Dogecoin Is Elon Musk’s Favorite Cryptocurrency, Here’s Why | https://tin360.net

Billionaire Elon Musk has been Dogecoin ’ s biggest garter, and he has not been diffident to say it. It was indeed the SpaceX CEO ’ s tweets that triggered the bull rally that saw the meme coin hit a high of $ 0.7 last year before starting its slow downtrend. however, even with the fact that Dogecoin has apparently lost most of its gained value, Elon Musk has not relented on his support for Dogecoin and explained why he loves it in a recent podcast .

What’s Not To Love?

Elon Musk was a guest on the “ Full Send ” where he talked about cryptocurrencies and Dogecoin in detail. The billionaire revealed that he was still strongly in subscribe of the meme mint and took it a step far to explain why he was such an avid assistant of it .Related Reading: Ethereum Founder Vitalik Buterin Just Dumped 25 Trillion Tokens From This Project According to Musk, he chiefly likes Dogecoin due to the root behind it. It is no hidden that the meme culture around the cryptocurrency had played an authoritative function in its meteoric arise second in 2021. It besides happens to be Musk ’ s favored thing about the cryptocurrency, explaining that it has “ memes and dogs. ” The chase part of this is just as big, given that Elon Musk himself has a Shiba Inu darling, which is the celebrated dog associated with the mint .
Dogecoin price chart from TradingView.com

DOGE trending at $0.068 | Source: DOGEUSD on TradingView.com

The developers behind the cryptocurrency have besides been doing their best to develop the meme mint, something that Musk has been in full support of. Dogecoin has made it onto the limelight by being accepted as a modality of requital, among other things .

Dogecoin Struggles To Hold Price

One thing that has faded over time is the impact that Musk ’ randomness comments had on the price of Dogecoin. At the height of the bull run, every time the billionaire said or did something in relation to Dogecoin, the price soared enormously .
This has now changed in the fact that Musk ’ s actions nobelium longer hold much swing over the digital asset ’ second price. An example is when he announced that his Boring caller would be accepting Dogecoin for underground rides in Vegas, the price responded in a disappoint means. such as been the font at different times in the past.

Related Reading: Here’s When A Finder’s Panel Of Experts Expect Dogecoin To Reach $0.6

Dogecoin has recently taken another reach. The digital asset had fallen to 10th rate on the list of largest cryptocurrencies, which it had held for a while. however, it has now fallen to 11th place after Polkadot made a remarkable convalescence and surpassed the commercialize detonator of DOGE .
Doge ’ sulfur price continues to course around $ 0.06, and while investors hold out hope that the meme mint will stage a recovery soon, a Finder ’ south gore has forecasted that Dogecoin may not be seeing its former ATH for the future five years .

Featured image from, chart from TradingView.com

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source : https://tin360.net
Category : COIN

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