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Wednesday, April 28, 2021

Why Elon Musk Pumped Dogecoin Revealed!


Why Elon Musk Pumped Dogecoin Revealed

Have you ever wondered why the Dogecoin price is rising so strongly these days? Why did Tesla CEO Elon Musk choose DOGE among so many crypto money projects? Why is the price of the popular altcoin Dogecoin so strong and in such high demand from the market? Here is the answer ...

Why did Elon Musk decide to choose DOGE among so many cryptocurrencies? Let's talk about Elon Musk first… The reason why Elon Musk is heating the Doge's market is not money. The main reason for this is probably because Elon Musk wanted people to know more about cryptocurrencies and see opportunities to profit from it, according to experts.

And for this reason, Bitcoin and Dogecoin are the two best options right now, according to experts. One is the largest cryptocurrency on the market, already very popular. Dogecoin, on the other hand, is a very accessible and interesting project, and the purpose of its creation is extremely funny. In an in-depth analysis, crypto analyst and influencer Coin Bureau explained four reasons for the frenetic demand for Dogecoin:

  • Breast Culture (Simplicity Sells).
  • Social Media (some of the biggest trends for DOGE passed on TikTok)Elon Musk (According to analyst, Elon Musk wants to send DOGE to the moon. 
  • You can perfectly follow DOGE's price pumps by looking at his tweets about it. A trivial tweet by Elon Musk could make a price pump on DOGE.)Robinhood.

Coin Bureau: DOGE is a truly fascinating cryptocurrency

Popular analyst Coin Bureau explains why people are so eager to increase DOGE prices: First, some people are really having fun. They love the community and enjoy memes. This is the category we think Elon Musk falls into. Another type of DOGE investor is those trying to make money from price spikes. There are millions of people doing this in this category.

Looking at it as an investment point, some investors think Dogecoin could truly become a global currency and surpass Bitcoin. And finally, crypto analyst Coin Bureau concludes the video with closed thoughts about Dogecoin:

DOGE is a truly fascinating cryptocurrency. I will admit that I never expected it to reach this level and I must say I was impressed. Although it has a fairly simple crypto technology, it has caught the attention of millions of users who would not otherwise use crypto ...

Analyst: I cannot stop here and say that the trend will not continue.
Coin Bureau explains the point it wants to be careful about with the following words:

I cannot stop here and say that the trend will not continue. The parabolic price action may be unreasonable, and I'm sure it won't short DOGE… But there will come a time when larger owners will make a profit, and that will lead to a drop in price. It just makes sense… The community is cool and dynamic and I love its enthusiasm. However, many of them are investing with real money and it won't be a joke when they lose the money.

According to the latest data, Dogecoin price is currently trading around $ 0.31, up 15% in the past 24 hours. As usual, this increase was triggered by Elon Musk's tweet about crypto money today. Elon Musk continues to pump his crypto lover ...

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