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On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, Says Arkham

On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, Says ArkhamCrypto analytics firm Arkham claims to have identified the bitcoin holdings of Elon Musk’s companies, Tesla and Spacex. “The on-chain fund flows we’ve identified match financial statements from Tesla and Spacex,” the firm detailed, stating: “We are the first to publicly identify these holdings on chain.” Bitcoin Holdings of Tesla and Spacex Crypto analytics firm […]

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Tesla and SpaceX Currently Hold $1,340,000,000 in Bitcoin Across 96 Addresses, Says Blockchain Intelligence Firm

Tesla and SpaceX Currently Hold ,340,000,000 in Bitcoin Across 96 Addresses, Says Blockchain Intelligence Firm

New data reveals that two companies owned by billionaire Elon Musk hold over $1.3 billion worth of Bitcoin (BTC) across multiple addresses. According to blockchain analytics firm Arkham Intelligence, Tesla and SpaceX currently hold $1.34 billion worth of the top crypto asset by market cap across 96 combined wallet addresses. “Arkham has identified the BTC […]

The post Tesla and SpaceX Currently Hold $1,340,000,000 in Bitcoin Across 96 Addresses, Says Blockchain Intelligence Firm appeared first on The Daily Hodl.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

The Dogefather? Biopic of Dogecoin Fan Elon Musk Reportedly in Works at Major Hollywood Studio

The Dogefather? Biopic of Dogecoin Fan Elon Musk Reportedly in Works at Major Hollywood Studio

A biopic about longtime Dogecoin (DOGE) proponent and billionaire Elon Musk is reportedly in the works at a major movie studio. According to a new report by Variety, a film about the business magnate is in development at A24 Films, with Darren Arosfksy as its director. Arosfksy is known for directing hits such as Black […]

The post The Dogefather? Biopic of Dogecoin Fan Elon Musk Reportedly in Works at Major Hollywood Studio appeared first on The Daily Hodl.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

SpaceX sold $373M worth of Bitcoin acquired in 2021-2022: Report

Elon Musk announced in 2021 that SpaceX had some Bitcoin holdings following an SEC filing showing Tesla planned to purchase $1.5 billion worth of the cryptocurrency.

Aerospace technology firm SpaceX reportedly sold roughly $373 million worth of Bitcoin (BTC) it acquired starting in 2021.

According to an Aug. 17 report in the Wall Street Journal, SpaceX recorded $373 million worth of Bitcoin holdings on its balance sheet in 2021 and 2022, but has since sold the crypto asset. The news outlet reportedly viewed documents on the firm’s financials showing roughly $5.2 billion in total expenses for 2022, and $5.4 billion in 2021 and 2022 for acquiring property and equipment in addition to research and development costs.

SpaceX CEO Elon Musk publicly announced in 2021 that the firm had acquired a certain amount of Bitcoin. This followed a U.S. Securities and Exchange Commission filing showing Tesla — another company co-founded by Musk — planned to purchase $1.5 billion worth of the crypto asset. The announcement likely contributed to BTC hitting a then all-time high price of more than $43,000.

According to Tesla's Q2 2023 earnings report, the firm had sold all but $184 million worth of its Bitcoin holdings. Tesla reported it had liquidated more than 30,000 BTC in the second quarter of 2022 for $936 million — roughly 75% of its $1.5-billion BTC original holdings. 

Related: Elon’s ‘not afraid of blowing things up’ — ex-Twitter exec on working under Musk

Musk, one of the richest people in the world, has often taken to social media to comment on certain cryptocurrencies including Dogecoin (DOGE) and Bitcoin, even briefly changing Twitter's then blue bird logo to the DOGE Shiba Inu. Since his $44-billion purchase of Twitter — later rebranded to X — in October 2022, he has suggested the platform could offer an ”entire financial world” including banking and payment services.

The timing of SpaceX’s reported Bitcoin sale is unclear, but the crypto market experienced a significant crash in 2022 amid the collapse of major firms including Terraform Labs. Many technology firms and financial institutions continue to hold Bitcoin and other cryptocurrencies.

