12:37 14. April 2023
Elon Musk told Morgan Stanley analysts that he Twitter to make it the largest financial institution in the world. Although the process is still a long way off and its end uncertain, Twitter announced yesterday that it will allow its users to trade stocks and cryptocurrencies indirectly. The beneficiary of this news was Dogecoin, a cryptocurrency associated with Elon Musk and Twitter. The image of a dog, which is the symbol of the Dogecoin recently changed the well-known Twitter logo for a short time at the initiative of Musk himself.
The platform becomes one Partnership with eToro and start sharing price information from TradingView. Musk noted that almost all of the companies that have left the platform in recent months have already returned to it, although Stellaantis and Volkswagen remain in limbo. Ultimately, Twitter is said to offer investors a range of features ranging from travel arrangements to financial services. In China, for example, the Payments giant Tencent payments through its WeChat messaging app. Crypto investors are hoping that Dogecoin will find its unique place on Musk’s platform. The market is awaiting Musk’s next move, and any news of a possible promotion of Dogecoin payments on Twitter could lead to a euphoric upsurge.
Dogecoin in the D1 chart. The bulls are continuing the momentum, the RSI is showing buyer pressure and the price has bounced off a key support – the SMA200 (red line). The key psychological resistance zone appears to be at $0.10. Which: xStation5 von XTB
Disclosure according to § 80 WpHG for the purpose of possible conflicts of interest
The author may be invested in the securities or underlyings discussed.
The authors of the publications compile that information at their own risk. Analysis and opinions are not written with reference to the specific investment objectives and needs of any person. Publications by XTB that comment on specific situations in the financial markets and general statements by XTB employees regarding the financial markets do not constitute advice by XTB to the customer and cannot be construed as such. XTB is not liable for any loss arising directly or indirectly from decisions made regarding the content of the publications.
Risk Notice
CFDs are complex instruments and come with a high risk of losing money quickly because of leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Investment success and profits from the past do not guarantee success in the future. XTB content, newsletters and communications do not constitute investment advice promotional message to understand.
