If you bought Dogecoin at the price of $0.08 and you are worried if Dogecoin is dying then you will need to read this article.
Dogecoin got a blast in fame and got more searched on Google than Bitcoin. But the real question is, is Dogecoin dying. First, let’s look at how much searched Dogecoin was getting and how its search volume is slowly declining.
Elon Musk played a huge role in the rise and fall of Dogecoin, making so many people believe that Dogecoin is going to reach $1. After the first Dogecoin TikTok trend that made Dogecoin to rise about %100 in value.
Why Dogecoin is Dying?
So let me tackle the question “Is Dogecoin dying” I earlier mentioned that Elon Musk played a role in the fall of Dogecoin and let’s check his current tweets about Dogecoin.
Read the tweet you can see below.
If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.
— Elon Musk (@elonmusk) February 14, 2021
Elon Musk is advising big Dogecoin holders to sell. This might the reason why people are also selling making the value of Dogecoin go down drastically. But it doesn’t end there, what Elon Musk means by “it would get my full support” likely means that he will buy Many Dogecoin after the value of Dogecoin dumps. Is Elon Musk manipulating Dogecoin? Let me know your thoughts below in the comments.
Also, let’s take a look at another Elon Musk tweet.
Another Elon Musk tweet that reduced the value of Dogecoin was when he made a tweet that says one coin rules them all and he was referring to Bitcoin.
For the Past 2 days, Elon Musk hasn’t said a thing about Dogecoin, and let’s also remember that Dogecoin gets more demanding when Elon Musk.
If you’re currently holding Dogecoin, you can either sell or hold it is really up to you, remember to always invest what you can afford to lose as investment plans might not go so smooth.
What is Dogecoin?
Dogecoin is a meme coin it is not a stock and was created in 2013, it’s logo comes from the Shiba Inu dog meme which used to be trending at the time of its creation.
How to buy Dogecoin?
To buy Dogecoin you would need a Bitcoin or any other cryptocurrencies, this would enable you to swap BTC for Dogecoin. Use changenow.io