Magazine: Simon Dixon on bankruptcies, Celsius and Elon Musk: Crypto Twitter Hall of Flame

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

Elon Musk’s Tesla Keeps Dogecoin (DOGE) As Payment Option While Removing Bitcoin (BTC): Blockchain Reporter

Elon Musk’s Tesla Keeps Dogecoin (DOGE) As Payment Option While Removing Bitcoin (BTC): Blockchain Reporter

Billionaire Elon Musk’s Tesla is keeping Dogecoin (DOGE) as a payment option while removing the source code that once allowed Bitcoin (BTC) payments. According to blockchain report Colin Wu, the king crypto and Dogecoin have been present in the electric car manufacturer’s source code since January despite Tesla removing Bitcoin as a payments option in […]

The post Elon Musk’s Tesla Keeps Dogecoin (DOGE) As Payment Option While Removing Bitcoin (BTC): Blockchain Reporter appeared first on The Daily Hodl.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

Dogecoin (DOGE) Drops 6% As Elon Musk’s SpaceX Test Rocket Launches, Explodes

Dogecoin (DOGE) Drops 6% As Elon Musk’s SpaceX Test Rocket Launches, Explodes

The price of popular meme asset Dogecoin (DOGE) dipped 6% today as tech billionaire Elon Musk’s SpaceX launched a test rocket only to explode shortly after. According to a new report by CNBC, the test launch of the company’s Starship rocket had a successful start until it blew up four minutes into its flight due […]

The post Dogecoin (DOGE) Drops 6% As Elon Musk’s SpaceX Test Rocket Launches, Explodes appeared first on The Daily Hodl.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

Why is Dogecoin price up today?

Dogecoin price hits a four-month high after rallying 30% in a day with Elon Musk and Twitter playing a central role in the DOGE craze once again.

Dogecoin (DOGE) pared a portion of its massive daily gains on April 4 as investors speculated on the meaning behind Elon Musk's latest cryptic stunt.

Elon Musk pumps Dogecoin by over 30%

In what appears to be a late April Fool's joke, Musk-owned Twitter changed its official blue bird logo to mimic Dogecoin's symbol — a Shiba Inu dog featured in viral memes. Later, Musk tweeted a meme recognizing the change.

Over the years, Musk has historically influenced the Dogecoin market with his cryptic tweets. The billionaire investor calls himself "Dogefather" and has earlier discussed the prospects of adding a DOGE payment option for Twitter subscription services. 

His other ventures, Tesla and SpaceX, already accept DOGE for its merchandise products.

Dogecoin rose nearly 33% after Musk's tweet on April 3, reaching $0.104, its highest level since December 2022. DOGE price has pared a portion of its gains since, dropping to lows of $0.092.

DOGE/USD daily price chart. Source: TradingView

Interestingly, DOGE's ongoing run-up came after the news of Musk's lawyers seeking to end a $258 billion lawsuit against him for allegedly pumping Dogecoin prices.

In July 2022, the plaintiff had accused Musk of manipulating DOGE prices using his broad social media presence — including an appearance on Saturday Night Livewhich helped Dogecoin price rally "by more than 36,000% in two years" and crash afterward.

What's next for DOGE price?

From a technical perspective, Dogecoin eyes a short-term pullback after testing a strong selling area (purple) as resistance, as shown below. Also, the DOGE's daily relative strength index (RSI) has entered its overbought zone, which boosts its correction prospects in the coming days.

DOGE/USD daily price chart. Source: TradingView

As a result, a DOGE pullback scenario could have it drop toward $0.89 as its next downside target in April, down 10% from the current prices. This target level has served as resistance during the January-February uptrend earlier this year.

Related: Bitcoin price bounces after CZ arrest rumors as traders eye $30K next

Moreover, a decisive close below $0.89 could have the market eye $0.80 as their next downside target by April or May. This level, down about 20% from current prices, acted as support during the February-March correction phase and coincided with DOGE's multi-month ascending trendline support.

