147 shares, 360 points

It will not be an exaggeration to say that 2021 will be remembered with the rise of Dogecoin. But now there is a different approach to DOGE

A new hypothesis about Dogecoin

John Hempton, founder and co-owner of hedge fund Bronte Capital, has proposed a hypothesis on social media that the price of Bitcoin, the flagship of cryptocurrencies, will bottom out after Dogecoin (DOGE) drops below $0.01. In a tweet, Hempton highlights that as long as the meme-inspired cryptocurrency still has great value, the cryptocurrency market is in a speculative frenzy. According to him, the price of top cryptocurrencies, including BTC, will continue to fall until DOGE loses most of its value.

https://twitter. com/John_Hempton/status/1407526004403236867

Hempton is known for his investments, particularly against companies such as Wirecard and Valieant Pharmaceuticals, and has become a famous critic of the meme-inspired cryptocurrency.Cryptocoin. com, in May, Hempton compared stock buying to DOGE. Hempton stressed that the results are far from each other.

The rise of DOGE

Dogecoin was created as a joke in 2013, inspired by the dog theme Shiba Inu. The project is well known as the cryptocurrency community promotes philanthropic projects, including helping charities. More recently, celebrities such as Musk, Kiss singer Gene Simmons, billionaire Mark Cuban, Snoop Dogg have increased interest in DOGE, openly endorsed it, and have helped its community grow by posting about it many times on social media.

The price of Dogecoin hit an all-time high of $0.74 earlier this year, but then plummeted with the cryptocurrency market. It’s still up over 4,000% this year, as Musk has been closely watching a cryptocurrency upgrade that will reduce the number of transaction fees. According to Musk, this is an important development. Looking at DOGE’s price chart, a cryptocurrency analyst and bitcoin bull predicts that Dogecoin’s price is “programmed” to drop to $0.05 and even Tesla CEO Elon Musk won’t be able to save it. It is based on a predictive head and shoulder chart model.

Disclaimer: Cryptocoin. The articles and articles on com do not constitute investment advice. Cryptocoin. com does not recommend buying or selling any cryptocurrencies or digital assets or Cryptocoins. com is not an investment advisor. Hence Cryptocoin. com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Cryptocoin. Citing the news content of com and quoting by giving a link Cryptokoin. com’s permission. No content on the site can be copied, reproduced or published on any platform without permission. Cryptocoin. Legal action will be taken against those who use code, design, text, graphics and all other content of com in violation of intellectual property law and relevant legislation. .

Like it? Share with your friends!

147 shares, 360 points

What's Your Reaction?

hate hate
confused confused
fail fail
fun fun
geeky geeky
love love
lol lol
omg omg
win win


Your email address will not be published. Required fields are marked *