{"id":489112,"date":"2022-04-28T14:00:40","date_gmt":"2022-04-28T14:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=489112"},"modified":"2022-04-28T11:26:50","modified_gmt":"2022-04-28T11:26:50","slug":"dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/","title":{"rendered":"Dogecoin Plummets As Investors&#8217; Doubts After Musk Twitter Takeover Unfold"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Investors are raising concerns about Elon Musk\u2019s acquisition of Twitter. After soaring to a multi-week high price, the Dogecoin has crashed by 20% and is trading at $0.1381 with a total market cap of around $18 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In an announcement on Monday, Twitter agreed to be acquired by Tesla and SpaceX CEO Elon Musk for $54 per share. This would give the company a value of more than $44 billion.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/dogecoin-doge-struggles-drops-9\/\">Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout<\/a><\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400\">Many people thought that Musk buying Twitter would help boost Dogecoin\u2019s momentum. For 24 hours, it seemed as though they were right until the excitement and interest quickly dissipated from all sides.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Traders lost $281 million worth of \u201clongs\u201d to liquidation in the past 24 hours. Overall the total liquidation amount reached <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">$350 million<\/a>. This is the third-largest level in the month of April. Of that amount, about one-third ($128 million) came from bitcoin-tracked futures. While $92 million arose from ether futures. Futures tracking dogecoin lost $24 million, similar to Tuesday\u2019s loss.<\/span><\/p>\n<h2>Doubts On Musk&#8217;s Twitter Acquisition<\/h2>\n<p><span style=\"font-weight: 400\">Some Twitter shareholders are concerned that the acquisition may not go through. For instance, their price per share is trading at $49, lower than offered ($54). In addition, the company currently has a market value of about $37 billion &#8211; $6 billion less than when this deal first began.<\/span><\/p>\n<figure id=\"attachment_489114\" aria-describedby=\"caption-attachment-489114\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-489114 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/DOGEUSD_2022-04-28_02-52-26.png?resize=860%2C506\" alt=\"DOGE price chart\" width=\"860\" height=\"506\"><figcaption id=\"caption-attachment-489114\" class=\"wp-caption-text\">DOGE is currently trading at $0.138, losing its yesterday gain | Source: BTC\/USD chart from <a href=\"https:\/\/www.tradingview.com\" target=\"_blank\" rel=\"noopener nofollow\">Tradingview.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The acquisition of Twitter by Tesla may have unforeseen consequences for the company, particularly its impact on Elon Musk. Many believe he will exit this deal by paying a $1 billion breakup fee.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">China is the biggest market for Tesla, and the company has a large plant over there. So there\u2019s a chance that if Musk tweets something unfavorable about China, the country can punish him. China has strict laws against free speech, and anyone who breaks them risks being penalized by law enforcement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The fear that Musk will not buy Twitter has caused the Dogecoin price to crash. However, it&#8217;s believed most investors think if this acquisition closes, it&#8217;ll be good news for DOGE because he vows to add them as a payment option.\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/news\/bitcoin\/institutional-investors-bearish-on-bitcoin-ethereum-heres-what-theyre-buying\/\" target=\"_blank\" rel=\"noopener \">Institutional Investors Bearish On Bitcoin, Ethereum. Here\u2019s What They\u2019re Buying<\/a><\/strong><\/em><\/p>\n<h2>Dogecoin Price Prediction<\/h2>\n<p><span style=\"font-weight: 400\">The graph shows that the price of DOGE has been slowly dropping since it hit a high of $0.1725. This is called a double-top pattern.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A double-top is usually a sign that the price will go down. The DOGE coin is now close to the 25-day and 50-day moving averages. In addition, the Stochastic Oscillator has moved above the oversold level. It means that the price will probably keep going down. The next key support level is $0.1100. If the price goes above $0.15, this will invalidate the bearish view.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<pre>                Featured image from Pixabay and chart from Tradingview.