Analysis Crypto by Thebittimes.Com

With Halloween 2022 almost coming to end, Elon Musk—the current sole director of social media giant Twitter—tweeted a picture of a Shiba Inu dog and a pumpkin. Both the focal subjects in the frame had one thing in common—the Twitter logo. The former wore apparel featuring the blue ‘freed’ bird, while the latter depicted a luminescent version of the same. 😉 pic.twitter.com/eaIYaDRBnu — Elon Musk (@elonmusk) November 1, 2022 It is a known fact that Elon Musk is fond of cryptos like Dogecoin and Shiba Inu. In fact, he has already given himself the title of “DogeFather” in the past. As expected, the prices of tokens belonging to the meme basket started rallying right after the tweet was posted. Dogecoin’s reaction was outright. As illustrated below, the trend was quite monotonous on the minute chart. However, the same minute the tweet was out, DOGE registered an unconventionally long green candle. It continued risi...

Source: AdobeStock / Ascannio Major crypto exchange Binance has put half a billion US dollars towards Tesla chief Elon Musk’s Twitter takeover.  Responding to reports about the exchange possibly still backing the much-discussed Twitter deal, Binance CEO Changpeng 'CZ' Zhao tweeted today (UTC time): "Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter." CZ was referring to a question asked in Saudi Arabia, where he was attending a conference, about whether he'd stand by the financial commitment to Musk.  According to Bloomberg's report on Tuesday, the CEO replied, "I think so." CZ further commented on the deal in his tweets yesterday, with some well-known players in the industry supporting the deal as well, such as crypto-asset trader and Blockroots founder Josh Rager. Bloomberg quoted CZ as saying that, “We aim to play a role in bringing social media and Web3 together in o...