calling it “harder money” in this context and predicting potential continued outperformance.

Crypto trader Tardigrade expects DOGE to retrace to $0.30 before potentially spiking to $3, drawing comparisons to similar cycles from 2018-2021 and 2021-2025.

Crypto trader Master Kenobi sees a positive broader trend for DOGE but the timeline could shift, potentially influenced by changes in Bitcoin dominance.

He added that the current market behavior resembles early January 2021 and if history repeats, volatility may follow, according to the trader. In the previous cycle, DOGE dropped 55% over two weeks, although such a drop isn’t guaranteed.

He suggests a conservative target of $1 to $1.45 and noted that a green close this week would mark the second-longest streak of green weeks in DOGE's history (6 weeks, the record being 8 weeks in 2017-2018).

Statistics: IntoTheBlock data shows large transaction volume increasing by 41.1% and daily active addresses falling by 34.9%.

Coinglass data shows liquidations at the lowest since Nov.2. Long liquidations stand at $3.74 million, short liquidations at $2.73 million. Open interest is at all time high levels of $3.95 billion.

Community News: Dogecoin spiked to $0.40 over the weekend after an Elon Musk tweet sparked speculations about the forthcoming X Payments service, which could potentially support transactions with digital assets like DOGE.

Read Next: 

  • Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation

Image: Shutterstock

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