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Tag: Elon Musk

  • Elon Musk Announces Tesla (TSLA)’s Robotaxi Unveiling on August 8

    Elon Musk Announces Tesla (TSLA)’s Robotaxi Unveiling on August 8

    On Friday, Elon Musk—the visionary CEO at the helm of Tesla Inc. (TSLA) and renowned as one of the wealthiest people on the planet—set the tech and automotive sectors abuzz. Taking to social media, Musk dropped a hint that has been long awaited by enthusiasts and investors alike: Tesla is slated to roll out its much-talked-about Robotaxi this coming summer. This tease sent Tesla’s shares climbing in after-hours trading, adding a buzz of excitement to the market.

    So What Exactly Happened?

    Musk’s revelation was succinct, only sharing the date “8/8” for the robotaxi’s reveal, stirring curiosity and speculation among followers and investors. This isn’t the first time Musk has projected ambitious visions for Tesla’s foray into autonomous driving; he’s been known to forecast such advancements before, albeit with timelines that have yet to be realized.

    History shows that Musk’s projections for self-driving technology have been a moving target. In 2016, he suggested a Tesla would autonomously traverse the country by the end of 2017. More promises followed, including claims of nearly achieving ‘level 5′ autonomous driving by 2020 and achieving full self-driving capabilities without human oversight in the following years—targets that have so far stretched beyond their due dates.

    The stock market reacted favorably to Musk’s latest announcement, with Tesla shares climbing more than 4.8% in the hours post-closure on Friday, even though the stock had ended the regular trading day 3.6% down.

    2024 has been tough on Tesla stocks, with the company’s shares dropping sharply by over 30%. Tesla’s challenges include softening demand for electric vehicles and stiff competition, particularly from China, leading to a 40% drop in quarterly profits and a muted revenue increase as per their January financial statement.

    In the robotaxi arena, Tesla is not alone. General Motors’ Cruise and Alphabet’s Waymo have been key players, with Cruise recently facing regulatory hurdles in California, and Waymo expanding its services in several cities and teaming up with Uber Eats for delivery in Phoenix.

    Musk’s personal fortune, meanwhile, is valued at approximately $189.2 billion, per Forbes, maintaining his position as one of the global elite in wealth.

     

  • Dogecoin (DOGE) pumps after Elon Musk joins Twitter

    Dogecoin (DOGE) pumps after Elon Musk joins Twitter

    Dogecoin (DOGE) is up 11%, per coinmarketcap information, following Twitter’s declaration of Elon Musk as the freshest individual from its directorate.

    As a component of the arrangement to join the board, Musk has consented to not bring his stake any higher than 14.9% from the current 9.2%. Twitter CEO Parag Agrawal and Musk traded tweets Tuesday early daytime communicating their fervor and interest in cooperating.

    Simultaneously tweets had additionally been traded between the ex-CEO Jack from Twitter who feels that option of Elon Musk to the leading group of Twitter will be helpful for the local area.

    It’s the second spike in two days for dogecoin on Musk/Twitter-related news. While Monday’s move immediately switched, DOGE right now has been rising, presently besting $0.16 without precedent for a very long time.

    Throughout recent months Musk, the CEO of Tesla (TSLA) has advanced dogecoin, in any event, taking into account DOGE to be acknowledged for installment at Tesla’s supercharging stations and its web-based stock store. Presently the biggest individual proprietor of Twitter shares and a board part, Musk could push for DOGE installments to some way or another be coordinated into the web-based entertainment organization’s foundation.

    Bounce Iaccino, boss specialist at Path Trading Partners and co-portfolio supervisor at Stock Think Tank, questions that will occur. “It’s living in a fantasy land with respect to those who put resources into dogecoin,” said Iaccino.

    As has turned into a propensity for the Tesla CEO, the current week’s activities could as of now have him on the Security and Exchange Commission’s radar. Administrative filings show that Musk documented a structure 13G with the office on April 4, authoritatively revealing his responsibility for more than 5% of Twitter. The structure, be that as it may, states the individual getting said protections are doing as such “not with the impact of changing or affecting the control of the backer,” which would incorporate joining the board.

    Assuming the purchaser of offers wishes to turn into a dissident or join the board, that would require the documenting of a structure 13D, wherein those expectations would be expressed.

    Dogecoin was having a decent month preceding the current week’s news, and is presently higher by 30.6% throughout the most recent 30 days, as per CoinDesk information.

  • Dogecoin (DOGE) Coin – Can the bearish momentum end soon?

    Dogecoin (DOGE) Coin – Can the bearish momentum end soon?

