Značka: doge

Dogecoin leaps 25% after Musk announces DOGE payments for Tesla merch

Dogecoin (DOGE) prices rose substantially on Jan. 14 as Elon Musk announced that Tesla would start accepting it as payment for merchandise. Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022After the announcement, DOGE price jumped nearly 13%, hitting a 30-day high of $0.2150. Its upside move came as a part of a larger intraday rally that already was taking place before Musk’s Dogecoin tweet went viral. The DOGE price went up by over 25% on Jan. 14 before correcting lower to $0.1986 on profit-taking.DOGE/USD hourly price chart. Source: TradingViewBetter than BitcoinTesla’s integration of a DOGE payment option on its online shopping portal came almost a month after Musk shared his willingness to accept the cryptocurrency as payment on a test basis.At the center stage of Musk’s love for DOGE was its “better-than-Bitcoin” features, primarily as a payment option due to its lower electricity consumption. In excerpts from Musk’s statements to Time Magazine, he explained that:”Fundamentally, Bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, Dogecoin is better suited for transactions.”The billionaire entrepreneur further stressed that Bitcoin’s cost per transaction is high while its transactional volume is low compared to DOGE. As a result, Bitcoin could be well off being a store-of-value asset. On the other hand, DOGE could keep on encouraging people to spend.What’s next for DOGE?The latest round of buying in the Dogecoin market somewhat subsided as DOGE tested a multi-month resistance trendline for a topside breakout.In detail, DOGE price rally was rammed into a descending trendline resistance that had been capping its upside attempts since May 2021. On Jan. 14, the trendline again became instrumental in sending DOGE from its intraday top of $0.2150 to $0.1958, as shown in the chart below.DOGE/USD daily price chart. Source: TradingViewMeanwhile, the Dogecoin’s 200-day exponential moving average (200-day EMA; the orange wave) also played a key role in limiting its gains on Jan. 14. Together, the resistance confluence hinted that DOGE price may pull back from its ongoing uptrend in the coming sessions. Related: Dogecoin creator slams Mozilla for pausing crypto donationsShould this happen, the token will look poised to test its 50-day EMA (the velvet wave) as support, with the possibility to extend its correction towards $0.1367 due to its recent history as support.DOGE/USD daily price chart. Source: TradingViewConversely, a decisive breakout above the descending trendline resistance and the 200-day EMA could have traders eye $0.30 as their next upside target in the Dogecoin market. The area surrounding the $0.30-level had earlier served as resistance.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Tesla launches Dogecoin payments for merch but there is a catch

Tesla CEO Elon Musk announced that Tesla now accepts Dogecoin (DOGE) as payment for the company’s merchandise. DOGE-eligible products in the Tesla store can be purchased by sending DOGE to Tesla’s Dogecoin wallet. While it’s accepting DOGE, the firm also clarified that they are not taking any other crypto. The company states that it cannot detect other assets but DOGE on its website. The business tells customers that “non-Dogecoin digital assets sent to Tesla will not be returned to the purchaser.”Additionally, items purchased with DOGE “cannot be returned, exchanged or canceled.” Tesla considers all sales made through DOGE as final that cannot be exchanged for cash. Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022Dogecoin creator Billy Markus instantly replied to the announcement, rallying the Dogecoin community. “Alright Dogecoin community, you know what to do,” Markus tweeted.The community is quick to respond. Some tweeted that they already purchased items using DOGE. Only minutes after the announcement, Twitter user Dogecoin_GER already posted a screenshot of his order online saying “Tesla Tequila on the way to Germany!”Related: Dogecoin creator slams Mozilla for pausing crypto donationsA month ago, Tesla confirmed that they will start accepting DOGE for merch. The announcement resulted in a 25% price increase for the meme coin at the time. Today, just a few hours after implementing DOGE payments, the asset’s price shows an 18.63% gain. Back in December, the billionaire expressed his thoughts about DOGE comparing it to Bitcoin. According to Musk, “even though it was created as a silly joke, Dogecoin is better suited for transactions.” He stated that DOGE is slightly inflationary, and this encourages people to spend it rather than using it as a store of value. Meanwhile, Tesla may not be the only company to start implementing crypto payments this year. A survey conducted by Visa shows that small and mid-sized firms are also set to adopt crypto payments in 2022. 

