Elon Musk’s Twitter Deal Brings Dogecoin Back From The Dead, What’s Next?

[AJBot]

Dogecoin was struggling in the market right up until the Twitter deal was finalized. However, once the Elon Musk takeover was announced, the meme coin rallied enormously and was up more than 100% in just a matter of days. This has no doubt given renewed m ...

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[Kane]

One of the major mistakes people are doing when it comes to investing in crypto is they look upon people like Musk to make a decision on investment. If you think doge will gain value just because Musk supports it, you are wrong.

 

[Shahid987]

The recent boost in popularity of Dogecoin, largely due to Elon Musk's tweets, has led to a significant increase in its price and renewed interest in the cryptocurrency. However, the future of Dogecoin remains uncertain as cryptocurrencies are highly volatile and subject to market forces and investor sentiment. It's also worth noting that Elon Musk's tweets about Dogecoin are not investment advice and that individuals should exercise caution when investing in cryptocurrencies. It is recommended to thoroughly research and consider all factors before making any investment decisions.

 

[Abigael]

One of the major mistakes people are doing when it comes to investing in crypto is they look upon people like Musk to make a decision on investment. If you think doge will gain value just because Musk supports it, you are wrong.

That is right. That is such a misguided investment strategy. You cannot depend on these influential people to decide whether to buy or sell crypto. You will be disappointed badly.

 

[Kane]

Even though crypto prices moves up or down based on what the influencers are saying or doing but when it comes to investment, you need to trust your own judgement and your judgement should be based on the right information.

 

[Sincerem]

Elon musk is the only person that have the ability to influence the price of dogecoin.
It has been a long time since he personally tweeted about the coin , probably with his new acquired social media he could used it to promote the crypto currency as before.
That was the reason the price of dogecoin cryptocurrency was running at a high price.

 

[Skysaint]

Well, I really can't say for others but I think the coin is still dead to me but if in any case that this information is true then it might probably mean that he's back to make money from the coins as usual.

 

[Shaffy]

One of the major mistakes people are doing when it comes to investing in crypto is they look upon people like Musk to make a decision on investment. If you think doge will gain value just because Musk supports it, you are wrong.

Doge may move, but not by much. It's market cap is too big. People believe such meme coins will move mostly because of the community behind them. They use Elon Musk only to validate their own obsession with the coin.

 

[Kane]

Dige market cap is too big because it has unlimited supply and every minute 10k dogecoins are being released in the network, when the coin has an unlimited supply, the value might not go too high.

 

[Imran_Noori]

One of the major mistakes people are doing when it comes to investing in crypto is they look upon people like Musk to make a decision on investment. If you think doge will gain value just because Musk supports it, you are wrong.

I agree with you, crypto currencies supported by one person without any specific project can not be successful, instead you should look for crypto currencies with real world usages and strong fundamentals.

 

[Kane]

A crypto project can be profitable and successful only when it is being adopted by the masses. It should also have its own ecosystem and use case. Therefore, you should invest only in crypto that has a sustainable model.

 

[Ononivami1]

The Dogecoin is resurrected from the dead because of the acceptance by Elon Musk and I think this is a very good way for these coins record huge upward movement very soon.

 

[Abigael]

The Dogecoin is resurrected from the dead because of the acceptance by Elon Musk and I think this is a very good way for these coins record huge upward movement very soon.

That is right. Elon musk showed interest in doge coin sometimes back and so his controversy will always have some effect on it. Most cryptocurrencies are like that, they are influenced by influential people.

 

[Potuse]

The influence of Elon Musk around the Dogecoin is very huge and it has been very difficult for Dogecoin over the time but since Elon Musk takes over, the coin has made a rebound.

 

[Yohanna]

Elon Musk is trying his best to ensure that he makes Twitter's successful and using the Dogecoin is a milestone and a very good way to improve the coin.

 

[Trey]

The amount of support Dogecoin enjoys from Elon Musk is overwhelming. The twitter deal is a massive boost for the coin and would make it continue to appreciate over the next few months.

 

[Jonaville1]

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Elon Musk seem to be a very big influencer in the world at the moment and I have a feeling that he can push dogecoin to an extent that people will want to continue buying and investing in it

 

[Ononivami1]

It is very correct that Elon Musk's Twitter deal has helped Dogecoin to rise . Ultimately, dogecoin has been increasing since it enjoyed backings from the Twitter boss.