Conversely, independent analyst Crypto Kaleo sees Dogecoin rallying nearly 125% in the long term as it nears a breakout above a long-standing descending trendline resistance.

DOGE/USD weekly price chart. Source: TradingView/Crypto Kaleo

"When DOGE breaks out above the HTF downtrend here, I think $0.25 is a reasonable target," he said.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

62% of Dogecoin hodlers in profit amid hopes of Twitter integration

DOGE price rallied 98.5% in the last seven days following Elon Musk's acquisition of Twitter, pushing the crypto into the eighth position in global crypto rankings.

Tesla CEO and billionaire Elon Musk’s acquisition of Twitter has tipped 62% of Dogecoin (DOGE) investors into profit, amid speculation that Musk’s Twitter-buy will be positive for the meme token.

DOGE’s price rallied on Oct. 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to “Chief of Twit” — the same day he visited Twitter’s San Francisco-based headquarters before officially closing the deal as the new owner on Oct. 28.

In the past seven days, DOGE’s price has surged 98.5% to $0.119 at the time of writing, according to CoinGecko.

This means that as much as 62% of DOGE holders are “Making Money at Current Price” according to data from blockchain intelligence platform IntoTheBlock — which even beats out Bitcoin (BTC) and Ethereum (ETH) hodlers at 54% and 57% respectively.

The events have also triggered DOGE’s market cap to surpass smart contract platforms Cardano and Solana into becoming the 8th largest cryptocurrency in the world with a $16.3 billion market cap, according to CoinGecko.

The link between Musk’s Twitter purchase and DOGE’s massive price surge should come as no surprise as many Dogecoin investors have high hopes for Musk — nicknamed “The Dogefather” — to integrate Dogecoin onto Twitter in some shape or form.

Dogecoin fanatic and crypto blogger Matt Wallace told his 678,400 followers on Oct. 28 that he believes a Dogecoin-integrated Twitter would showcase “what #Dogecoin is capable of.”:

While Dogecoin fan page “Doge Whisperer” speculated that a Dogecoin-based tip system could be implemented for popular tweets:

Even Cardano CEO and founder Charles Hoskinson has weighed in — stating there is now a “real possibility” of Dogecoin integrating on to Twitter:

Hoskinson then went one step further by offering to migrate Dogecoin on to Cardano as a sidechain with embedded smart contract functionality for free.

Related: How Crypto Twitter could change under Musk’s leadership

In Jan. 2022, Tesla began accepting DOGE as a payment method for merchandise purchases, with Musk also hinting at doing the same thing at SpaceX in May. 2022.

The electric vehicle company also began accepting Bitcoin-based payment for its cars in Jan. 2021, despite the CEO taking the view that Dogecoin is “better suited for transactions” in Dec. 2021.

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Dogecoin price rallies 150% in 4 days, but DOGE now most ‘overbought’ since April 2021

DOGE price could drop 60% by the end of this year as it reaches its most overbought level since April 2021.

The Dogecoin (DOGE) price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk's Twitter acquisition.

Elon Musk boosts Dogecoin price again

Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, the biggest daily gain since April 2021.

DOGE/USD daily price chart. Source: TradingView

Notably, the meme-coin's massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE's price gained 150% during the Oct. 25-29 price rally.

The surge was also accompanied by a decent increase in its daily trading volumes. That coincided with a spike in the number of DOGE transactions exceeding $100,000, according to Santiment. Both indicators sugges a growing demand for Dogecoin tokens among rich investors, or so-called "whales."

Dogecoin whale transaction count. Source: Santiment

The jump across Dogecoin's key metrics reflect investors' excitement about Elon Musk's Twitter acquisition on Oct. 27. Earlier this year, the billionaire entrepreneur had flirted with the idea of making Dogecoin a payment method to purchase the Twitter Blue subscription.

Musk's Tesla and SpaceX already accept DOGE payments for their merchandise.

