14. April 2024

• Dogecoin is experiencing a retracement after the hype surrounding Twitter’s logo change waned.
• eToro has announced a new partnership with Twitter to offer crypto trading services direct to users.
• Prominent Crypto Twitter trader @TreeofAlpha tweeted a macro thesis for dogecoin, citing Elon Musk’s involvement, the market health, and 4/20 as potential catalysts.

Dogecoin Surges 5.8%

Dogecoin (DOGE) has risen from Wednesday’s low of 8 cents with a 5.89% move to the upside after Twitter struck a deal with eToro to offer crypto trading services direct to users.

Traders Anticipate Elon Musk’s Next Move

Twitter CEO Elon Musk has often touted dogecoin as one of his favorite cryptocurrencies, dedicating a segment to it on an appearance on “Saturday Night Live” in 2021. Twitter also briefly changed its logo to the dogecoin logo last week to spur a rally that gained as much as 37% for some traders. Before today’s rise, the popular meme coin had slumped by 22.64%.

eToro Offers Trading Services To Twitter Users

eToro is set to offer trading services of crypto and other assets direct to Twitter users via a new partnership with the social media company, the firm announced Thursday. The Hash panel discussed Elon Musk and Twitter’s latest experiment regarding this development.

Prominent Crypto Trader Endorses Dogecoin Investment

Prominent Crypto Twitter trader @TreeofAlpha tweeted a macro thesis for dogecoin: “It is becoming increasingly harder to not accumulate doge at those prices as it fully retraced the logo change, Elon will integrate eToro trading on Twitter, market is looking healthy, 4/20 is coming and the market showed how low it was willing to go on it during the peak of bear ($0.06c).” After tweeting these comments moments before another spike in price occurred, Dogecoin was seen trading at nearly 9 cents per coin.

Conclusion

Dogecoin appears primed for further gains considering investors are eagerly anticipating what moves will be made next by Tesla CEO Elon Musk and its newfound relationship with eToro via collaboration with Twitter. It remains uncertain whether or not this speculation will become reality; however investors should remain alert given Dogecoin’s recent volatility and potential upside if bullish sentiment prevails in this situation..