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Dogecoin dumps following mention from Elon Musk on Saturday Night Live

Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump.

First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk’s mother, who joined him onstage and asked if her Mother’s Day gift would be Dogecoin; Musk replied that it would be. 

In the minutes afterwards, $DOGE dumped upwards of 25%, falling as low as $.50 from $.66 highs at the start of the show. It has since partially recovered, trading at $.52 at the time of publication.

An hour before the episode began, the price of DOGE sat at $.66, down from an all-time high of $.72. A pair of bearish headwinds may have shared responsibility for the pullback: Musk himself seemed to try and get ahead of the hype, urging followers in a Tweet to “invest with caution,” and a host of new data indicates that many investors may be rolling their DOGE profits into other, largecap digital assets. 

Additionally, Barry Silbert — the founder and CEO of Digital Currency Group, the parent company of crypto investment vehicle company Grayscale — announced a public short on DOGE via the FTX exchange. In a series of follow-up Tweets, he revealed that the position was $1 million in size, and that any proceeds or remaining funds after closing the short would be donated to charity. 

(It’s unclear if Silbert was is using “we” in reference to Digital Currency Group, one of its portfolio companies, or is simply and bizarrely using a plural pronoun in reference to himself). 

Many DOGE investors were nonetheless holding out hope for a high-profile shoutout on what looked to be a major pop culture event. NBC, the studio behind SNL, chose for the first time ever to live-stream the episode on Youtube, per the Wall Street Journal.

Even a mention could have significant impact on the price of DOGE as well: the meme currency has proven to be susceptible to price movements based on positive social media volume, and multiple studies have shown that Tweets from Musk often lead to price appreciation. A mention on an even bigger platform was thought to potentially lead to even greater gains. 

Leading into the premier of the episode, Alameda Research trader Sam Trabucco (who said in a previous Tweet that he was “studying the typical SNL episode structure to try and understand when a DOGE mention would be the most natural”) speculated that if a joke or mention didn’t come in Musk’s opening monologue, it would be “all over.”

Despite arriving during the monologue, traders nonetheless responded negatively. It remains to be seen if a DOGE-centric skit later in the show can perhaps turn the speculative asset’s fortunes around.

Dogecoin dumps following mention from Elon Musk on Saturday Night Live

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Brazil based Fintech Ebanx Appoints Company Co-Founder João Del Valle as New CEO

João Del Valle, Co-founder at Ebanx, is the new Chief Executive of the firm.

After working as COO for several years, preceded by nearly seven years as company CTO, Del Valle has now taken over the executive leadership of the Fintech firm, which was being led by Co-founder Alphonse Voigt for nearly a decade (since it was established in Curitiba, Brazil).

With this senior management change, Voigt will be serving  as the Head of the Board of Directors, as Executive Chairperson, and Wagner Ruiz, also a company Co-founder, is now the Chief Risk Officer, leaving the CFO role to the newly appointed Alexandre Dinkelmann, the former executive in the Brazil-based BTG Pactual and TOTVS.

As COO, Del Valle led key initiatives for the Fintech firm’s business expansion, like the ensemble of the international commercial team, the deployment of 50 new integrations and payment methods within the firm’s B2B solutions portfolio (last year), and the Push LatAm, a project that aims to establish EBANX business operations in various other Latin American (LatAm) countries, including in Central America and the Caribbean.

Del Valle stated:

“EBANX has a unique story and it will be a privilege to lead this next chapter. Our vision of being the best payment provider in Latin America is growing stronger, and always fueling the urge to innovate. The path we want for EBANX is very clear for the three of us, co-founders: focus on the mission of providing access in Latin America, through technology, speed, consistency and quality of execution.” 

Voigt has been EBANX‘s Chief Executive since the launch of the firm which, during his time as CEO, surpassed the market value of $1 billion, notably becoming the first unicorn in Brazil’s southern region.

Now, as Executive Chairperson, Voigt will be in charge of the firm’s strategic expansion efforts.

Voigt remarked:

“The big dream got even bigger and from now on I take on this new position, helping to envision the next decade of EBANX. And João, our new CEO, is an example of dedication, focus and result orientation. He has a unique capacity to keep the company growing exponentially while projecting our future.”

Alexandre Dinkelmann, who has now been appointed CFO, will continue the work of Wagner Ruiz, who will now be tasked with the firm’s risk management, strategic partnerships and regulatory issues – which are all key in driving the growth of EBANX.

Ruiz added:

“Alexandre’s arrival brings us even more robustness, capacity and talent to maintain the pace of growth and adapt our financial sector to the new moment that EBANX will experience.”

Dickelmann brings his extensive experience working as CFO at TOTVS and Even Incorporadora, along with his previous experience at BTG Pactual and also his role as a Co-founder of the Onyo platform.

The new EBANX senior management team aims to consolidate the company as a key payments service provider in Latin America.

EBANX will further expand its operations that have provided access to over 70 million Latin American consumers to the biggest global brands, like Uber, Spotify, AliExpress and SHEIN.

Del Valle also mentioned:

“These changes arrive in line with our goals for the next decade. Our success depends on the success of customers in the region and this is our focus. We remain even stronger and more structured to establish the leadership of Latin America in the global market and the leadership of EBANX in the world of payments and technology.” 

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Bitcoin (BTC) Price Prediction: BTC/USD Consolidates Above $50,000 Support; Can Bulls Resume The Rally?

Bitcoin (BTC) Price Prediction – April 29, 2021
Bitcoin faces rejection from the $56,000 resistance zone after three days of fluctuating below it. Bitcoin is in a downward move after rejection from the recent high. The bears have also broken the $54,000 support level which is an indication of a further downward move.

