Yet again the history appears to have mirrored as Dogecoin price showcased its just not independent. No sooner, Tesla CEO Elon Musk seek an update from Binance CEO CZ on Dogecoin holders than, DOGE price surged. Binance had some issues regarding the Dogecoin withdrawals and hence Elon sought the update.
Binance exchange recently underwent an upgrade and due to which old transactions were resent to nearly 1674 users. The issue was registered only on Binance and not other platforms as they have a separate technical wallet for DOGE. The platform said it’s working to fix the issue. And also urged to return the old transactions received by the users.
In the meantime, Elon Musk jumped in the ring to know the updates and as usual DOGE price registered a notable huge green candle. Further, replying to Binance official clarification, Elon Musk said the DOGE holders on Binance should be protected.
Further, the CEO of Binance, Changpeng Zhao(CZ) shared some information about what exactly happened with DOGE. And also said that Binance is pretty transparent, not Shady as mentioned by Tesla CEO, Elon Musk. Both influential people shared some war of words with respect to the Dogecoin transactions and the DOGE price appears to have got benefitted.
Dogecoin Price Rally Fades Within Minutes
It’s become very much common for the DOGE price to get a sudden boost in order to break the narrow trend. And as each time, Elon Musk stood for the asset to generate some volatility. But like each time, this time also, the rally ended within minutes and the DOGE price failed to break the upper resistance at $0.2356.
It appears that many traders are done with the sideway trend of the asset and are waiting to just close their positions with just a spike. Many expect the price to hit new ATH around $0.8 en routing through $0.4 resistance levels. But the asset is not able to sustain the sudden boosts as traders are happy with minor profits.
And above all the bearish trend of the popular cryptos like Bitcoin has outspread misty clouds over the bull rally. However, the narrow trend is expected to fade very soon as December could be more flourishing. And hence Dogecoin(DOGE) price could also barge in following the bull rally 2021 2.0.