$DOGE jumped as much as 5% on the back of the Twitter's rebranding, despite the downturn in the broader market with $BTC slipping to $29K. By shauryamalwa.
. Musk added dogecoin’s ticker logo to his bio early on Monday, spurring speculation of dogecoin playing a bigger role in the rebranded company.– were liquidated in a single hour on bitcoin-tracked futures, which may have contributed to the sudden decline.
Large liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly. Meanwhile, analysts said the lack of bullish news and a generally quiet summer may further weigh into bitcoin prices, with some targeting the $27,000 level.
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