Dogecoin Barks Up After Twitter Rebranding

Elon Musk, the tech billionaire and self-proclaimed ‘Dogefather’, has done it again. 🐶

Musk changed his Twitter bio to ‘𝕏Ð’, and the Dogecoin community is all ears. The change coincided with Twitter’s transformation into ‘X’, announced by the new CEO, Linda Yaccarino.

Musk’s cryptic bio change has sparked speculation that Dogecoin might become the tipping currency on the revamped platform. 💰

Dogecoin, the original meme coin, has responded positively to the news, becoming the top gainer of the day among major altcoins.

DOGEUSD Hourly Chart – Click to enlarge.

The ‘X’ platform, envisioned as an all-in-‘X’ app, aims to offer multiple services, such as messaging, finance research, education, and social hubs in one place.become a key player in this new ecosystem.

Meanwhile, Dogecoin defied the bearish market trend, gaining as much as +6%  in the last 24 hours. 🚀

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One Way To Use Stocktwits’ Social Data Tools

Have you ever heard the phrase ‘volume precedes price’? It’s an old-school technical analysis 101 maxim. For example, if an instrument is in a downtrend but then you start to see volume tick up, the theory is that price will follow the volume. 🧑‍🎓

It’s what technical analysts call a leading indicator—a heads-up or a warning that the probability of change is high and that it might happen soon. Analysts and traders might apply that principle (volume precedes price) to the Stocktwits Social Data. 

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