The post Has Elon Musk Left Dogecoin? Reason Why PEPE Surged 18% Overnight Alongside IntelMarkets appeared on BitcoinEthereumNews.com.

There was a time when Dogecoin (DOGE) was the talk of the crypto sphere mostly because of Elon Musk. But with the latest changes to Elon Musk’s Twitter, it seems like he’s abandoning Dogecoin (DOGE) and embracing a new memecoin. PEPE was the recent victim of the “Elon Musk Effect” which allowed it to surge significantly but it was only short-lived.  These small surges in memecoins last for some time only which is why experts prefer projects that have strong fundamentals and the ability to keep growing over time. Because of this, projects like IntelMarkets (INTL) has come to attention with thousands of investors pouring their money in for high gains.  Is Dogecoin (DOGE) Still Elon’s Favorite? There’s been speculation that Elon Musk has abandoned Dogecoin (DOGE) but the real reason behind the end of the bromance between Musk and DOGE is investors are getting more inclined towards the market rather than celebrity tweets. However, it’s bad news for Dogecoin (DOGE) which had fallen by over 25% in the last 30 days alone.  Another reason why Dogecoin (DOGE) has not been able to do so well is because of the emergence of new memecoins. This token was a veteran but now because of tons of new tokens like PEPE and Shiba Inu (SHIB), it has started to lose its charm. However, there’s good news as well for holders that Dogecoin (DOGE) is still inside the top 10 crypto tokens and there’s no way it’ll fall down anytime soon, according to analysts. As far as technical indicators are concerned, according to Oscillators like Relative Strength Index, Dogecoin (DOGE) is in the Neutral zone. But, at the same time, Moving Averages are indicating a selling pressure which means the investors are selling their tokens with very little buying pressure, thus pushing the…

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Filed under: News - @ January 3, 2025 12:19 pm