Biggest Movers: DOGE up by Over 17% as Elon Musk Comments on Twitter Takeover – Market Updates Bitcoin News

Dogecoin rose 17% as Tesla CEO Elon Muss moved closer towards completing the takeover of Twitter. Musk has supported the meme coin for years. Many suggested that the cryptocurrency could be used as a method of payment on Twitter. Cosmos rose by 8 percent today, and traded even higher.

Dogecoin (DOGE).

Dogecoin (DOGE) was once again in the green on Thursday, as the token rose by as much as 17% in today’s session.

As Elon Musk’s long-standing supporter of the meme token moved closer to his planned takeover of Twitter, this price surge comes at a time when it has been getting more expensive.

In a statement released earlier today, Musk stated that “The reason I acquired Twitter is because it is important for the future of civilization.”

Biggest Movers: DOGE up by Over 17% as Elon Musk Comments on Twitter Takeover
DOGE/USD – Daily Chart

The news brought DOGE/USD to an intraday high of $0.08028. This comes one day after it traded at $0.0668.

The trading price of the meme coin has risen to its highest point since August 17. Meanwhile, long-term highs are being recorded by relative strength index (RSI).

The index currently stands at 78.59 as of this writing. This is the highest point it has been since August 2021.

Cosmos (ATOM)

Another notable mover in today’s session was cosmos (ATOM), which rallied by nearly 8% on Thursday.

Less than 24 hours after hitting a low of $12.19, ATOM/USD was exactly $1.00 higher in today’s session.

Today’s surge saw cosmos climb for a third straight session, hitting a seventeen-day high in the process.

Biggest Movers: DOGE up by Over 17% as Elon Musk Comments on Twitter Takeover
ATOM/USD – Daily Chart

The chart shows that the RSI moved up, reaching a peak of 56.00. This is just below the ceiling of 58.80.

This marks the highest point of price strength since September 19. Moving averages are also trending upwards.

A lot of people expect that the moving averages will cross over between the 10-day (red) or 25-day (blue). This would push prices higher.

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Which is your highest estimate of the cosmos’ peak this week? Please share your views with us in the comment section.

Eliman Dambell

Eliman has a unique perspective on market analysis. He was previously a retail trading teacher and brokerage director. He currently acts as an analyst for various asset types, such as Crypto, Stocks, FX.

Images, Pixabay. Wiki Commons. KLYONA

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