it looks like it's time to all in on dogecoin this video is about how a major media house just said exactly the same for dogecoin hello guys and welcome back to crypto fire where we talk about dogecoin cryptocurrency and investing before we go any further please keep in mind that we're giving away 500 to a random subscriber all you have to do is like the video subscribe and leave a comment on your favorite crypto read our description for more info about it now let's get started with today's video we know how motley fool has always been a big dogecoin hater but in their new article they talked about this hypothetical story about a doge investor this article said that let's say an investor claudia had an emergency fund handy during the height of the pandemic last april she had the liberty of using her first 1.2 k stimulus check for investment purposes not knowing a thing about dogecoin or what it does she moves all in in hindsight her courage paid off as claudia's meme purchase would have turned into a stunning 168 thousand dollars as of today and it would have been more than double that amount if she had cashed out during last may's highs and then it talks about dogecoin's niche and other positive things before i talk more about it let's look at this around three weeks ago motley fool published another article titled why dogewoin is crypto's most dangerous joke it talked about everything they think is wrong with dogetroin including its highly concentrated supply so either they're doing it to pump dogewoin because they have some money invested in it or they've finally woken up to all things that are good about dogecoin personally i think it's the latter either way it's really fascinating to me the previous article then goes on to say that every doge transaction consumes less than 0.02 of what it takes to send bitcoin from one address to another this is because the cryptography used in dogecoin is less complex than that of bitcoin taking less computational power to validate transactions and then it says something like dogecoin's biggest bullish catalyst is the re-establishment of a central development team notable members include vitalik buterin the founder of ethereum who joined the dogecoin foundation's board of directors last month in the near future the dojo network could encounter new protocol upgrades such as smart contract functionality which will enable it to rival that of ethereum and bitcoin after the latter's tape route upgrade and on 3rd september elon musk backed a major network upgrade that increased its security and reduced transaction fees my point is that this video is for all the dogecoin haters i think if motley fool which is perhaps the biggest doge hater can change its opinion about doge so can everyone now let's talk about something pretty weird that happened today amc has started accepting four kryptos and they are bitcoin ethereum litecoin and bitcoin cash the weird part is that they totally forgot about dogecoin a twitter user summed it up perfectly basically ethereum's gas fees cost a lot and if we talk about ltc and bitcoin cash they aren't even in the top 10 cryptos unlike dogecoin another twitter user pointed out that maybe they kept dogecoin out because of a potential partnership between amc and paypal this is because paypal is perhaps the only popular vendor that's accepting all four of these cryptos at the moment still i think they might reconsider and look at dogecoin again once the new doge update comes out as i've said before this update is going to reduce transaction fees by 100 times and that's going to become a really attractive thing for dogecoin coming back to the partnership the ceo of a mc announced that they will start accepting these four cryptos at the end of this year also lucky for them all of these cryptos saw some decent gains earlier today because of this news another reason amc didn't accept doge is that its stock has seen similar gains as doge this year and maybe it considers doge a big competitor i'm still hoping that they change their mind because it'll definitely bring in a lot of money into dojoin now before we look at the charts analysis and some predictions let's first look at some news that's creating fud in the market ray dalio the founder of the world's largest hedge fund believes that if bitcoin is really successful the regulators will kill it he was referring to his previous concerns about the government banning kryptos still there were some bullish parts in it if you don't know ray dalio is one of the most successful investors in the entire world and so anything positive from him is definitely something to be optimistic about he also said that i think it's worth considering all the alternatives to cash and all the alternatives to the other financial assets bitcoin is a possibility i have a certain amount of money in bitcoin it's an amazing accomplishment to have brought it from where that programming occurred to where it is through the test of time moving on let's talk about some analyses there's a key metric that indicates that bitcoin may see further positive price movement its stable supply ratio which is a measure of bitcoin supply relative to the total supply of stable coins is on the upswing the on-chain analysis firm crypto quant recently said that a low ssr number indicates stable coins have more buying power against btc and as per cryptocurrent ssr recently tested the support and is slowly climbing up now we're talking about bitcoin because dogecoin's correlation with bitcoin is on the rise it now stands at 64 and is up by 15 when compared to four days ago also bitcoin's recent price surge has led to the formation of a golden cross this happened as the 50-day moving average has gone over the 200-day moving average and previous similar cases have resulted in further price increases for btc an example occurred in may 2020 when it struggled below 10k but in the following months it skyrocketed and doubled its value also according to the on-chain analyst will clement bitcoin could continue upwards to the august high of 50k if it successfully breaks and maintains above 47k right after the golden cross bitcoin dipped slightly beneath that level but has reclaimed it rather rapidly the point is that it's likely that dogecoin will follow bitcoin's trajectory when it goes past 50k again we could probably see it go over 27 or even 30 cents after that happens but still i'd like to remind you that i'm not a financial advisor and this isn't financial advice so you should definitely do proper research before investing anything into crypto moving on let's talk about some more news for dogecoin the dogecoin foundation has become one of six other foundations to have filed an official claim on the dojoin brand name there's angel versetti the founder of moon rabbit who has also created a new dogewoin on his company's blockchain network and he's also created another cook islands based company called the dojoin foundation after he noticed the original dogecoin foundation remained inactive now the implications for this could be huge billy marcus one of the board advisors of the foundation recently said that the foundation is most concerned about trademark trolling which is the practice of registering a trademark without the intent of actually using it so does that mean dogecoin's brand is in trouble i really hope that's not the case the original doge foundation is really strong consisting of vitalik buterin and elon's own advisor so i think they could definitely beat this one in any case i'll keep you updated about it moving on let's talk about crypto adoption australian crypto exchange btc markets has observed a significant uptick in older clients using its platform over the last year according to them more older australians are viewing crypto assets as viable investments baby boomers which are classified as those born between 1946 and 1964 now compose 5 of the platform's estimated 325 k customer base more than a quarter of the exchange's customers are investors over the age of 44.

The platform reported that the over 65 demographic had the highest average initial deposit among any age group of over 3.2 k and they had an average crypto portfolio size of 3.7 k now this is a big deal because no one had any idea that older investors are getting into crypto as well and we could expect a lot of money coming into the market from them after this the ceo of this crypto exchange said that these baby boomers are often at a time in their lives when they have accumulated significant wealth they have many years of experience investing in financial markets and they are not worried about allocating a small percentage of their portfolios to cryptos coming back to doge earlier today it came close to 24.8 cents which is only half a dollar less than its 100 day moving average once doge gets past 25.2 cents it could slowly find its way back to 30 cents i still think that we'll trade sideways this week still it'll be really interesting to see how it plays out and this is it for today's video thanks for watching till the end if you enjoyed it please consider liking and sharing it with your friends also please subscribe to the channel and turn on post notifications for daily videos on dogecoin and cryptocurrency if you have any questions or suggestions please leave them in the comment section below goodbye take care

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