The Dog Can Fly

Charles Hoskinson seeks to make ADA a part of Elon Musk-owned Twitter, along with the popular meme token Dogecoin (DOGE). Now that Musk has finalized his $44B Twitter takeover, the Cardano founder is convinced that the social media platform will soon adopt DOGE — as the Tesla billionaire has alluded to on multiple occasions.

Musk Could Pump DOGE To The Moon

Musk has been a long-time backer of dogecoin, although he is being sued for a whopping $258 billion by DOGE investors for allegedly conducting a pyramid scheme with the coin. The eccentric Tesla chief has driven Dogecoin’s success over the past several months with endless tweets and assertions of working with the coin’s developers to help it get ahead of bitcoin.

But look at the chart ↓

DOGEUSDT

The rise in the price of the token is accompanied by abnormally high volumes. At the same time, the growth slows down and stops. This price action indicates that there is a significant amount of supply for sale on the market.

Perhaps the big money is busy opening short positions on the eve of a pullback, which may follow when the hype around buying Twitter dies down.

Be watchful not to fall prey to the big money. Share this post in socials