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Price analysis 1/7: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE

Bitcoin (BTC) and the U.S. equity markets fell sharply on Jan. 5, reacting negatively to the minutes from the Federal Reserve’s December FOMC meeting, which showed that the members expect the balance sheet reduction to start after the Fed begins hiking interest rates in early 2022.Adding to the negative sentiment was the shutdown of the world’s second-biggest Bitcoin mining hub in Kazakhstan, where the internet has been shut down following massive protests by citizens. This caused a dip of about 13.4% in the Bitcoin network’s overall hash rate from 205,000 petahash per second (PH/s) to 177,330 PH/s.Daily cryptocurrency market performance. Source: Coin360According to Galaxy Digital Holdings CEO Mike Novogratz, the current decline was with low volumes and he believes that the markets will be volatile in the next few days. Novogratz suggests that a huge amount of “institutional demand” was waiting on the sidelines and he expects Bitcoin to bottom out in the $38,000 to $40,000 zone.Could Bitcoin and major altcoins continue to face selling or will they bounce off strong support levels? Let’s study the charts of the top 10 cryptocurrencies to find out.BTC/USDTThe range-bound action in Bitcoin resolved to the downside on Jan. 5 when bears pulled the price below the strong support at $45,456. This suggests that supply exceeds demand.BTC/USDT daily chart. Source: TradingViewThere was a meek attempt to defend the $42,500 support on Jan. 6 but sustained selling has pulled the price close to the next support at $39,600. This leg down has invalidated the positive divergence that was forming on the relative strength index (RSI). The downsloping moving averages and the RSI near the oversold zone suggest that bears are in control. If bears sink and sustain the price below $39,600, the BTC/USDT pair could nosedive to $30,000.On the contrary, if the price rebounds off $39,600, the bulls will again try to push the pair above the 20-day exponential moving average (EMA) ($46,811). Such a move will be the first indication that the downtrend could be ending.The bullish momentum could pick up on a break and close above the 50-day simple moving average (SMA) ($50,610).ETH/USDTEther (ETH) turned down from the 20-day EMA ($3,756) on Jan. 5 and plunged below the Dec. 4 intraday low at $3,503.68. This suggests that bears have reasserted their supremacy. ETH/USDT daily chart. Source: TradingViewThe downsloping moving averages and the RSI in the oversold zone suggest that bears are in command. If bears sustain the price below $3,250, the decline could extend to the support line of the channel.The bulls will attempt to defend this level and push the price to the resistance line of the channel. A break and close above the channel will signal a change in trend.Alternatively, if bears sink the price below the channel, the ETH/USDT pair could decline to the strong support at $2,652. BNB/USDTBinance Coin (BNB) broke below the strong psychological support at $500 on Jan. 5. Follow-up selling has pulled the price to the next support at $435.30.BNB/USDT daily chart. Source: TradingViewIf the price bounces off the current level, the BNB/USDT pair could rally to $500 where the bears are likely to mount a stiff resistance. The downsloping moving averages and the RSI in the oversold zone suggest that bears are in control.If the $435.30 support gives way, the pair could extend its decline to $392.20 and later to $320. This negative view will be negated if the price breaks and sustains above the channel. Such a move could open the doors for a possible move to $575. SOL/USDTSolana (SOL) plummeted below $167.88 and the Dec. 13 intraday low at $148.04 on Jan. 5. This indicated that bears have reasserted their dominance. SOL/USDT daily chart. Source: TradingViewThe selling has continued and the bears will now try to pull the SOL/USDT pair to the strong support at $116. This level could attract strong buying from the bulls but the relief rally is likely to face selling near the 20-day EMA ($170).Such a move will indicate that the sentiment remains negative and traders are selling on rallies. That could increase the likelihood of a break below $116. The next stop may be the support line of the channel.The buyers will have to push and sustain the pair above the resistance line of the channel to signal that the downtrend could be ending.ADA/USDT Cardano (ADA) turned down from the 20-day EMA ($1.33) on Jan. 5 and dropped to the strong