DOGECOIN its time has now begun, crypto investors hold on tight! | DOGECOIN NEWS

coin its time has now begun crypto investors hold on tight dogecoin news if you purchased a signal dogecoin at the 52-week low of 0.0023 and sold it at today's price of 0.26 you'd turn around 0.25 for a positive return of 99.11 hello guys welcome to profit company youtube channel your only trustworthy place for dogecoin and crypto updates before we go any further please subscribe to our channel and press the bell icon so you won't miss any of our important videos dogecoin has become a phenomenon in the cryptocurrency world its price has soared by more than 4500 percent since the beginning of the year and is up nearly eleven thousand percent over the past 12 months even dogecoin's biggest competitors in the crypto space haven't been able to achieve such explosive growth the price of bitcoin for example has increased only around 300 percent over the past year and ethereum is up around 860 percent in the same time period however despite the current market crash there are several reasons why it can go to the moon reason number one it has an enormous following despite the fact that dogecoin has shaky fundamentals it managed to build quite the fan club and although it has substantially dropped in value over the past few weeks along with many other cryptocurrencies it's still up nearly 400 percent over the past three months part of the reason dogecoin has earned such explosive returns is because retail investors have artificially pumped up its price celebrity billionaires like elon musk and mark cuban have also helped fuel dogecoin's rise to the top by publicly voicing their support for the cryptocurrency these factors point to the fact that dogecoin is a short-term investment not a long-term one however because dogecoin now has so much name recognition it could gradually gain wider acceptance which may give it a real shot at staying competitive reason number two elon musk the doge's father musk the self-proclaimed dog's father has been responsible for pumping dogecoin prices on several occasions by sharing various references and memes related to the dog themed cryptocurrency on his social media feed for example on july 1st two tweets by elon musk drove the value of dogecoin up by seven percent while on the other hand major cryptocurrencies were going down there's also a speculation going around elon musk and dogecoin that in coming weeks tesla can start accepting dogecoin as a payment method if this happens this will be really huge for both dogecoin and dogecoin holders reason number three robin hood robin hood which plans to go public later this month said in its ipo prospectus that dogecoin made up 34 of his cryptocurrency transaction based revenue for the first quarter of 2021.

This is also a strong indicator that the price of dogecoin won't fall below a certain level because if dogecoin prices fall below support levels then it could significantly impact the revenue of stock trading app robinhood also robinhood holds 11.6 billions in crypto assets most of it in dogecoin reason number four the currency keeps on going but with so much support in recent months from the likes of elon musk and other institutional players the currency has moved itself out of the darkness and risen to become the fourth largest cryptocurrency by market cap its popularity is higher than ever and its price rose as much as eleven thousand percent by the time april 2021 arrived the currency has earned attention from the likes of sam bankman frye the chief executive of ftx crypto exchange in a recent interview he named dogecoin the asset of the year for both 2020 and his successor 2021 reason number five well-known companies going all in on dogecoin hardly any sector of online business remains unaffected when it comes to the price of accepting dogecoin as a method of payment there are more than 15 high-profile companies that accept doge now but will begin to do so in the near future also a petition that was started back in 2018 has recently gained attraction and has gained a lot of signs the petition was aimed at asking amazon to start accepting dogecoin as a payment method it has already gained over 100 000 signatures and continues to get more attractive as the price of dogecoin increases we have to wait and see if amazon actually listens and adds dogecoin as a payment method some other companies that accept dogecoin are such less strange donuts steam burger bear fit burgers hosting allgamer and more so in my opinion all the news dogecoin gets all the exchanges accepting it the nascar races retail stores sponsor advertising on sport events billboards on highways and it being recognized globally i think it's just a matter of time before it really starts taking off dogecoin is one of those cryptocurrencies that has stood out in the crypto market do you think dogecoin can hit one dollar before the end of the year let's get your reaction in the comments section and don't forget to like the video and subscribe to our channel

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