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On April 7, the Russian Foreign Ministry issued a statement on the situation in the Middle East on April 6, local time. The statement noted that the large-scale international crisis triggered by the illegal and unprovoked attacks on Iran by the United States and Israel continues to escalate and deepen. The statement said that the intensity and destructiveness of the attacks are constantly escalating, targeting not only military facilities but also civilian infrastructure and an increasing number of nuclear facilities protected by the International Atomic Energy Agency. Russia reiterated its strong call for an immediate cessation of military action. Russia believes that the opportunity to resolve the conflict through political and diplomatic means still exists. All parties must abandon threats, unacceptable insults, and ultimatum-like language, and refrain from actions that could plunge the entire region into irreversible chaos. Preventing the destruction of the remaining opportunity to seek a political and diplomatic solution through negotiations is crucial. Russia calls on the UN Security Council to give full consideration to this situation in its work.Shares of United Parcel Service (UPS.N) fell 1.3% after news broke that Amazon had reached a delivery agreement with the U.S. Postal Service.Israel Defense Forces: The top general has approved action against Iran for the next three weeks.Sources say the agreement between Amazon (AMZN.O) and the U.S. Postal Service is expected to enable the retailer to ship more than 1 billion packages annually through the U.S. Postal Service, representing 80% of its existing business.Ukrainian President Zelenskyy: All the profits Russia gains from rising oil prices will be used for this war. Therefore, any measure to restrict Russias oil export capacity is justified.

DOGE Return to $0.100 Hinged on the Fed Despite Musk Support

Jimmy Khan

Feb 02, 2023 15:46

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On Tuesday, Dogecoin (DOGE) gained 8.60%. After losing 1.78% on Monday, DOGE gained 36.95% to $0.0960 before the month's conclusion.


After a choppy start to the day, DOGE fell to an early low of $0.0881 before moving. The price of DOGE increased to a late high of $0.0980 while avoiding the First Major Support Level (S1) at $0.0844.


Prior to easing back, DOGE broke through the First Major Resistance Level (R1) at $0.0926 and the Second Major Resistance Level (R2) at $0.0969.


Tuesday saw a rise of 2.52% for the Shiba Inu Coin (SHIB). SHIB closed the month up 46.34% at $0.00001181, partially correcting a 4.56% decline from Monday.


Following the general market, SHIB dropped to an initial low of $0.00001144 before acting. SHIB rose to a morning high of $0.00001199 after avoiding the First Major Support Level (S1) at $0.00001110. SHIB failed to surpass the First Major Resistance Level (R1) at $0.00001204 and retreated to below that level before gaining late support.

The US Economic Indicators and Elon Musk provided a pre-federal boost

The larger cryptocurrency market was left to give guidance since the Shibarium Network did not release any updates to support a SHIB breakthrough. The Shibarium upgrade continues to be the major factor driving SHIB, and bulls are anticipating a breakout in SHIB due to decreased transaction fees, faster transaction speeds, and higher burn rates.


DOGE, though, appreciated a rally supported by Elon Musk. Investors responded to Elon Musk's demand that DOGE be included to the Twitter payment system. Elon Musk's increased backing and the intentions to include DOGE as a payment option make the November 2022 high of $0.1589 relevant. The lack of activity on Twitter and the demise of FTX had sent DOGE to a low of $0.0660 on December 30.


A positive DOGE outlook is presented by the decreasing FTX contagion risk and the DOGE payment option on Twitter.


The NASDAQ Index and US economic data both played a role in the breakout session. Fears of a hawkish Fed Chair Powell conference later today were allayed by US economic figures. With the US employment rate at 3.5%, which is well below the Fed's 5% mandate, uncertainty yet persists.


Investors may get alarmed if the Fed Chair adopts a hawkish stance and advocates accelerating rate increases at the cost of the US economy.


Network upgrades, however, will continue to be of interest. Investors should follow the Dogecoin Foundation, Elon Musk, and the Shibarium Network on Twitter and the cryptocurrency news wires for developments.



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