DOGE out of control? Social media and whales sway Dogecoin price action
Dogecoin posting over 14,000% gains in a year could be a sign of the rise of retail investors in the crypto market, but will the price go up even further? Dogecoin (DOGE) has been the talk of the crypto town in the month of April. On the first day of the month, it was trading in its usual $0.05 range. On April Fools’ day, Tesla CEO Elon Musk tweeted about the coin yet again. His tweet read, “SpaceX is going to put a literal Dogecoin on the literal moon” — SpaceX being the aerospace company that Musk also founded. Although the tweet was intended as a joke, it set the Shiba Inu-themed meme....
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Billionaire Elon Musk is inching further toward his eventual takeover of Twitter and Dogecoin (DOGE) whales are positioning in preparation for the takeover. Musk’s deal to acquire the social media platform has been one fraught with roadblocks along the way, but the two parties have now reached an agreement to facilitate the purchase. Now, the […]
Dogecoin, the quintessential meme crypto, is being pulled on a leash by yet another social media-driven hype. Anyone who has been in the crypto space over the last few years will undoubtedly be familiar with Dogecoin (DOGE) and how social media activity drives its price action. A “fork of a fork” based on Litecoin (LTC), the coin has earned a unique reputation and a considerable cult status within the cryptocurrency space.Unlike other projects, Dogecoin has not seen any protocol upgrades or developments since 2015. Indeed, the success of DOGE derives more from the community-based efforts....
While April 20 or 420 is synonymous with cannabis culture, the day is also considered “Doge Day,” by a great number of dogecoin supporters. The day prior on Twitter, the Doge network’s co-founder Billy Markus asked what people should expect on Doge Day and for dogecoin’s price action. 12 months ago dogecoin was swapping hands for $0.44 per unit on Doge Day and today the meme-based crypto asset is down 65.3% from that value.
Last Year During Doge Day, Dogecoin Was up 18,299% and Saw Fresh New Price Highs
Last year, the popular meme-token dogecoin....
Elon Musk himself said via Twitter in February 2021 that the biggest issue with Dogecoin is its concentration among a few whales. The billionaire wrote at the time: If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo. I will literally pay actual $ if they just void their accounts. But what if Elon Musk himself is the largest of all DOGE whales? This rumor has been circulating in the crypto community for quite some time. So far, conclusive evidence has never been provided. Even the Federal Court in Manhattan has....
Dogecoin has observed a surge of 7% over the last five days as whales have been showing signs of accumulation behavior. Dogecoin Addresses With 100 Million To 1 Billion DOGE Have Gone Up By 5% Recently Both Dogecoin and the general crypto market have been struggling hard in recent weeks, but these last few days […]