CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
No Result
View All Result

Tesla Shifts Gear in 2024: Will it Have a Ripple Effect on Dogecoin?

December 28, 2023
in Coins, Market, News
A A
Dalintis FacebookDalintisShare on Twitter

Tesla’s recent business forecast is enough to spark discussions about its potential impact on Dogecoin’s price in 2024. Elon Musk, often dubbed the ‘Dogefather’ and known for his influence on the coin’s value, is facing competition in the auto sector.

Tesla’s business dwindled to competition

Bloomberg recently reported that Tesla is giving its popular model ‘Model Y’ a makeover at its China plant. As per the report, the electric car giant is planning mass production of the SUV by mid-2024. Meanwhile, Morgan Stanley’s Adam Jonas anticipates 2024 to be challenging for Tesla’s auto segment.

Another report by Business Insider reveals that Chinese car manufacturer BYD is expected to surpass Tesla as the world’s largest EV maker based on upcoming Q4 data, adding another layer to this story.

DOGE’s derivative market and price action

Turning to Dogecoin’s performance, CoinGecko outlines a lukewarm price action in the last two weeks. At press time, the DOGE price is mute with slight gains over 24 hours. However, it continues to hold a significant market cap of $13.24 billion, despite being 87% away from its record peak of $0.73 achieved in May 2021.

But the derivatives market reveals some profit-taking. Based on data from Coinglass, Dogecoin shows a 29% decline in volume and stands at $735 million. With some increase in open interest, the long/short ratio stands at 0.9677. This signifies that there are slightly more accounts with short positions than with long positions on Dogecoin, but overall, it’s a neutral market.

What is noteworthy is a Whale Alert signal that recorded a transfer of 71 million DOGE, worth approximately $6.39 million, from an unknown wallet to Robinhood on Tuesday.

Tags: CoinGeckoDogecoin

Related

XRP Surges Past Corporate Giants as $6 Price Target Looms

September 14, 2025

XRP has overtaken the market capitalizations of Shopify, Verizon, and Citigroup, positioning itself as a top-tier global asset. According to...

Bullish Breakout Looms for Pi Coin

September 13, 2025

Pi Coin has captured renewed interest following its testnet upgrade to version 20, which coincided with a bullish chart pattern....

Hash Rate and Mining Difficulty Reach New Peaks Amid Rising Miner Holdings

September 12, 2025

Following a strong price rally that pushed Bitcoin to a two-week high, the network’s hash rate and mining difficulty have...

DOGE Eyes the Dollar Mark Amid ETF Buzz and Derivatives Surge

September 11, 2025

Dogecoin climbed 1.5 percent on September 10, reaching $0.25 and marking a 72 percent rebound from its June low. This...

Exploring Privacy in Crypto: SEC’s Upcoming Roundtable

September 9, 2025

The U.S. Securities and Exchange Commission has officially scheduled its next crypto roundtable for October 17, 2025. This event will...

News

Mining

Malaysia’s Crypto Mining Boom: Legal vs Illegal Operations

June 9, 2025
Business

Nasdaq Pushes for Blockchain Integration in U.S. Markets

September 8, 2025
Coins

Pepe Coin Explained: From Meme to Market Mania

June 29, 2025
Reviews

PENGU Coin: From NFT Hype to Utility Powerhouse

August 31, 2025
Asset 1CryptoNow
Categories
  • AI
  • Blockchain
  • Business
  • Coins
  • Finance
  • Interesting
  • Market
  • Mining
  • News
  • Regulation
  • Reviews
  • Technology
Tags
AI AI Browser Altcoin Android Binance Binance Coin Bitcoin blockchain BONK BTC Chainlink ChatGPT Circle Coinbase Coindesk crypto Cryptocurrency Crypto exchange DOGE Dogecoin ETF ETH Ethereum Google Halving MARA Memecoin Meta Mining Mobile OpenAI pengu Pepecoin pi coin pi network Ripple Samsung SHIB Shiba Shiba Inu Solana Stablecoin technology vpn XRP
  • Newsletter
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Market
  • Coins
  • News
  • Mining
  • Technology
  • Blockchain

CryptoNow.