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Author Topic: Even Elon Musk can't save Dogecoin from crashing another 60%, analyst asserts  (Read 12069 times)

Offline Centus

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The meme cryptocurrency has crashed by over 60% from its May 8 peak and one analyst believes it has another 60% deeper to go.
If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure.

For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a "Head and Shoulder" pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two.

Durden flashed the Head and Shoulder-like pattern to predict a 67% price crash in the Dogecoin market.
Source: https://cointelegraph.com/news/even-elon-musk-can-t-save-dogecoin-from-crashing-another-60-analyst-asserts
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Offline kent47400

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Elon Musk is also human and Elon Musk is also still as usual only eating rice and not eating stones, so Elon Musk will not escape mistakes and of course Elon Musk is also very open to everyone to crytpocrurrency.
Elon Musk will not be able to manipulate the price of the DOGE coin because DOGE is a decentralized coin and everyone can determine the price.
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Offline Proton

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Doge will definitely fall, like other coins, but right now Elon Musk is trying to pump the price again by actively posting tweets about Doge and Babydoge
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Offline Maynul96

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Bitcoin has $30000 usd from his previous price and we are know that how much usd was Bitcoin price, has a huge dumping of Bitcoin pprice and for this reason all Crypto market has Crashed. We know that Elon full support Dogecoin and for his supporting Doge already crossed 0.5+ on the past. But now how Elon can save doge from Crashing,  it is not possible, becouse of Bitcoin price.                       

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For Elon Musk, doge only a business and must have profit, without that just say ' no '. The problem is how doge can use the situation to help the project, they already have diamond why not use it?. Crypto project not depend one person and talk as universal instrument, find new technology and new investor to keep grow up.

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For the most part, not only does the price tag depend on Elon Musk, but also on the developers' news themselves.
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Offline satpol_PP

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For the most part, not only does the price tag depend on Elon Musk, but also on the developers' news themselves.

You're right, I think dev  team should have good strategy to improve their projects and support the coins.
Dogecoin Just depend on Elon musk tweet. It's not good coin.

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Offline Bobcrypto

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The meme cryptocurrency has crashed by over 60% from its May 8 peak and one analyst believes it has another 60% deeper to go.
If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure.

For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a "Head and Shoulder" pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two.

Durden flashed the Head and Shoulder-like pattern to predict a 67% price crash in the Dogecoin market.
Source: https://cointelegraph.com/news/even-elon-musk-can-t-save-dogecoin-from-crashing-another-60-analyst-asserts

Friend, one thing we may try to understand is that the crypto market is volitality, and this constant fluctuations is control by Bitcoin price movements. If the price of BTC maintain some stability for a good numbers of days, I think many altcoins will see a good price pump, though not all altcoins at the same period.
In addition, crypto predictions are not certain, it can't not be accurate. On crypto market movement, it thing can happen and nothing is very sure.

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Offline Freemind

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Unfortunately there are still many people who do not see things clearly... Elon Musk is not in Doge to save the puppy, he is in Doge to take advantage of his investors. Nobody can do anything for investors who bought at $0.73, and Elon Musk took advantage of precisely those investors, people who hope to see Doge at $1 or $5 as I have read on some sites will have to wait decades and their wish will probably never come true.
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Offline Bliznec

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Elon Musk knows what to download with his tweets. This, in my opinion, is the name of his pet (nickname), the pet that Musk loves so much. Everything that Elon Musk does not do takes on color: the creation of machines, cryptocurrencies, launching rockets into space. This is the genius of our time, there will be progress behind Elon Musk! Soon people will give up oil, gasoline and will not devastate the planet Earth. Doge cryptocurrency is the start!   

Offline Lukasz

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Its because the whole point of an ultra cheap tipping coin evaporated with the 100 x Pump just like Elon said if i send you 2 dogecoin will you send me 1 back, so when you think about it it costed 1 doge to send those 2 doge coins and if the receiver sends 1 doge coin he had 2 doge sent to him sebt one as promised and paid one in fees
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  Bitcoin 2.0 If Bitcoin was being
started over again, it would most
likely use the superior Ethereum
blockchain
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X10
 
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Based on
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Offline Oxumare

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great news.. Elon Musk has announced that Tesla products can now be purchased with Dogecoin.
While vehicles are not yet sold with Dogecoin, Dogecoin can be used for items such as accessories, electronic gadgets and gift items in the online store.

Offline Freemind

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great news.. Elon Musk has announced that Tesla products can now be purchased with Dogecoin.
While vehicles are not yet sold with Dogecoin, Dogecoin can be used for items such as accessories, electronic gadgets and gift items in the online store.

This is precisely what Elon Musk was looking for from the beginning. The plan was simple, declare that they will accept Bitcoin to buy their cars, deny it a few days later claiming that Bitcoin consumes a lot of energy, and start talking about Doge on Twitter. Now that Musk has accumulated enough millions of Doge coins, his company accepts Doge as a payment method. There are many blind people who can see, but still do not see anything, now we will see how far Doge goes and how big the next drop will be.
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Online msz900

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Big Whales like Elon, are the main reason to dump the whole crypto market, even they are not successfully achieving their target but impact the market very badly as small investor lose their assets.
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Offline Callisto

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I am sure that the collapse of the price, taking into account its speculation by Elon Musk, will continue to fall, we all see that the price tag of dogs does not rise after any Elon tweets associated with them, people no longer believe in it. I think soon the price tag will fall as you wrote by at least 60%

 

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