    Dogecoin (DOGE) had picked up the pace towards the end of June; however, the cryptocurrency was gripped by the bears and the bullish momentum was lost. Bearish momentum has been dominant in the market ever since and Dogecoin has been on a strong downtrend. The price movements in the daily timeframe indicates towards a reversal of the trend. In the past twenty-four hours, Dogecoin had been moving upwards – although the upside movement is minor currently – while the daily trading volume has declined by 10%. At the time of writing, Dogecoin stands at a price level of $0.19.

    Dogecoin (DOGE) technical analysis

    The recent upward move has not yet been translated into the technical for the cryptocurrency. The market outlook for Dogecoin continues to be bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with eight indicators standing at a neutral position and only three at buy. The oscillators are neutral while the moving averages still suggest a strong downtrend.

    Dogecoin (DOGE) technical analysis
    Dogecoin (DOGE) technical analysis

    A trader’s analysis reveals a take on the upcoming price movements of Doge coin. Per the analysis, Dogecoin’s downtrend is not to last for too long. The cryptocurrency had formed somewhat of a coherent wave count. The current wave will lead DOGE crypto towards testing a crucial support level at $0.16. If Dogecoin stabilizes at the support level, a pullback to the upside can be expected which will help the cryptocurrency towards a price target of $0.27.

    Dogefather’s full support for Dogecoin

    The Doge-father – or the billionaire CEO Elon Musk – had been an ardent believer of the cryptocurrency. Musk has sent the cryptocurrency flying to the moon a couple of time and he is not stopping anytime soon. Musk had taken up with the development team of Dogecoin and has been working closely with them to make Dogecoin a global payment network. The support of Musk is crucial for Dogecoin and can result in a trend reversal.

  • Dogecoin (DOGE) – Bullish break soon?

    Dogecoin (DOGE) – Bullish break soon?

    Dogecoin (DOGE) had been giving a subpar performance in the weekly timeframe. The cryptocurrency had appeared to pick up the pace; however, the bulls failed and Dogecoin once again started moving downhill. In the past seven days, Dogecoin has fallen by 8%. At the time of writing, the cryptocurrency stands at a price level of $0.23. The price is decreasing in the daily timeframe as well and so has been the trading volume.

    The market outlook for DOGE coin is bearish. Out of the twenty-six technical indicators, eleven are giving out an indication of sell while ten are standing at a neutral position with only five signals of buy. The oscillators are primarily neutral while the moving averages suggest a downtrend.

    A trader has identified DOGE coin to be operating in an inverse head and shoulder formation. The cryptocurrency has successfully completed the formation of the left shoulder and head while the right shoulder may soon be completed. The inverse H&S formation is a bullish pattern with an upside breakout as the more likely trajectory. The trader has identified the potential price target at $0.44 which would give nearly 80% gains from the current price.

    Dogecoin (DOGE) fame not dying anytime soon?

    Despite the bearish trend in the price movements, Dogecoin does not appear to be losing any popularity. Freshman Congressman Barry Moore has revealed heavy investment in DOGE coin, Ethereum and Cardano. Glauber Contessoto, a Dogecoin investor, famous for investing his $250,000 lifesavings in Dogecoin has increased his Dogecoin portfolio as the cryptocurrency dips. Contessoto has added an additional $25,000 to his investment in the cryptocurrency.

    So why is Dogecoin being bought despite the downtrend? One answer could be Elon Musk. The cryptocurrency continues to enjoy the protection of the billionaire CEO. Musk is also going full-force with Dogecoin’s development team to make it a global digital currency.

  • The debut of Bitcoin Mining Council

    The debut of Bitcoin Mining Council

    Bitcoin is notoriously known for its high energy consumption. In fact, it was the high energy consumption of Bitcoin that led to the brutal market crash and end of the 2021 bull-run. Elon Musk, the advocate of cryptocurrencies, denounced the use of Bitcoin as a mode of payment for his Tesla cars which resulted in market-wide panic selling and, the crash.

    The mining of BTC is an energy-intensive power and as the demand and adoption increase, the mining does too. The electricity demand of BTC crypto is near 143 terawatt-hours – which is higher than the energy consumption of countries like Argentina. Bitcoin mining poses a huge challenge to countries trying to offset their carbon emission – like China. China has launched a crackdown on BTC mining as the country tries to achieve net zero carbon emissions. A shift towards renewable energy sources has recently been observed as non-renewable energy sources are not sustainable economically.

    As Bitcoin is believed to not got anywhere, BTC supporters are renewing their efforts to completely shift mining to renewable sources. Elon Musk had recently introduced a group of North American BTC mining companies that are focusing on the shift towards renewable resources. The mining companies have taken an official position as the BTC Mining Council.

    MicroStrategy CEO Michael Saylor initiated the council officially while describing the group as: “A voluntary and open forum of Bitcoin forum committed to the network and its principles”. However, the council would not have any power to impose standards or regulations on anyone. And while Elon Musk first introduced the Council, it appears as though the billionaire CEO does not have a place on the council – at least, not officially.

