One can look at the popular altcoin Dogecoin as a proof of how crazy the markets are getting. Dogecoin is now more valuable than Twitter… Although the DOGE train seemed to run out of steam at the end of April, its market value almost doubled in less than two weeks.
Elon Musk’s participation in the DOGE market is a factor in all of these. Tesla’s billionaire will reportedly be talking about Dogecoin at the May 8 Saturday Night Live event. At a basic level, more businesses are starting to accept breast money as a payment method. While critics claim that DOGE lacks foundation, some await new heights …
Popular analyst: Dogecoin rally is unstoppable! 1 dollar in order
Contrary to tradition, Dogecoin continues its incredible run, even surpassing Cardano in the process. YTD earnings are currently 7%. It stops at 800. Following the recent market sales, a strong recovery from DOGE led to a sharp rise in price. Today, cryptocurrency sees the same with more and more, gaining more than 14% since opening. Popular analyst Kas1a examined DOGE in a 4-hour chart and concluded that his rally was “unstoppable”.
Analyst’s analysis shows a price train according to an upward bullish line formed at the bottom bottom. A $ 1 DOGE rally now seems increasingly possible, according to the analyst. But Billy Markus, co-founder of Dogecoin, said that the DOGE price of $ 1 is not possible. Dogecoin was created within hours, according to Billy Markus, and has always been designed as a joke against the ultra-serious cryptocurrency industry. According to some experts, this is not a project beyond Twitter.
The DOGE frenzy is getting incredible! Billy Markus can’t explain it
But the DOGE frenzy is getting incredible. Looking at the market values of the current companies, it shows DOGE at a very close distance to Volvo, Honda and Philips Electronics. All of these provide tangible goods and services to millions of people. Billy Markus cannot explain how and why his work got to where it is today. Given the difference of stock markets from real, it may have an explanation. Billy Markus said:
Perhaps Dogecoin could be a good barometer for how far things can get from reality …
Charles Hoskinson: DOGE’s price is not sustainable, it will collapse!
Commenting on the rise of Dogecoin, IOG CEO Charles Hoskinson described the situation as a bubble. He attributes price performance to Elon Musk and market manipulation with “smart whales”. Charles Hoskinson said:
Let’s be very clear, this is a bubble. DOGE’s price is not sustainable, it will collapse and huge amounts of retail money will be lost very quickly.
When things go wrong for DOGE, Charles Hoskinson fears regulators will be forced to take action, leading to stricter regulations for the entire cryptocurrency industry. Charles Hoskinson made these comments two weeks ago. Since then, DOGE has proven to be more durable than Cardano. Perhaps it’s time to admit that the basics aren’t important, according to Baiz experts.