💸 #Bitcoin traders are profit taking, as growth in existing wallets with more than 0 $BTC has slowed. Meanwhile, #Dogecoin wallets are surging and #Cardano wallets are dropping in number. Drops are a sign of capitulation, often foreshadowing price jumps.

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Dogecoin is on fire today, gaining almost +20% and becoming top-1 mentioned coin in Top Social Trends. The reason is Elon Musk changing the Twitter logo to Doge. A glimpse on how dominant the whole topic was on Tuesday is below:

We might also observe this as a strong spike on the social volume chart:

And this seems to be quite a bearish sign because of the following as well:

1. Historically a coin on top of social trends is almost done, we've proved it here:

https://insights.santiment.net/read/peak-hype-backtesting-the-impact-of-social-media-on-cryptocurrencies-weekly-pro-report-6241

2. A DOGE pump itself is often a leading indicator to a market correction:
https://insights.santiment.net/read/doge-a-perfect-leading-indicator-7122

References:

• Robinhood and wallets - https://finance.yahoo.com/news/robinhood-cryptocurrency-wallet-test-october-190030675.html
• Evergrande - https://coingape.com/china-injects-19-billion-to-bail-out-evergrande-heres-how-crypto-market-can-benefit/
• DOGE - https://www.forbes.com/sites/lisakim/2021/09/22/amc-ceo-adam-aron-suggests-hell-add-dogecoin-as-payment-option/
• Banks - https://www.reddit.com/r/CryptoCurrency/comments/ptj0oy/elizabeth_warren_says_that_the_crypto_is_rife/

References:

• China, Chinese - https://decrypt.co/74094/china-central-bank-calls-broader-crypto-crackdown

Elon's tweet: https://twitter.com/elonmusk/status/1400620080090730501

References:

• DOGE, Coinbase - https://blog.coinbase.com/dogecoin-doge-is-launching-on-coinbase-pro-1d73bf66dd9d
• Bike - https://twitter.com/CryptoCobain/status/1400186484297285637
• Greg - https://www.reddit.com/r/dogecoin/comments/nqv8tv/greg_has_my_full_support_do_you_support_greg/
• AMC - https://wtop.com/business-finance/2021/06/amc-looks-to-keep-in-closer-contact-with-its-investors/

References:

• DOGE, Coinbase, Pro, Dogecoin - https://blog.coinbase.com/dogecoin-doge-is-launching-on-coinbase-pro-1d73bf66dd9d
• Greg - https://www.reddit.com/r/dogecoin/comments/nq3b65/this_new_fake_ceo_is_awesome_all_hail_greg_master/