Resistance Levels: $65,000, $70,000, $75,000
Support Levels: $50,000, $45,000, $40,000

BTC/USD – Daily Chart

Following a stiff resistance at the $56,000 high, Bitcoin has dropped sharply to $52,000 low. The downtrend was accelerated because the bears broke the $54,000 supports. As price breaks the $54,000 support there is every indication that the decline will continue to the previous low at $48,000 support. BTC/USD will undergo an acid test above the $48,000 support. The bulls have been defending the support level since February 22. The bears attempting to break the psychological price level which will pave the way for a further downtrend. However, if Bitcoin loses the $48,000 support, the BTC price will fall into a deeper correction. Buyers have lost the $54,000 support; therefore there is a likelihood of a further downtrend. Today, Bitcoin is trading at $52,896.10 at the time of writing.

Bitcoin (BTC) Indicator Reading
Bitcoin is at level 44 of the Relative Strength Index period 14. It indicates that BTC price is in the downtrend zone and capable of falling on the downside. The king coin has fallen below the 20% range of the daily stochastic. This implies the crypto has fallen into the oversold region of the market. In the oversold region, there is likely to be the emergence of buyers to push prices upward. The crypto’s price is breaking below the support line of the ascending channel. The selling pressure will resume if price breaks and closes below it.

BTC/USD – 4 Hour Chart

On the 4-hour chart, the BTC price has fallen to the support of the 50-day SMA. If the support holds, the uptrend will resume. Nevertheless, if the bears break the $48,000 support, the price action may retest the Fibonacci levels. That is, on April 18 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that Bitcoin will fall to level 1.618 Fibonacci extension or the low of $41,660.00.

Bitcoin (BTC) Price Prediction: BTC/USD Consolidates Above $50,000 Support; Can Bulls Resume The Rally?

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Your future at stake: Uni of Wyoming allocates $4M to staking three coins

The University of Wyoming is allocating $4 million to running nodes and staking at least three cryptocurrencies.

The news was shared to Twitter on April 28 by Caitlin Long, a Wyoming Blockchain and Fintech Select Committee appointee and founder of Avanti Bank & Trust — a local bank servicing the digital asset sector.

The documentation posted by Long notes the University appropriated $4 million from the state’s strategic investments and projects fund to establish, operate, and maintain “nodes and staking pools for no less than three publicly tradable cryptocurrencies.”

The revenues generated by the University’s staking pools will first be mobilized to cover operational costs, and then to repay the $4 million to the state’s investment fund. Once the investment has been repaid, profits from the University’s staking will be distributed “to support blockchain programs and activities at the university and community colleges throughout the state.”

The expenditure of profits generated through staking is conditional on the University matching every $1 appropriated from the investment fund with at least $2 in either private donations or from the campus’ reserve accounts.

Chris Rothfuss, the senate minority leader of the Wyoming Legislature and Chairman of the state’s Blockchain and Fintech Select Committee, praised the committee’s “herculean effort” in getting the legislation passed.

Many Twitter users have responded to Long’s post with speculation that Cardano (ADA) may be one of the assets the University is intending to stake.

One commenter shared a link to information on a staking pool identified by CardanoStaking.info as being operated by the University of Wyoming’s Advanced Blockchain Lab. As of this writing, the pool has minted less than 10 blocks, and has pledged roughly $60,000 worth of ADA.

In February 2020, IOHK, the company behind Cardano, donated $500,000 worth of ADA to the university’s blockchain lab to advance its research.

Your future at stake: Uni of Wyoming allocates $4M to staking three coins

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Bitcoin Price Prediction: BTC/USD Slumps Below $55,000, Can Bulls Bounce Back?

Bitcoin (BTC) Price Prediction – April 28

Bitcoin price is struggling to recover above $54,800 as the coin remains at a risk of a larger breakdown below the $50,000 support.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $62,000, $64,000, $66,000

Support Levels: $48,000, $46,000, $44,000

BTCUSD – Daily chart

BTC/USD bulls are about finding higher support for the king crown. However, the Bitcoin price is back under $55,000 and currently changing hands at $54,630. In this same manner, the price of Bitcoin moves within the 9-day and 21-day moving averages within the channel.

Will BTC Break the Resistance Level of $56,000 or Reverse?

Looking at the daily chart, an upside break above the 21-day MA is a must to start a substantial recovery. Meanwhile, the next hurdles may be seen near the resistance levels of $62,000, $64,000, and $66,000. On the downside, initial support is near the $52,500 level and if there is a successful break below the support level of $50,000, bears are likely to gain strength by bringing the price to a low of $48,000, $46,000, and $44,000 respectively.

Currently, the Bitcoin price is following a sideways movement and a glance at the technical indicator RSI (14) displays a negative picture for BTC in the near term. In addition, maintaining a sideways movement in the negative region, the signal line of RSI (14) is still moving below 50-level, suggesting a bearish signal.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

On the 4-Hour chart, BTC price hovers around $54,840 and may take time to persistently trade above $55,000 as the price crosses below the 9-day moving average. However, if the buyers gather enough strength, the upward movement may be able to near the $58,000 and $60,000 resistance level.

BTCUSD – 4 Hour Chart

On the downside, the immediate support is around the $53,000 level while the main support is at the $54,000 level. The price may likely slide below the moving averages if the bears step back into the market, a further movement could test the critical support at the $52,000 level and below. Nevertheless, Bitcoin is currently moving in sideways while the technical indicator RSI (14) moves below 60-level, indicating a bearish signal.

Bitcoin Price Prediction: BTC/USD Slumps Below $55,000, Can Bulls Bounce Back?

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