The Top 4 Reasons Dogecoin Mooning Next Week!!
The chances of dogecoin mooning are pretty much high, with investor sentiment utterly positive towards Dogecoin. Right before it moons is when an investor can truly benefit from it. If it manages to surpass the one dollar mark, we could ultimately see the coin enter into the top five crypto currencies in the world.
Despite the heavy correction of all the other cryptos in the market, it has grown swiftly in the space of three weeks, from five cents to a whopping All-Time high of thirty one cents on its chart. This totals a growth of about five hundred and twenty percent in that time space.
Elon Musk, the billionaire who founded Tesla and SpaceX loves Dogecoin
Elon is one of the biggest backers of Doge and occasionally tweets funny memes about this crypto. Recently, Elon not only was posting heavily, but he also promised to take a Doge coin flag to outer space.
In the past seven days, dogecoin was clearly the winner as its stock price rose in tandem with the whole crypto market. In other news popping up on Doge Day, retailer Newegg made an announcement that their tech based startup will start accepting Doge coins as payment. Dogecoin holders can now shop online for tech stuff.
The company has a long history of being crypto friendly and this is not so surprising. Mark Cuban and Latvian airline Air Baltic are the two other major companies to have done this. Elon Musk keeps driving interest towards it.
Dogecoin been touted as the people’s crypto.
This has propelled its price from under a penny to current highs, above 40 cents on what’s known as Doge day. There’s considerable pressure among traders to test a new all time high at sixty nine cents today.
Price of Dogecoin is expected to rise in the coming days as news of Doge Day breaks out in the media. Analysts believe the coin could break out of an ascending triangle, which is a bullish formation. The technical price target of the triangle is fifty six cents but with dogecoin high volatility, the price could go much higher.