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your post notifications so that we can inform you as soon as we have a new Video up in this Video, we'll be talking about when Dogecoin can possibly
reach 10 cents. Dogecoin has enjoyed a remarkable start To the year, with the minor Cryptocurrency making unprecedented gains following well
publicized support from the world's richest man, Elon Musk, those Owners are now wondering whether Dogecoin could soon hit One dollar. The digital token Was famously conceived as a joke by its creators, Jackson
Palmer and Billy Markus. But some investors are now viewing the cryptocurrency as a
serious investment. Express Shortcode reported that despite the enviable gains
Dogz made in twenty Twenty one, many experts Are quick to point out the crypto remains worth Very little.
According to the Reuters perspective, the best
performing digital assets are worth far more, with Bitcoin valued at around forty seven Thousand, Ethereum worth About one thousand seven hundred and XP trading at 52 cents. During the same Period, the dogecoin Price was effectively flat lining since the meme based
cryptocurrency was created in 2013. However, this all changed roughly one month ago when retail
traders, frustrated by GameStop restrictions, switched to crypto currencies. Dogecoin subsequent rise by more than
600 percent since the beginning of February has been fueled by celebrities On Twitter, lead among Them as SpaceX and Tesla had Elon Musk, who's become the de
facto head cheerleader for Dogecoin. But such apparent Support should perhaps not be taken on face value Alone. Elon Musk told Chat App Clubhouse last week that he occasionally makes
jokes about Dogecoin, but they're really meant to be jokes.
Cadenced Adilman, Cto of Open Source blog chain provider Kimoto express Concern about amateurs investing their money in markets they
may not fully understand. On the back Of hype, he told Express Dakoda UK that people who are new to crypto should be
cautious of celebrity Endorsements. Kaiden said That although Elon Musk, Snoop Dogg and other celebrities
have shown support for Dogecoin, Doege climbing To one dollar is Unrealistic. He said the doge could Continue its climb, but oftentimes
the allure will fade away for celebrities and retail investors end up holding the bag At the end, read an Anonymous moderator of the Harvest Finance, an automatic Yield farming protocol assisting traders said it's dangerous
to not conduct research before investing in volatile crypto Markets.
He advises People should always do their own research before Buying something, regardless Of who they Heard it from. He suggested questions Like Why is the celebrity Pitching this? Are they financially benefiting? Is what I'm Buying worth anything beyond the endorsement Itself? Ellen loves Doege because he loves Meems. Does that suddenly make It worth eight times more than
before, considering no major developments on that chain have occurred in a couple Of years? Analysts said Symmetrical suggests potential investors will
require a lot of nerve to put their faith in Dogecoin one day trading at one dollar. The analysts Concluded that it's difficult to gauge longer
term forecasts since there's no past reference Point. But what they can Say is that there is a momentum behind crypto As an asset. Just recently, Bitcoin peaked above forty eight thousand dollars, and as
long as the founding father of Crypto is has some strength in it, the other alternative cryptocurrency is tend to hold
their Own as well.
In their opinion, They said that, of course, crypto is a volatile asset. And if we do start to see a broader deterioration in risk
assets, equities, oil and industrial metals, to name A few, then it's likely there could Be some spooking of the market and a sell off in crypto Happens. As of now, there's No sign of this happening, though. Cryptocurrency is an asset built on sentiment and order
flow in the main.
It depends on who is Doing the talking. Elon Musk talking About Bitcoin or Doege has a more solid fundamental basis to
buy it than many other celebrities Doing the same. For example, Elon has hinted at Bitcoin being a payment method For Tesla. I can't Imagine if some other celebrities can say that because they
may not have anything they could Offer to create a Reason to buy Bitcoin. Having said That, cryptocurrency is a volatile asset and is
unregulated, so you need to Express caution. That's not to Say that volatility is a bad thing at all, but it takes some
stomach to hold and to understand your own risk Parameters.
One thing is for certain, Though Dogecoin is no longer A joke. For now, all the Dogecoin Tokens combined are now worth about 10 Billion dollars, climbing past The milestone and into the cryptocurrency top 10 Over the weekend, Bloomberg Dotcom Also reported directly that the rally was sparked by a
series of tweets from Elon Musk, as well as Snoop Dogg and Gene Simmons. An overall Increase in demand for crypto among investors following
Bitcoin surged to nearly fifty thousand dollars, likely also helped support the recent rally In Dogecoin. Dogecoin differs From Bitcoin and that there's no hard limit on the total
supply of Coins. Bitcoin has a Fixed supply of about twenty one million coins, of which not
all have Been mined yet. Dogecoin, on the other hand, has more than
one hundred billion coins outstanding, with five billion new coins hitting the supply every year. Even one of the Founders of Dogecoin, Billy Marcus, can't
make sense of the surge in the coin. He started as a joke. Marcus told The Wall Street Journal that the idea of
Dogecoin being worth eight cents is the same as GameStop being worth three hundred and twenty five dollars.
