When the digital currency market returned yesterday, for several reasons, including an anonymous tweet, and news of power outages in China, which led to the disruption of cryptocurrency mining activity, the Dogecoin currency alone remained high despite the decline of everyone. On Friday, Dogecoin rose quite 200% and is now the fifth digital currency by the market price.
From the beginning of the year today, the DOGE / USD has risen by over 4000%. Although the digital currency isn't limited in number, like Bitcoin, whose rise is ruled by its scarcity, and it doesn't have many applications in practical life, it's attracted by major investors like Elon Musk, CEO of Tesla, billionaire, Mark Cuban, et al. Large and little investors who are buying the currency aggressively.
And one of the funny stories is that Elon Musk bought a Dogecoin for his infant son, to be younger than owning the digital currency.
However, caution is important here, as Dogecoin as we mentioned there's an endless supply of it, and therefore the currency began as a joke when digital currencies appeared strongly years ago, therefore the current issue could also be a sale plan from the adults, then exit quickly. Twitter users say people are pouring huge sums into currency on the social networking site Discount.
We see, for instance, that the Coinbase stock offering, which raised Bitcoin to a record high of nearly $ 65,000, and strongly raised the worth of Ripple and other digital and alternative currencies, faded away quickly. The disclosures show that the company's CEO sold $ 291 million in shares at the beginning of the general public offering.
Dogecoin trading volume reached $ 25,763,230,230.
Technically, a bullish channel appears on the charts, and this pattern is made when the wrong way up trend lines cross off parallel lines. Also, patterns show higher peaks and lower lows.
In addition to the positivity, the overall market regained its optimism about Bitcoin's return to the upside.
The Dogecoin hit $ 0.437 on Friday, and Musk said the Doge would be barking at the moon.
MORE| Shipwell introduces pricing intelligence tools for shippers
0 Comments