    Will the Bitcoin Mining Council bring about a positive change in the BTC mining industry or will it be just an organization with no real impact? We have yet to find out.

  • Dogecoin (DOGE) not a joke – Coinbase Pro listing

    Dogecoin (DOGE) not a joke – Coinbase Pro listing

    In a hallmark move for the cryptocurrency, Dogecoin (DOGE) is being added by Coinbase Pro – a listing not that easy. Coinbase is considered the most selective crypto exchanges with just 63 tokens listed. Being the only cryptocurrency exchange-listed, Coinbase also enjoys a much superior reputation which will prove to be beneficial for Dogecoin.

    Dogecoin (DOGE) started off as a joke but the cryptocurrency does not appear to be a joke anymore. Invented in 2013 by two engineers literally as a joke and based on the dog, Shiba Inu, the founders certainly would not have fathomed the popularity that dogecoin has today. It all started with Elon Musk, billionaire CEO of Tesla. Musk took it upon himself to advocate cryptocurrency and the possibility of its mass-scale adoption as a mode of payment.

    Elon Musk’s efforts earned him his title of “Doge Father”. The CEO has sent the cryptocurrency shooting upwards with his tweets and comments on social media. Dogecoin showed phenomenal performance in the bull run of 2021 – increasing from $0.004 to $0.73. however, the market crash sobered up the Doge community as well as the cryptocurrency fell and fear overtook the market.

    But this is not the end of dogecoin. In fact, it may as well be just the beginning for cryptocurrency. Elon Musk observed a shift towards the development of cryptocurrency. The Tesla CEO is now working with the developers of Dogecoin to turn his belief into reality – Dogecoin as an accepted mode of payment.

    The success of Dogecoin has led it to create a whole new segment of cryptocurrencies – meme coins. Cryptocurrency like Shiba Inu (SHIB) and Akita Inu (AKITA) have followed the footsteps of Dogecoin.

  • Dogecoin (DOGE) not a joke anymore?

    Dogecoin (DOGE) not a joke anymore?

    Dogecoin (DOGE) has fallen from its all-time high of $0.73 to $0.33 – nearly 50% loss. The price movements in the twenty-four-hour time period shows downward bias as the cryptocurrency fell nearly 5%. The daily trading volume of the cryptocurrency is also declining. Although DOGE crypto made it somewhat evident that it is no longer a joke – as it was originally planned – when it established its all-time high in the bull run moving up from a price of $0.003. The market crash has again brought the lack of innovation in cryptocurrency to highlights.

    Does Dogecoin (DOGE) offer any value?

    It has been long debated that Dogecoin does not really possess any real value. Ethereum founder Charles Hoskinson had also suggested various changes to Elon Musk which could improve the cryptocurrency and make it offer real value. Elon Musk had been dubbed as the “Doge father”. The billionaire CEO had been avidly supporting the cryptocurrency and has now embarked on a mission to further the development of DOGE crypto through collaboration with the team.

    Elon Musk is working with the founders of Dogecoin to increase transaction efficiency. Musk has also been actively utilizing his Twitter handle to take suggestions from the general public for the improvement of Dogecoin. The Tesla CEO had been reported to support Dogecoin because it “has dogs and memes”.

    Never mind why Elon Musk is supporting DOGE crypto, his support and especially the renewed focus on the development is crucial for the future of the cryptocurrency. The new COO of Robinhood Christine Brown has revealed ambitious plans for the cryptocurrency sphere of the trading platform. The billionaire Mark Cuban had earlier commented if Robinhood allows the move of Dogecoin to external wallets, it would be phenomenal for both the platform and Dogecoin. The new COO has announced to allow transfers to external wallets.

    Is Dogecoin (DOGE) not a joke anymore?

    The support of Elon Musk, even as he says he does not control Dogecoin, and the recent shift towards the development of Dogecoin suggests that the cryptocurrency may soon become what Elon Musk expected it to – a mode of payment throughout the world. The announcement of Robinhood may also bode good things for the cryptocurrency. Although the impact of the recent developments has yet to transform into price action as Dogecoin continues downward, with $0.21 as an important support level crucial to be upheld.

  • Dogecoin (DOGE) towards alt=

    Dogecoin (DOGE) towards $0.15, trader

    Dogecoin (DOGE), the meme crypto, had become an internet favorite thanks to support from celebrity figures like Elon Musk. At the time of writing, DOGE Coin stands at a price level of $0.27. DOGE crypto established its twenty-four-hour low at $0.21 while the high was at $0.68 – showing increased volatility. The price of the cryptocurrency has fallen by 14% since yesterday while the daily trading volume has increased by 120%. Dogecoin is ranked sixth with a market capitalization of $45 billion.

