Musk is a well-known Dogecoin pumper, having used the social media platform to shill the canine cryptocurrency on several occasions. Only bridged doge is likely vulnerable as the stablecoins are bridged using synapse and anyswap which are unlikely to be affected. If you want to invest, please maintain a stop loss of $0.13. The popular meme coin Dogecoin has jumped more than 12 in the past hour following reports that Twitter is expected to reach a deal with Tesla and SpaceX CEO Elon Musk on Monday. Dogecoin (DOGE) had a boost that took it to an almost two-month high after Elon Musk bought a 9.2 in Twitter (a 2,8 billion stake) according to a Securities and Exchange Commission 13G filing released Monday, thus becoming the company’s largest shareholder. Please remember that if it breaks the support level of $0.16, the next support level will be $0.05. However, if you understand the potential of Dogecoin and have faith in the coin, you may start investing now. If you are a long-term investor, you should wait for a breakout before investing in cryptocurrency. If you are a short-term investor, it is the ideal opportunity to invest for at least six months. Well, it gives you a good opportunity for swing trading. In the last couple of months, most cryptocurrencies have been moving sideways. The Moving Average is not strong as well. IST Tuesday, according to CoinMarketCap statistics. The cryptocurrency featuring a Shiba Inu meme, which has long been a favorite of the centibillionaire, was up 22.14 percent to 0.162 as of 01:10 a.m. On the other hand, the Bollinger Band shows a lack of volatility and bearish signals because the last few candlesticks are below the baseline in the lower half of the BB. Dogecoin (DOGE) soared nearly 30 Tuesday after Elon Musk agreed to acquire Twitter Inc for 44 billion, multiple news outlets reported.

The MACD chart is also showing bullish momentum.

Dogecoin twitter