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Elon Musk Says Coinbase Should List Dogecoin

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Tesla CEO Elon Musk believes that soon-to-be-public Coinbase has to enable Dogecoin trading
Tesla CEO Elon Musk thinks that Coinbase, the largest U.S. exchange, should enable Dogecoin (DOGE) trading, according to his March 13 tweet.

The soon-to-be-public cryptocurrency exchange—whose valuation is estimated to be nearly $100 billion—was tapped by Tesla for carrying out its massive $1.5 billion Bitcoin purchase.

Coinbase balks at listing Dogecoin

The Shiba Inu-themed digital asset is the 15th largest cryptocurrency by market capitalization that is currently trading at $0.056.

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In early February, it soared to $0.088, piggybacking off the GameStop mania and Musk’s frequent tweets touting the joke coin.

Coinbase Wallet announced Dogecoin support back in May 2019, allowing users to simply store their tokens.

In spite of a flurry of excitement surrounding the meme cryptocurrency, Coinbase has so far abstained from letting retail investors trade DOGE. Yet, it recently listed the likes of SushiSwap (SUSHI) and Polygon (MATIC). This, of course, doesn’t sit well with the indignant community.

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The DOGE/USDT pair on Binance accounts for 8.17 percent of Dogecoin’s trading volume, according to CoinMarketCap data.

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Image by coinmarketcap.comDOGE is also available for trading on Hobi, Kraken, Bittrex, and some other exchanges.

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Dogecoin price to explode 50% as Shiba Inu profits head to DOGE

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  • Dogecoin price is traversing a rising wedge formation, suggesting a short-term correction on the horizon.
  • A breakdown of the lower trend line is likely to result in a retest of the $0.235 support floor.
  • A bounce from this barrier will likely propel DOGE by 50% to the range high at $0.352.

Dogecoin price has been on an uptrend for roughly a month, but the ascent seems to have evolved to a pattern that hints at a correction. Therefore, investors need to be aware of a short-term pullback for DOGE, which eventually results in a 50% climb.

Dogecoin price prepares for massive uptrend

Dogecoin price created three higher lows and two higher highs as it rallied 44% from September 29. Connecting trend lines with these swing points reveals the formation of a rising wedge. This technical formation forecasts a 19% descent to $0.207, obtained by adding the distance between the first swing high and swing low and adding it to the breakout point at $0.256.

However, investors can expect Dogecoin price to stabilize around the $0.236 support floor. The profits from the meme coin investors are eventually going to cycle to other dog-themed cryptocurrencies, out of which Dogecoin is a strong contender. Therefore, a potential spike in buying pressure around this barrier will likely trigger an uptrend for DOGE.

If this run-up manages to climb past the 50% Fibonacci retracement level at $0.273, it will confirm the start of a bull rally. In such a case, Dogecoin price will retest the $0.30 barrier followed by the range high at $0.352.

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This ascent from $0.236 to $0.352 will constitute a 50% move.

DOGE/USDT 1-day chart

DOGE/USDT 1-day chart

While things are looking dull for the meme coin, a breakdown of $0.236 will indicate weakness among buyers. If the resulting retracement falls below $0.225, the bullish thesis will face invalidation as it would create a lower low.

In this situation, Dogecoin price will retest the intended target at $0.207 and, in a bearish case, the range low at $0.194.

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SHIB

Is Elon Musk a Shiba Inu Holder? Tesla CEO Says He Owns These Three Crypto Assets

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Tesla CEO and tech mogul Elon Musk says he owns only three crypto assets.

Earlier this month, Tesla CEO Elon Musk tweeted a photo of his Shiba Inu puppy, which sparked speculation about his support for the surging Ethereum-based memecoin. However, when a Twitter user quizzed Musk about his SHIB holdings on Sunday, Musk said he doesn’t own any of the Dogecoin (DOGE) competitor.

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SHIB is trading at $0.00004275, up a staggering 49,268,197.7% in the past year, according to CoinGecko. Despite Musk’s revelation, Shiba Inu is up more than 14% in the past 24 hours.

Musk also revealed he still holds the same three crypto assets that he said he owned in July.

“Out of curiosity, I acquired some ASCII hash strings called ‘Bitcoin, Ethereum and DOGE.’ That’s it.

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As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form.”

The Tesla chief executive also elaborated on why he’s been so vocal about supporting Dogecoin (DOGE).

“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own DOGE. They aren’t financial experts or Silicon Valley technologists.

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That’s why I decided to support Doge – it felt like the people’s crypto.”

Musk is currently the wealthiest person in the world with a net worth of $255.2 billion, according to Forbes.

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Shiba Inu (SHIB) Reaches New All-Time High, Inching Closer to Surpassing Dogecoin

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With Shiba Inu’s market cap topping $19 billion, the meme coin flippening no longer appears to be a pipe dream for SHIB holders

Shiba Inu (SHIB) hit a new all-time high of $0.00004860 at 12:17 p.m. UTC on the Binance exchange.

SHIB
Image by tradingview.com

It is up by 19.2% over the past 24 hours, becoming one of the best-performing altcoins yet again, according to CoinMarketCap data.

With a market cap of $19 billion, it is currently the 11th biggest cryptocurrency overall.

Dogecoin, which is only up by a modest 2.26%, is in 9th place, followed by USD Coin (USDC)

Shiba Inu remains the most-traded cryptocurrency on Coinbase, nearly doubling Bitcoin’s volume.

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The crypto king is currently in the red after failing to gain footing above the pivotal $63,000 level.

Over the past week, Shiba Inu, an arcane canine token, has gained widespread press coverage, with CNN being among the mainstream outlets that reported on the cryptocurrency’s eye-watering gains.

The token is up by a stunning 571% this month alone.

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