The popular altcoin Dogecoin (DOGE) has almost flown in the last 24 hours and the uptrend continues at the time of writing. The cryptocurrency reached the limit of $ 0.70, an increase of more than 55 percent. DOGE has gained over 150 percent in the last 7 days. While this rally excites the cryptocurrency community, Spencer Bogart of Blockchain Capital claims he is not a real user of Dogecoin.
Dogecoin reached $ 90 billion in market cap! “No real users”
Dogecoin’s market cap has reached $ 90 billion, which is an extremely impressive feat for the cryptocurrency, which continues to be ignored as a joke. Now cryptocurrency is bigger than Snapchat and Xiaomi. Dogecoin price made 17.893 percent in 2021 with active support from Elon Musk, Mark Cuban and Snoop Dogg. DOGE also broke $ 0.69, rising massively in the past 24 hours. Still, some industry leaders are encouraging market participants to take off their rose-colored glasses and take a sober look at the meme cryptocurrency.
In a recent Bloomberg interview, Spencer Bogart, general partner of Blockchain Capital, warned Dogecoin fans. Spencer Bogart stated that the Shiba Inu-themed cryptocurrency is not real users and developers. Spencer Bogart adds that Doge is the “perfect target” for a “fun guy” like Elon Musk. Spencer Bogart comments on the subject:
You know, it’s a functional network, so we’re going to give it this credit (it works). But there are no real users, no developers working on it. He likes jokes. You know he’s a fun guy. She loves memes and the Doge is the perfect target for that.
What is the latest on the popular altcoin Dogecoin?
The fourth largest cryptocurrency, Dogecoin, is trading at $ 0.66, up 55 percent at the time of writing. The popular altcoin currently has a market capitalization of $ 86.5 billion. At the time of writing, DOGE manages a final 24-hour trading volume of $ 49.3 billion at market capitalization.