It doesn't make Sense. Dosch coins Unlimited supply cap, and the bewilderment of
its founder hasn't stopped investors from piling into Dogecoin, making it now more valuable than some Of these companies. Cnbc reported that the massive rise in
coins price that has happened recently happened after a Reddit board talked about making it the cryptocurrency
equivalent of GameStop. The price Of Dogecoin soar up to eight hundred percent
increase on that day, just within twenty four hours, according to Coin Gekko. While it has Taken a back seat to larger crypto currencies
like Bitcoin and ether in Recent years, its resurgence In the last few days has been down to enthusiasm from a
Reddit group called Satoshi Street Bets. Like the Group Wall Street Bets, which was behind the GameStop rally,
Satoshi Street Bets is looking to pump up Crypto currencies. Just recently, Dogecoin had added about
seven point seventeen dollars billion to its market cap or total value in twenty four hours, according to data from
current market cap.
Its total Market cap stood at eight point two billion
dollars, making it the ninth largest Cryptocurrency. One poster on Reddit claim Doge is the crypto Gme. GME is the Stock ticker For GameStop. Another post suggested taking Doge to one dollar coin. The cryptocurrency Has never been One dollar in twenty thirteen. When it began, it was trading around zero point zero two Of a cent. Reddit users On the board are encouraging people not to sell and to Keep pushing. Elon Musk, The Tesla founder who previously tweeted about stocks before
and send them rising, has tweeted about Dogecoin in the past and indicated in April twenty nineteen that it was his
favorite Cryptocurrency. He tweeted out a Picture of a magazine cover of Dog Play on the popular
fashion Title Vogue.
Many users On Twitter and Reddit took that to mean Elon Musk was
throwing his support behind the Dodge Rally. One Reddit User wrote, Mr. Musk is with us to The moon. The situation with Dogecoin appears to be different from GameStop. However, the REDgroup Wall Street bets appears to be
pushing the narrative of buying GameStop shares in order to create pain for hedge funds that are shorting or betting
against the Stock by buying Gamestop shares, a so-called short squeeze has created
forcing funds to Cover their losses. This pushes the stock higher.
Short sellers Borrow shares to sell them in order to buy
them back at a lower price in the future so that they can Pocket the profit. But there's no such Shorting dynamic from hedge funds that play with Dogecoin. Instead, it appears a group of people are just
trying to push the cryptocurrency higher To make money. One of the early posts On Satoshi Street best read. Let's make Dogecoin a thing. That's it. That's the post.
Such activity Is not new in the cryptocurrency space and
has been going on for several Years. Actually, in twenty Eighteen, the SEC sounded the alarm on pump and dump Schemes. This is what A certain cryptocurrency is hyped online and then more and More people buy those who are in Early sell when the Price goes high. But many will Purchase near the top and Lose money. Dogecoin hitting One dollar may seem like a dream too far, but at least ten
cents still looks like a Near future. However, the crypto Market is a very volatile one and should be treated As such. Trades and Market positions should be assumed With caution. Let's look at the Doege USD chart. This is a four hours Dogz USD chart in this chart, we can
see the Dow is currently trading at around six cents.
The price is Currently in an ascending triangle that's
illustrated on the chart using two Yellow lines. The prediction suggests That the price of Doege will go up to hit the upper end of
the triangle at around 12 Cents. That's just a Little above 10 cents. That price is Marked with a blue horizontal line that is
visible On the chart. This increase in Price is expected to happen in a couple of days. As you can See from the chart, from the chart, we Can see that it is possible for Dogecoin going to hit 10
cents in a couple of days.
However, on this channel, we always advise people To do their own research Before trading and most
importantly, only use money You can afford To lose. Thank you for Watching this video. We hope you liked it. At least give it a thumbs up and
subscribe to our channel if you haven't already. Also, we'd like to know what you think about this
prediction and dogecoin generally in the comments section. Thank you. And see you in the next video. Bap bap, bap, bap, bap, bap, bap, bap, bap, bap, bap, bap,
bap, bap bap..