    Dogecoin (DOGE) Technical Analysis

    The market sentiment for DOGE coin is bearish; however, the technical indicators are giving out a neutral signal. Out of the total twenty-six technical indicators eight are standing at a neutral position while both buy and sell indications are at nine each. The oscillators and moving averages are also neutral with the moving averages leaning more towards bearish with a heavy sell side.

    Dogecoin (DOGE) Technical Analysis
    Dogecoin (DOGE) Technical Analysis

    Amidst the strong pullbacks, DOGE coin is testing various support levels. The price level of $0.38 failed to hold as support and is now acting as strong resistance. The next strong support can be found at the price level of $0.24. A trader is expecting Dogecoin crypto to have sideways movements in the channel formed by a strong resistance and support level. The trader is expecting the bulls to dominate and possibly lead the cryptocurrency upwards. However, given the strong bearish sentiment there is a good chance that Dogecoin crypto will test the support level at $0.24 and the support level may fail. In that scenario, the price level of $0.15 will act as the next support level.

    Musk to get serious about Dogecoin?

    The founder of Cardano, Charles Hoskinson, has created a video titled “How to fix Dogecoin (For Elon Musk)”. The creator talks about steps that the Tesla CEO can take to rebuild the cryptocurrency. Hoskinson suggested that Musk look into research papers for the cryptocurrency which will help people understand Dogecoin as well as provide avenues for improvements in the coin. The Cardano creator also suggested adding smart contracts functionality to Dogecoin.

    If Elon Musk is to act on the suggestions of Charles Hoskinson, then Dogecoin may truly become a force to be reckoned with.

  • Dogecoin (DOGE) literally to the moon or to crash?

    Dogecoin (DOGE) literally to the moon or to crash?

    A Canadian manufacturing and logistics firm Geometric Energy Corporation has announced to launch a payload funded by Dogecoin (DOGE) onto SpaceX’s rocket to the moon. The payload is designed to gather intelligence on the moon with the help of sensors and cameras. The commercial satellite is set to travel to the moon in early 2022 and will be aboard SpaceX Falcon 9 launch vehicle.

    The Vice President of Sales at SpaceX had commented the use of Dogecoin demonstrates the application on cryptocurrencies beyond earth as well. Will Dogecoin really be the first cryptocurrency to literally reach the moon? And what impact will this have on the Dogecoin on earth? Is a price surge to be expected?

    However, it is unclear what role did Dogecoin play in the project. Neither SpaceX nor Geometric Energy has specified the use of funding from Dogecoin or what the funding amounted to. Speculations based on previous missions to the moon place the funding of Dogecoin at $225 million.

    The CEO of SpaceX, Elon Musk, has been designated as the “Dogefather” because of his vocal support of the cryptocurrency. Elon Musk has sent the cryptocurrency surging upwards quite a few times. Musk has also been accused of market manipulation and even threatened with an SEC inquiry, But the CEO had remained undeterred.

    However, there has been a recent shift in the tone of Elon Musk. It appears as though the billionaire CEO has grown tired of the cryptocurrency and has moved away. Recent statements of Musk show that he will no longer be supporting Dogecoin – which is very unpleasant news for the Doge community. Prior to his appearance on Saturday Night Live, Musk told reporters that no more pumping tweets for Dogecoin should be expected from him.

  • Elon Musk turned bearish on Dogecoin (DOGE)?

    Dogecoin (DOGE) the meme cryptocurrency had become an internet sensation partly due to the hype created around it by Tesla CEO Elon Musk. Musk had been named the unofficial ‘Doge father’. The billionaire CEO had been an ardent supporter of the cryptocurrency and had played a key role in the surge of the cryptocurrency.

    Musk had been consistently posting tweets on his Twitter handle which has resulted in volatile surges of Dogecoin. Tweets that depict Doge to the moon have been responsible for the cryptocurrency’s higher highs. Dogecoin had started off as a joke between two engineers and the cryptocurrency was nearly dead prior to the bull run of 2021. But, Dogecoin surged around 14000% in 2021. The upward move of Dogecoin has been regarded as similar to the GameStop fiasco.

    The role of Elon Musk in the hype of Dogecoin had been criticized by many citing Dogecoin does not really have any intrinsic value and Elon Musk and the likes are manipulating the market. Musk had also been advised to take a back seat as his twitter feed may warrant a SEC probe.

    Musk is set to appear on Saturday Night Live (SNL) and the appearance has been regarded as one of the most anticipated moves by the Dogecoin community as Musk is expected to vocalize his support for the cryptocurrency on a more official platform.

    However, the billionaire CEO may have turned bearish on his favorite meme crypto. Hours ahead of his SNL appearance, Musk had reminded the masses that cryptocurrencies are primarily speculative and it is not at all advisable to invest one’s life savings in something mere speculative. The Tesla owner has also commented to not be hoping for any more price pumping posts from him.