Elon Musk

<p><strong>X—previously known as Twitter—has <a href="https://captainaltcoin.com/x-twitter-granted-license-for-cryptocurrency-payments-in-major-win-for-platform-elon-musk-starts-building-a-crypto-wallet/" target="_blank" rel="noopener noreferrer nofollow">secured a currency transmitter license from Rhode Island’s regulatory authorities</a>. This monumental move grants X the legal clearance to offer a suite of cryptocurrency-related services, including payments and trading, within the United States. </strong></p> 
<p>Not only does this mark a pivotal moment in X’s diversification strategy, but it also has far-reaching implications for the cryptocurrency market at large. Among the beneficiaries of this development could be Dogecoin, the meme-turned-mainstream cryptocurrency that has captured the imagination of none other than Elon Musk.</p> 
<h2 class="wp-block-heading" id="the-significance-of-the-license">The Significance of the License</h2> 
<p>A currency transmitter license is not just a piece of paper; it’s a regulatory seal of approval that is mandatory for any entity dealing in cryptocurrencies or related services. With this license in hand, X can now legally engage in a wide array of crypto activities, such as secure storage, seamless transfers, and efficient exchanges. This regulatory green light paves the way for X to broaden its service portfolio, thereby amplifying its global footprint and diversifying its revenue streams.</p> 
<h2 class="wp-block-heading" id="media-buzz">Media Buzz</h2> 
<p>The news has already caught the attention of major media outlets, including Cointelegraph, TheStreet, CaptainAltcoin, and BSC News, underscoring its significance in the crypto ecosystem.</p> 
<h2 class="wp-block-heading" id="the-dogecoin-angle">The Dogecoin Angle</h2> 
<p>Now, let’s delve into the crux of the matter: What does this mean for Dogecoin? Given that Elon Musk has often expressed his fondness for Dogecoin, there’s a plausible scenario where Dogecoin could become the primary cryptocurrency on X’s platform. If this speculation materializes, it could serve as a significant catalyst for Dogecoin’s adoption and price appreciation.</p> 
<h2 class="wp-block-heading" id="technical-analysis-of-dogecoin">Technical Analysis of Dogecoin</h2> 
<h3 class="wp-block-heading" id="price-movements">Price Movements</h3> 
<p>In July, Dogecoin experienced a bullish breakout from a Falling Wedge pattern, catapulting its price to $0.080—a 30% gain. However, the coin has since retraced below its 200-day moving average ($0.08) and even dipped below the $0.07 support level, erasing all previous gains.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="699" src="https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-1024x699.png" alt="" class="wp-image-325627" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-1024x699.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-300x205.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-1536x1048.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-2048x1397.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-220x150.png 220w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-513x350.png 513w, https://captainaltcoin.com/wp-content/uploads/2023/08/Santiment-chart-7-788x537.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats – Start using it today</a></strong></em></p> 
<h3 class="wp-block-heading" id="key-indicators">Key Indicators</h3> 
<ul> 
 <li><strong>MACD</strong>: The MACD line is currently above the MACD Signal Line, indicating a bullish trend.</li> 
 <li><strong>RSI</strong>: The RSI is hovering around 50, which is considered neutral.</li> 
</ul> 
<p>These mixed signals suggest that investors should either wait for the price to reclaim key levels to confirm an uptrend or look for a pullback to the $0.053 support level for a swing entry.</p> 
<h3 class="wp-block-heading" id="support-and-resistance">Support and Resistance</h3> 
<ul> 
 <li><strong>Support Zones</strong>: The nearest support zones are at $0.06 and then $0.053.</li> 
 <li><strong>Resistance Zones</strong>: On the flip side, the resistance levels to watch are $0.070 followed by $0.100.</li> 
</ul> 
<h2 class="wp-block-heading" id="conclusion">Conclusion</h2> 
<p>X’s acquisition of a currency transmitter license is a watershed moment not just for the company but potentially for Dogecoin as well. As X integrates cryptocurrency payments and trading into its platform, Dogecoin could very well become the star of this new venture, especially given Elon Musk’s affinity for the coin. </p> 
<p>While the technical indicators for Dogecoin are mixed, the fundamental landscape looks increasingly promising, making it a crypto asset to watch closely in the coming months.</p> 
<p>You can view our <strong><a href="https://captainaltcoin.com/dogecoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin price prediction here.</a></strong></p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/is-dogecoin-set-to-blast-off-as-x-twitter-becomes-crypto-ready-all-thanks-to-elon-musk/">Is Dogecoin Set To Blast Off As X (Twitter) Becomes Crypto-Ready? All Thanks To Elon Musk</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Is Dogecoin Set To Blast Off As X (Twitter) Becomes Crypto-Ready? All Thanks To Elon Musk

Table of Contents

CaptainAltcoin

Other articles published on Aug 31, 2023

Yearn Community Approved the "Launch v3 Proposal"

Judge Dismisses Uniswap Lawsuit; Describes ETH a Commodity

BingX BTCUSDT scored industry lowest Slippage after Advanced Perpetual Futures Upgrades

City University Ajman and Ajman Municipality Collaborate in Empowering Human Resources through We...

🔥opBNB — New Vote on Roobee DAO!

Swift and Chainlink Collaborate to Foster Interoperability for Tokenized Asset Markets

Join our free newsletter for daily crypto updates!