support at $1.18. The bulls have successfully defended this level but have failed to push the price above the 20-day EMA.ADA/USDT daily chart. Source: TradingViewIf bears pull the price below $1.18, the ADA/USDT pair could drop to the critical support at $1. This is an important support to watch out for because if it cracks, the selling momentum could pick up and the pair could slide to $0.68.On the contrary, if bulls drive the price above the moving averages, the pair could rise to the resistance line of the channel. A break and close above the channel will signal a possible change in trend. The pair could then rally to $1.87.XRP/USDTRipple (XRP) broke below the $0.75 support on Jan. 5 but the long tail on the candlestick suggests that bulls purchased this dip. However, a minor negative is that the buyers have not been able to build upon the rebound.XRP/USDT daily chart. Source: TradingViewThe XRP/USDT pair formed a Doji candlestick pattern on Jan. 8 and the bulls are currently attempting to sink the price below $0.75. If that happens, the downtrend could resume and the pair may drop to $0.60.The downsloping moving averages and the RSI in the negative zone indicate that bears are in command. Contrary to this assumption, if the price rebounds off the current level, the bulls will attempt to push the pair above the moving averages.If they succeed, it will suggest that the selling pressure may be reducing. The pair could then rise to $1.LUNA/USDTTerra’s LUNA token plummeted below the 20-day EMA ($81) on Jan. 5, indicating that short-term traders may have booked profits after bulls failed to clear the hurdle at $93.81.LUNA/USDT daily chart. Source: TradingViewThe bears have pulled the price to the 50-day SMA ($69), which may act as a strong support. If the price rebounds off the current level, the bulls will try to push the LUNA/USDT pair to the downtrend line of the descending channel.A break and close above the channel will indicate that the correction may be over. The bulls will then try to push the price to $93.81. On the contrary, a break and close below the 50-day SMA could intensify selling and the pair may drop to the psychological support at $50.Related: Bitcoin and Ether heading $100K and $5K in 2022: Bloomberg IntelligenceDOT/USDTPolkadot (DOT) is range-bound in a downtrend. The price has been oscillating between $22.66 and $32.78 for the past few days. DOT/USDT daily chart. Source: TradingViewThe 20-day EMA ($28) has started to turn down and the RSI has dipped into the negative territory, suggesting that bears have the upper hand. If sellers sink and sustain the price below $22.66, the DOT/USDT pair could plunge to $16.81.Contrary to this assumption, if the price rebounds off $22.66, the bulls will try to push the pair to $32.78. A break and close above this level could signal a possible change in trend. The pair could first rise to $40 and later to $44.AVAX/USDTAvalanche (AVAX) broke below the $98 support on Jan. 5 and dropped to the uptrend line of the symmetrical triangle on Jan. 7. The bulls will attempt to defend this level and push the price back to the downtrend line.AVAX/USDT daily chart. Source: TradingViewThe 20-day EMA ($104) has turned down and the RSI is below 38, indicating that rallies are likely to be sold into. If the bounce off the current level turns down either from $98 or from the 20-day EMA, the possibility of a break below the triangle increases.The AVAX/USDT pair could then decline to the $75.50 support where the bulls will try to arrest the decline. This negative view will invalidate if the price turns up and breaks above the triangle. The pair could then rise to $128.DOGE/USDTDogecoin (DOGE) dipped below the $0.15 support on Jan. 5 but the long tail on the candlestick shows that bulls defended this level. That was followed by a Doji candlestick pattern on Jan. 6, indicating indecision among the bulls and the bears.DOGE/USDT daily chart. Source: TradingViewThe bears tried to resolve the uncertainty to the downside on Jan. 7 but the bulls are not willing to relent. However, unless buyers quickly push the DOGE/USDT pair above the 20-day EMA ($0.17), the risk of a break and close below $0.15 increases.If that happens, the pair could slide to $0.13 and then to $0.10. Alternatively, if bulls push the price above the 20-day EMA, it will suggest that buyers are attempting a comeback. The pair could then rise to $0.19 and if bulls clear this hurdle, the rally may extend to $0.22.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.Market data is provided by HitBTC exchange.