Shiba Inu, meme-coins follow DOGE

Shiba Inu (SHIB), the second-largest meme token by market capitalization, posted a copy-cat rally as well. 

On Oct. 29 alone, SHIB's price jumped by 30% to $0.00001519, its highest level since August 2022. Like Dogecoin, Shiba Inu's rally came as a part of a broader uptrend that started on Oct. 25. Since then, its price has gained 53%.

SHIB/USD daily price chart. Source: TradingView

Additionally, other meme coins have jumped massively in the said period, including Dogelon Mars (ELON), which rallied 140%. 

Meme coins performance on hourly, daily, and weekly timeframes. Source: CoinMarketCap

Dogecoin most overbought since April 2021

Dogecoin's ongoing price rally is starting to look overstretched, however, according to a classic technical indicator.

The relative strength index (RSI), a momentum indicator determining the degree of recent price changes to analyze overbought or oversold levels, has risen to 93.69 on the daily Dogecoin chart. This is the highest level since April 2021, a month before the DOGE price rallied to its record high of $0.75. 

DOGE/USD daily price chart. Source: TradingView

Therefore, the "overbought" conditions do not necessarily mean an immediate bearish reversal. But they do reflect the current euphoric buying momentum in the market, which sooner or later prompts the price to trend either sideways or correct downward.

Dogecoin's 2018-2020 bear market on a weekly chart sheds light on similar price action. Notably, DOGE crashed by almost 95% almost two years after peaking at $0.0194 in January 2018.

Related: Bitcoin price broke out this week, but has the trend changed?

The token's correction period saw it trending inside a descending channel. It broke out of the range to the upside in July 2020 but followed the upside move with a sideways consolidation trend — between its 0 Fib line of 0.0022 and 0.236 Fib line of $0.0054 — until December 2020.

DOGE/USD weekly price chart. Source: TradingView

In comparison, Dogecoin's ongoing bear market is shorter but shows a similar trend trajectory to the 2018-2020 period, as shown above. Therefore, DOGE may fluctuate inside its current 0-0.236 Fib line range (or the $0.055-$0.176 range) following its descending channel breakout.

In other words, DOGE could correct toward $0.055 by the end of this year, down about 60% from current price levels, if the fractal plays out as intended. 

Conversely, an immediate breakout above the 0.236 Fib line could have DOGE eye $0.25 as its next upside target.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin

HODL! Tesla hangs onto all its remaining $218M in Bitcoin in Q3

The vehicle manufacturer's latest earnings report for the third quarter shows it's made no changes to its Bitcoin holdings since its huge sell-off in the second quarter.

Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter.

The company’s Q3 report released Oct. 19 shows $218 million worth of “digital assets” remains on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, it’s estimated that Tesla still holds around 9,720 BTC.

In Q2 earnings report, Tesla said it sold 75% of its Bitcoin during the quarter, adding $936 million in cash to its books and recording a $64 million profit from the sale.

Tesla CEO Elon Musk explained at the time that the sell-off was due to liquidity concerns from the COVID-19 lockdowns in China.

The sell-off during the quarter took a large chunk of the company’s $1.5 billion position in Bitcoin, which it had revealed in February 2021, which at the time, made it one of the largest corporate holders of Bitcoin.

Overall for Q3 2022, Tesla posted $3.3 billion in profits attaining revenues of $21.45 billion, which reportedly fell short of analysts’ expectations, and saw Tesla’s stock price fall by nearly 14% in after-hours trading according to Yahoo Finance.

Related: Binance, Sequoia still backing Elon Musk’s bid for Twitter

Under Musk’s leadership, the vehicle company has seen its range of merchandise available for purchase using Dogecoin (DOGE) since January. His rocket-building company SpaceX soon followed suit in May.

One of Tesla’s recent products was a limited edition whistle it posted for sale in September which could only be purchased using DOGE retailing for 1,000 DOGE, or around $60 at the time. It’s unknown exactly how many units were made available but it reportedly sold out within hours.

Yala Unveils Vision to Revolutionize DeFi With Bitcoin