Dogecoin (DOGE-USD) is aiming for the moon again with a 26% rally today after Elon Musk-owned Twitter replaced its all too familiar Blue Bird button with the meme coin’s Shiba Inu symbol.
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The move from Mr. Musk comes after Tesla requested a judge in Manhattan to end a lawsuit in which he is accused of a pyramid scheme to support the meme coin’s price. Ironically, the $258 billion lawsuit is filed by holders of Dogecoin itself.
Crypto bellwether Bitcoin (BTC-USD), on the other hand, is down nearly 1% over the past five days as concerns over the banking crisis wane but uncertainty over the U.S. Fed’s next move takes its place. Ethereum (ETH-USD) though, has gained nearly 5% during the same period.
The crypto market continues to remain topsy-turvy even as optimism cautiously builds up. For BTC, $30,000 remains the high water mark before we see the next leg of the rally. DOGE is already back to December 2022 levels and any buildup in its euphoria could help it sail past the $0.12 mark.
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