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Investors are raising concerns about Elon Musk\u2019s acquisition of Twitter. After soaring to a multi-week high price, the Dogecoin has crashed by 20% and is trading at $0.1381 with a total market cap of around $18 billion. In an announcement on Monday, Twitter agreed to be acquired by Tesla and SpaceX CEO Elon Musk for $54 per share. This would give the company a value of more than $44 billion. Related Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Many people thought that Musk buying Twitter would help boost Dogecoin\u2019s momentum. For 24 hours, it seemed as though they were right until the excitement and interest quickly dissipated from all sides. Traders lost $281 million worth of \u201clongs\u201d to liquidation in the past 24 hours. Overall the total liquidation amount reached $350 million. This is the third-largest level in the month of April. Of that amount, about one-third ($128 million) came from bitcoin-tracked futures. While $92 million arose from ether futures. Futures tracking dogecoin lost $24 million, similar to Tuesday\u2019s loss. Doubts On Musk&#8217;s Twitter Acquisition Some Twitter shareholders are concerned that the acquisition may not go through. For instance, their price per share is trading at $49, lower than offered ($54). In addition, the company currently has a market value of about $37 billion &#8211; $6 billion less than when this deal first began. The acquisition of Twitter by Tesla may have unforeseen consequences for the company, particularly its impact on Elon Musk. Many believe he will exit this deal by paying a $1 billion breakup fee.\u00a0 China is the biggest market for Tesla, and the company has a large plant over there. So there\u2019s a chance that if Musk tweets something unfavorable about China, the country can punish him. China has strict laws against free speech, and anyone who breaks them risks being penalized by law enforcement. The fear that Musk will not buy Twitter has caused the Dogecoin price to crash. However, it&#8217;s believed most investors think if this acquisition closes, it&#8217;ll be good news for DOGE because he vows to add them as a payment option.\u00a0 Related Reading | Institutional Investors Bearish On Bitcoin, Ethereum. Here\u2019s What They\u2019re Buying Dogecoin Price Prediction The graph shows that the price of DOGE has been slowly dropping since it hit a high of $0.1725. This is called a double-top pattern. A double-top is usually a sign that the price will go down. The DOGE coin is now close to the 25-day and 50-day moving averages. In addition, the Stochastic Oscillator has moved above the oversold level. It means that the price will probably keep going down. The next key support level is $0.1100. If the price goes above $0.15, this will invalidate the bearish view.\u00a0 &nbsp; Featured image from Pixabay and chart from Tradingview.com<\/p>\n","protected":false},"author":563,"featured_media":489116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1558,1785,7,8375,85849],"class_list":["post-489112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-cryptocurrency","tag-doge","tag-dogecoin","tag-elon-musk","tag-twitter-acquisition"],"acf":[],"yoast_head":"\n<title>Dogecoin Plummets As Investors&#039; Doubts After Musk Twitter Takeover Unfold<\/title>\n<meta name=\"description\" content=\"Doubts on Musk&#039;s Twitter acquisition caused Dogecoin crash by 20%. 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It is trading at $0.1381 with a total market cap of around $18 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-28T14:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-28T11:26:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/DOGE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1097\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Naveed Iqbal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Naveed Iqbal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/\"},\"author\":{\"name\":\"Naveed Iqbal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a0e4f5f6e5e26b2f89fa02a3c05efba5\"},\"headline\":\"Dogecoin Plummets As Investors&#8217; Doubts After Musk Twitter Takeover Unfold\",\"datePublished\":\"2022-04-28T14:00:40+00:00\",\"dateModified\":\"2022-04-28T11:26:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/\"},\"wordCount\":480,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/DOGE.jpg?fit=1920%2C1097\",\"keywords\":[\"cryptocurrency\",\"doge\",\"Dogecoin\",\"elon musk\",\"Twitter Acquisition\"],\"articleSection\":[\"Dogecoin\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/\",\"url\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/\",\"name\":\"Dogecoin Plummets As Investors' Doubts After Musk Twitter Takeover Unfold\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-plummets-as-investors-doubts-after-musk-twitter-takeover-unfold\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/DOGE.jpg?fit=1920%2C1097\",\"datePublished\":\"2022-04-28T14:00:40+00:00\",\"dateModified\":\"2022-04-28T11:26:50+00:00\",\"description\":\"Doubts on Musk's Twitter acquisition caused Dogecoin crash by 20%. 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