Dogecoin Ready To Go Nuclear, Mr.X Bought 4 Billion Dogecoins In Last 2 Days | Dogecoin To 15 $
Dogecoin Ready To Go Nuclear, Mr.X Bought 4 Billion Dogecoins In Last 2 Days | Dogecoin To 15 $ Transcript: We just saw something unbelievable and thought it was worth sharing with everyone. Someone literally owns 34 billion, 812 million 348 969.52 dogecoin which is approximately one-fourth of the entire total supply of dogecoin but look at this, he just bought 2 billion more dogecoin just a couple of hours ago. In the last two days he has bought about 4 billion dogecoin more than that if you include all these little amounts here. If you scroll down here we can see the first time he bought dogecoin was all the way back at the beginning of 2019 close to exactly two years ago. It was on 5 Feb 2019 so literally in two days it will mark two years since the first time he bought dogecoin and he bought 100 dogecoin at that time. Since then he's been buying a lot of dogecoin big amounts big amounts. At times he will sell some but for the most part he's bought and bought and bought and bought and bought overall he's either bought or obtained 41.8 billion dollar coin and has sent or sold 7 billion dogecoin over 7 billion. So those are HUGE numbers. What is odd is this 69 doge, now clearly this person likes memes and must be a billionaire. Although we don’t know who it is, it could Elon Musk, it could be Patrick Carlson, it could be anyone who is smart enough to know the true value of doge coin. Currently dogecoin is hovering at roughly $0.03, question is can Doge coin reach 15 dollars or more is the question we will try to answer today. While the mainstream media is classifying the Doge movement as the latest target of hyped-up Reddit users, they are ignoring the strength and camaraderie in the Doge community that has moved beyond a platform or geography. And that is not it, there is a lot of negativity around Dogecoin but if we go back in time, people were equally skeptical about Bitcoin and after one glitch back in 2011, Forbes went on to suggest the end of Bitcoin. And here we are and we know the level Bitcoin price is stable at. There are also a lot of videos out there talking about the market cap and that is true to some extent, but it is not considering few facts, inflation, growing GDP , acceptability of crypto currency in day to day business and if we talk about extension of acceptance specifically to Doge, the reallocation of funds currently held by big crypto currencies like Bitcoin and Ethereum. Now if we consider high priced crypto currencies and look for analogy in stock market, high priced stocks at one point of time suffers liquidity crunch and corporate action like stock split is used to make it accessible to large group of small investors. But in case of Crypto currency, you can buy the instrument in fraction, so liquidity in the market might not be an issue but how far it can move is limited. If you are a big player or you have a big money invested in say Bitcoin, 10 to 15 % change will look attractive but if you invest 1000 to 5000 dollars, you won’t see such gains, in absolute terms. So the new bunch of investors will prefer to ride the wave created by the social media buzz across the globe and get advantage of it. And if at every level crypto currency of the size similar to Doge, keep stabilizing itself, that means its ok investors are pumping and dumping but they are also making the community bigger by accumulating more people who will hold Doge as they could not make enough return during the run or are at the losing end. This price stability that Doge for example is attaining at every level and the fear of losing out will make Doge and similar cryptos more attractive and where the volume there goes the gains.
Doge Coin Price Is Stuck At Geostationary Orbit, Moon Is Far Away
Dogecoin, a type of cryptocurrency has been all the hype recently. It was trading at less than a cent at $0.0046 at the end of December 2020 and on 29 January 2021 it reached a peak of almost 0.076 cents representing an increase of almost over 1500%. Many predict it will reach $1 but what is driving this frenzy and what could cause it to get there? We explain all. After Reddit users pumped up the price of GameStop by betting against hedge funds an online community of investors started started targeted the increase of Dogecoin in order to get it to $1. As is the case with any exchange getting crypto prices to increase is demand driven, if many investors increase the demand then price will go up and if they start to disinvest ie reduce demand then the price will drop. Social media has a huge influence over increasing demand and the fact that online communities such as StoshiSteetBets, subreddit and the crypto version of WallStreetBets are promoting the increase means that there is a possibility of getting it to $1. Not only that but even Elon Musk has been promoting the currency by tweeting, “One word: Doge”. A further boost by “WSB Chairman” further increased the price by giving it a further boost. Although WSG Chairman claims to be independent of Reddit it quickly racked up 400k followers. All of this points to investor demand increasing and the value going to $1. However one thing to be aware of is that price goes up when supply is restricted so a hard cap can sometimes help. At the moment there isn’t a strict hard cap on the supply limit although when it first started there was a cap of 100 billion coins, but in Feb 2014 dogecoin founder Jackson Palmer removed the cap to allow for reduction in inflation rate. The 100 billionth Dogecoin was mined by mid-2015 and there have been additional coins mined since, currently 127 billion coins are thought to be in circulation. Robinhood chose to restrict trading in crypto currency due to unprecedented demand although settled funds could have been used to buy crypto. This only resulted in further gains after the Tesla founder Elon Musk switched his twitter to #Bitcoin which lead to a surge on Friday morning jumping nearly $5k to over $37k. As the appetite for Doge currency increases so does the demand for other cryptocurrencies. What happens next waits to be seen. There was some pullback in currency however if the power of online communities continues then it is very likely the $1 mark can be hit. Thanks for watching our channel and subscribe for more.
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