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Hot Doges and Bitcoinana Splits on offer at Florida crypto restaurant

A new crypto-themed restaurant in Florida is slinging hot dogs and shrimp cocktails inspired by Dogecoin (DOGE) and Shiba Inu (SHIB), with the Dogedogs being highly prized by customers. The Clearwater Beach-based venue is dubbed the “Crypto Street Restaurant” and held a grand opening to the public earlier this month with a menu full of names that give a nod to popular crypto-assets and terminology. Ricardo is such a gentleman. If you hit #ClearwaterBeach make sure you stop by! #crypto $BTC #shopsmallbusiness @LayahHeilpern @CryptoStaceyB @FinTechShark1 @olya_borderless pic.twitter.com/QVPObPf3Ff— Alexandre Lores (@alexandre_lores) December 10, 2021The menu boasts dishes such as the Dogedog, Crypto Cuban, DeFi Caesar Salad, SHIBA Shrimp Cocktail and the Bitcoinana Split to name a few, while the restaurant’s decor is also decked out with crypto culture themed posters, wall art and furniture depicting Doge, Satoshi Nakamoto, Elon Musk and assortec Bitcoin memes.Crypto Street Restaurant, Source: Yelp.comAccording to the restaurant’s owner Ricardo Varona, Crypto Street accepts payment in all digital assets including memecoins and so-called “Shitcoins,” and the dogedogs have been “pretty popular” so far.During a Dec.29 interview with the Tampa Bay Times, Varona said that his 24-year-old son first introduced him to crypto a few years ago but he wasn’t a fan of the sector at the time. Over time however, he warmed up to the concept of crypto assets and initially considered launching a restaurant franchise that accepted crypto payments. After the pandemic hit and various expenses and supply chain issues became apparent, Varona said that he altered his plan to launch a single crypto-themed venue as opposed to a chain that simply accepted crypto. “I kept thinking I want to do something different, something fresh, and I kept thinking about crypto… I calculated what it would be to do something new, cut ties with the franchise and started working on Crypto Street.” “So far the younger crowd loves it and come back. With the older crowd, there’s a lot of people that have interest and similar stories to mine where their son or grandson taught them something. So it creates pretty cool conversations,” he added. Varona said that the restaurant can accept crypto payments via a merchant account or peer-to-peer directly to his wallet. “So far we have had a few transactions in crypto, though a lot of people are interested in using it. There’s also some people who just sold it or want to hold it in the long-term instead. But a lot of people understand that using it adds value,” he said. CRYPTO STREET RESTAURANT is HIRING cooks https://t.co/Rfsx4jXby1— Crypto Street Restaurant (@ClwBeachCrypto) December 29, 2021

Five stars for the food or the idea?In its short history, the Crypto Street Restaurant has been reviewed favorably online so far, pulling in a total of three five-star reviews on Yelp and eight five-star reviews on Google Reviews. “Pretty cool place! Excellent decoration, great menu options and super friendly staff. Owner is on top of everything and will gladly give you a tour of the thematic restaurant and explain how the crypto payment system will work,” says the review from elite Yelper “Eduardo F.”This is not the first time the beloved Dogecoin has been affiliated with hot dogs, after American meat manufacturing giant Oscar Mayer auctioned off a one-of-one pack of “Hot Doge Wieners” via eBay in August. Rel Dogecoin Foundation works with Ethereum co-founder on DOGE stakingLast month, Cointelegraph also reported that popular Fast-food chain Burger King partnered with retail trading platform Robinhood to give away free cryptocurrency primarily in the form of DOGE to its customers who sent $5 or more at its locations across the U.S.

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