Bitcoin

Dogecoin

Dogecoin (DOGE) witnessed a 5% surge in response to Twitter's rebranding announcement on Monday 24, 2023, while <a href="https://optimisus.com/news/crypto-news/bitcoin-block-800000-has-just-been-mined-a-historic-moment-in-btcs-journey/" rel="noopener noreferrer nofollow">bitcoin (BTC)</a> slightly dropped below $29,100.   
The rebranding move by Elon Musk's Twitter is part of the company's transition to X Corp or X.AI, a division of Musk's AI-focused group of firms known as X.   
Further, the world's richest man added dogecoin's ticker logo to his bio, sparking speculation about the most meme crypto playing a more prominent role in the rebranded company.   
However, amidst the excitement surrounding DOGE's potential involvement, the Bitcoin market experienced a liquidation event.   
Over $30 million representing over 96% of all leveraged futures positions were liquidated in just a single hour, contributing to the sudden decline in Bitcoin's value.   
Liquidation is when a crypto exchange forcibly closes a trader's leveraged position due to the loss of the trader's initial margin.   
It happens when a trader fails to meet the margin requirements for a leveraged position or lacks sufficient funds to maintain the trade open.   
As bitcoin's price fell, it had an effect on many altcoins, with Tron ($TRX) and Polygon ($MATIC) experiencing a 3.4% loss, and Solana ($SOL) facing a nearly 5% drop.    
The post <a rel="noopener noreferrer nofollow" href="https://optimisus.com/news/crypto-news/dogecoin-surges-by-5-following-twitter-rebranding-while-bitcoin-dips-to-29k/">Dogecoin Surges By 5% Following Twitter Rebranding, While Bitcoin Dips to $29K</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://optimisus.com">Optimisus</a>.

Dogecoin Surges By 5% Following Twitter Rebranding, While Bitcoin Dips to $29K

Optimisus

Other articles published on Jul 24, 2023

Unprecedented Luxury Awaits with Golden Cask Club: Ultimate Crypto Investment Experience Beyond E...

Study: 40% Jumped Into Crypto for Memes: The 83% Under 30 Driving New Trends

Worldcoin Announced the Distribution of $WLD, 75% to Community

Bitcoin Price Analysis: Bears Take Out 29089 - 25 July 2023

Crypto Morale is Low! Even OpenAI CEO Couldn’t Save the Day! What’s Happening with BTC and Altcoins?

Dogecoin's (DOGE) Descending Triangle Sparks Optimism for a 23,200% Pump

Join our free newsletter for daily crypto updates!