DOGEUSDT (Dogecoin) - Coin of the Week
Turkish media reports that authorities there are investigating an alleged Dogecoin (DOGE) mining scam that pulled the rug on investors after amassing $119 million worth of deposits. A Monday report from local channel TV100 broke the news, with police identifying pseudonymous online avatar “Turgut V.” as the scheme’s suspected operator. Authorities believe that Turgut and 11 associates managed to gather close to 350 million Dogecoin, valued at $119 million, before disappearing.
Three Arrows Capital CEO Su Zhu has outlined a bullish thesis for Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). Speaking on Wednesday’s episode of The Game Theory of Crypto podcast, Zhu stated that he’s keen on DOGE because the meme coin has captured more interest from “blue-collar” traders than any other crypto on the market.
Technically, Dogecoin is making a correction in this area before continuing to the upside (higher probability move). We see 2 possible scenarios developing here. One, the price continues higher from here breaking the red trendline and continuing its way up. Two, the price goes to the red trendline, makes another leg down before resuming the uptrend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Three Arrows Capital CEO Su Zhu has outlined a bullish thesis for Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). Speaking on Wednesday’s episode of The Game Theory of Crypto podcast, Zhu stated that he’s keen on DOGE because the meme coin has captured more interest from “blue-collar” traders than any other crypto on the market.
Technically, Dogecoin is making a correction in this area before continuing to the upside (higher probability move). We see 2 possible scenarios developing here. One, the price continues higher from here breaking the red trendline and continuing its way up. Two, the price goes to the red trendline, makes another leg down before resuming the uptrend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
