Dogecoin goes to the cloud.
Greetings to all my dear readers and followers of this community, following with my publications today I will share a very important news for users who own the Dogecoin cryptocurrency and is that this cryptocurrency has increased its value by 25% after the billionaire Elon Musk stated that his company Telsa will receive this cryptocurrency as a method of payment.
The Dogcoin cryptocurrency that was developed as a meme has increased its value by 25% after Elon Musk announced that Telsa will receive this cryptocurrency as a means of payment, in his statements Elon states that currently this cryptocurrency is much more suitable for transactions than Bitcoin and that investors prefer to continue leaving the BTV as a deposit and use the Dogecoin to enhance their operations.
This upward movement that Dogecoin presented this past Tuesday shows how even very powerful and millionaire people can influence the value of a cryptocurrency in the market, from the particular this situation must be corrected since it seems that they have control of the market for their own benefit. Although I know that there are users who believe otherwise, the truth is that again Elon Musk makes an announcement related to a cryptocurrency and this makes movements either bullish or bearish depending on the type of comment that Elon Musk or any other billionaire makes about the cryptocurrency.
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The Dogecoin reacted immediately to the announcement that Telsa would receive this cryptocurrency as a means of payment, its value stood at $ 0.20 according to the web portal CoinMarketCap, this whole situation undoubtedly benefits the holders of this cryptocurrency because its increase was significant in a matter of minutes. We all know how volatile the cryptocurrency market is and after a few hours of having increased its value by up to 25%, it began to fall back again, so much so that at the time of this publication the value is quoted at 0.15 dollars.
The world of cryptocurrencies undoubtedly fills us with joys and sorrows I say this because there are times where we can take advantage of the market movement as there are times where the loss of the investment is painful, but that is what this market is all about, but as investors we must study well the projects where the investment is made and also establish strategies that allow us to get a good return on it.
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Dogecoin is just the "Mother of all Shitcoins", a coin that Elon Musk made pump twice, and then doing the same with Shiba. Elon Musk, the same one that accepted Bitcoin as a form of payment for Tesla and then removed it because "Bitcoin is too polluting".
I am not saying that with those coins money cannot be made. I am just saying that it not plannable.
Greetings @mikezillo, very much to place your comment since Elon Musk has taken advantage of these cryptocurrencies you mention as BTC, SHIBA and DOGE, that is why something must be done to prevent this type of people can manipulate the market at will.
Yes, I totally agree with you.
Probably, Elon had already bought BTCs when starting accepting BTCs as a form of payment in Tesla. And he probably had already sold them once Tesla stopped accepting them.
I expect the same with DOGE and SHIBA. Simply, cryptocurrencies are a non-regulated market so people can even play some odds game like this.