Doge Holders!! Don’t Panic and BUY MORE Dogecoin Before It’s Too Late!!
After a tweet from supporter Elon Musk and the announcement that Tesla and Coinbase will list the meme inspired cryptocurrency. Dogecoin soared after Elon Musk said he was working with the cryptocurrency developers to boost its payment performance following Musk’s tweet.
Dogecoin will be sent to the moon in 2022 on a SpaceX rocket
The cryptocurrency, which was created as a joke in 2013, jumped over 30 percent on Friday morning. Dogecoin price reached as high as 56 cents at about the same time as his Dogecoin tweet. The increase in interest in Dogecoin started in early 2021, and the study looks at what sparked it as per the findings of the study.
However, due to environmental issues, he recently declared that Tesla would no longer accept Bitcoin as payment for their cars. Tesla CEO Elon Musk slammed crypto mining in the wake of the company’s decision to stop accepting Bitcoin payments for Tesla vehicles.
Musk expressed concern about a huge increase in the use of coal and other carbon intensive resources to reduce the electricity use to mine digital currency. Since the beginning of the year, Dogecoin has risen over 1500 percent, thanks in large part to Musk’s attention.
According to coin market, it is currently the fourth most valuable coin, with a market cap of more than 70 billion dollars. Doge will be sent to the moon in 2022 on a SpaceX rocket. Dogecoin price has risen by more than 12,000 percent in the past year.
Dogecoin has remarkably good fundamentals
Researchers have released a study claiming the meme coin has remarkably good fundamentals and cautioning that it should not be ignored. Dogecoin is currently trading just below 0.597 dollars, a substantial amount that would validate Doge bullish intentions.
It is poised to race to the hundred and 38.2 percent of the April decline at 0.711 dollars. Doge investors are vulnerable if the price falls below 0.371 dollars as there is no reliable support until 0.138 dollars.
The April 16th high increases the chances that Dogecoin will form a more complex bottom. So far this year, Dogecoin has increased by over 8000 percent and is still one of the cheapest coins to purchase.