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Honda expects to incur expenses of up to 2.5 trillion yen due to a reassessment of its electric vehicle strategy, joining the ranks of global brands severely impacted by setbacks in their electric vehicle transition. The company announced on Thursday that it will cancel plans to develop and launch three electric vehicle models in the North American market. Honda projects a loss of between 270 billion and 570 billion yen for the fiscal year ending in March. Just last month, Honda warned of surging expenses related to its electric vehicle business, and its latest outlook aligns it with some of the industry giants. Stlandis stated that the company will incur more than 22 billion euros in expenses, primarily due to the shift in its electric vehicle strategy; Ford also announced losses of $19.5 billion from its business restructuring.In light of the unusual market volatility, Total Energy is taking steps to protect consumers at its French gas stations.Honda Motor Co. has cancelled the launch and development of certain electric vehicle models in the North American market.On March 12, RBC Capital Markets stated in a report that it expects the European Central Bank (ECB) to be very cautious at next weeks meeting, discussing multiple scenarios and clearly indicating that all options are open to the ECB. The institution stated, "We maintain our forecast of no rate hikes this year, but we are prepared to adjust these views if the situation in the Middle East becomes clearer and more assessable." According to data from the London Stock Exchange Group, the money market is currently pricing in a 40 basis point rate hike in 2026, with a full rate hike expected in July.On March 12th, Liu Jizhong, a National Peoples Congress (NPC) deputy and chief designer of the Tianwen-3 mission, stated during the Two Sessions that my countrys deep space exploration is progressing according to plan. Last year, Tianwen-2 was successfully launched, embarking on its "star-chasing" journey. It has already traveled approximately 700 million kilometers and will arrive at asteroid 2016HO3 this year to begin its accompanying exploration. This year, the plan is to launch Change-7, primarily to conduct in-situ scientific and resource exploration at the lunar south pole, forming a comprehensive lunar south pole orbiting, landing, roving, and flyby exploration system.

Price Action in DOGE and SHIB Determined by Twitter and Elon Musk News

Daniel Rogers

Nov 07, 2022 17:53

 截屏2022-11-07 下午5.45.11.png

 

Sunday was a bearish session, with dogecoin (DOGE) falling for the fourth time in five sessions. The news that Twitter halted its crypto integration plans continued to weigh on the market, with bearish sentiment in the broader market contributing to the decline. However, technical indications remained optimistic, requiring a rebound to $0.15 for DOGE investors to retarget $0.20.

 

On Sunday, dogecoin (DOGE) lost 7.79% of its value. Following a loss of 1.33% on Saturday, DOGE closed the week at $0.1148, down 2.54%. Notably, DOGE avoided falling below $0.10 for the ninth session in a row.

 

After a range-bound morning, DOGE surged to a high of $0.1277 by early afternoon. DOGE fell to a final-hour low of $0.1119, failing to surpass the First Major Resistance Level (R1) at $0.1335. At $0.1177, DOGE fell through the First Major Support Level (S1). DOGE found support at the Second Major Support Level (S2) at $0.1110 and closed at $0.1148.

 

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On Sunday, the value of Shiba inu currency (SHIB) decreased by 4.98 percent. Following a loss of 0.40% on Saturday, SHIB closed the week at $0.00001184, down 0.67 percent.

 

SHIB surged to a high of $0.00001290 in the early afternoon hours, mirroring the price of DOGE. SHIB failed to surpass the First Major Resistance Level (R1) at $0.00001305 and fell to an intraday low of $0.00001175. SHIB dropped below the First Major Support Level (S1) at $0.00001201 and closed the session at $0.00001184.

 

The crypto news wires were again silent on that day. The absence of news placed Twitter (TWTR) and Elon Musk in the spotlight.

 

The news that Twitter halted development of a crypto wallet to accommodate DOGE and other cryptocurrencies was unfavorable for DOGE. DOGE and SHIB have also been negatively impacted by investor opinion about Elon Musk's post-acquisition modifications.

 

Advertiser defections pose the possibility of precipitous income stream declines, which could damper the optimistic outlook for DOGE adoption. It is also unknown how the increased $8 cost for the coveted blue check verification marks would affect user numbers.


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