Is Dogecoin’s Surge Manipulated as IntelMarkets Prepares for Inflows?
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As DOGE’s price soars, analysts question if exchanges are amplifying these surges to capitalize on DOGE’s meme-fueled volatility. Meanwhile, IntelMarkets (INTL), a promising AI-driven trading platform, is getting ready for substantial capital inflows. Let’s find out why! Market Analysts Weigh In: What’s Really Behind DOGE’s 2024 Comeback? This October, DOGE saw an incredible rise, rising more than 75% to close the month at $0.172, its highest price since May 2024. This massive growth has attracted experts and investors to take note of what is happening behind such remarkable growth. The current rise in the Dogecoin price appears to be mainly due to Elon Musk. Musk at the Donald Trump campaign event on October 27 has recently unveiled his plan for a new Department of Government Efficiency, D.O.G.E that will help save $2 trillion of taxpayer money. Dogecoin’s ticker is mirrored by the department’s initials, DOGE, which raises questions about its potential link with the cryptocurrency. However, recently some analysts have been heard criticizing that the exchanges are behind it, manipulating these price surges. Observing its recent abrupt gains and losses, they are claiming that it might be probable that exchange mechanisms or high-stakes traders may be triggering these intense oscillations by taking advantage of Dogecoin’s meme-based volatility. While there’s no concrete evidence for this claim, it has not been taken that seriously. Dogecoin is now rising from a symmetrical triangular pattern that has been developing since April 2021. As of right now, the breakthrough suggests that the Dogecoin price may target $1 during the current bull cycle if it successfully crosses the major resistances ahead. The Rise of INTL: How IntelMarkets Aims to Reshape the Crypto Market While DOGE enjoys its highs, another coin named IntelMarkets (INTL) is making some serious buzz in the market. It has got all the…
Filed under: News - @ November 3, 2024 5:25 am