Musk’s New Tweet Triggers Amazing 14 Times Price Spike on Floki-themed Cryptocurrency
SpaceX and Tesla CEO Elon Musk tweeted photo of a new Shiba Inu puppy on Sunday with the caption ‘Floki has arrived’.
Earlier at the end of June, Elon Musk tweeted that he would name his new pet dog Floki which went viral soon online and spawned various Floki-themed altcoins.
Unbelievably, Floki-themed altcoins has seen a spike following Musk’s tweet.
The biggest gainer was Shiba Floki that saw a surge of a 1406.37% within 24 hours to US $0.000000008379. In the last week, Shiba Floki has risen by 1036.14%.
Another crypto, Floki Inu has surged 104.15 percent to US $0.00003291 in the last 24 hours,with an ever new high of 0.00004065. In the past week, Floki Inu has gone up 68.72%.
Dogecoin recorded a mere 2.82% change on Sunday and fell by 20.72% during last week.
At the same time, Baby Doge rose by 0.76% in the past 24 hours and slide by 26.66% in the week before.
Technical Analysis
Gold
From the 4hour chart, gold punched down back 1784–1833 range with the lower support of 1784. It is advised to operate within the range, long at current 1790 and stop loss below 1784. Investors can continue to hold gold bullish until 1833, If gold breaks through it may drop to 1775.
S&P 500
S&P 500 has kept in the rising trend, but it began to test the trend line. Though the current price is above trend line but it has seen multiple top divergence in the sky chart. If S&P 500 fell below the trend line, it may cause sharp plunge with the support of 4240 below. Even this comes true, S&P 500 may have larger possibility to hit record high. It is advised to wait and observe the further S&P 500 performance.
BTC
BTC plunged at high level last Tuesday after short-term rise and stop drop at Fibonacci 0.382. It has now above 44,000 but has a sign for further test or breakthrough with support below at 41,000 and 38,000. In operation, investors are recommended to sell short when BTC retraced to 46,000, stop loss at 475,00 with an expect that it may drop to 41,000.
Above is merely personal opinion for reference only
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Doctor Page, guest commentator of Fish.Pro, creator of Time-Space Psychological Trading Method, has 8-year rich experience in investment with unique trading knowledge and strategies. Focusing on dynamic changes of global financial market, Doctor Page is proficient at technical analysis on multi-national policies of central banks as well as basic economic environment and is highly sensitive to both short-term and mid-line markets with a favor on trade models featured by small costs, hefty returns and high chance for success.
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