elon's magic coming back tomorrow 8 may?
from twiter elon musk he said
some time ago elon musk elon musk again made a scene with his tweet on twitter which reads "Woke James Bond SNL May 8" this then gave a rebellion to the price of doge at that time back on the gas running to infinity. After being tired of running from his position, now Doge takes a break to continue his run back to a further position. There are those who predict that this doge will break through to 1 dollar USD. ehhh .. I hope this will be achieved because I am a holder of this coin. This actually has a positive impact on traders and holders. Let's see Elon's magic tomorrow.Previously I have analyzed my skills in technical analysis to solve where the doge coin is headed for tomorrow this is how the image will look like
some of today's updated sources that I got from several sources let's have a look
Cardano Creator Says Dogecoin Is Existential Threat to Crypto Space
In a new update on the state of Cardano and the crypto markets, Hoskinson says DOGE isn’t sustainable and is likely to result in a systemic, catastrophic failure that will disenfranchise millions of investors.
He believes such an event could “destroy the reputation” of the crypto industry and even lead to more stringent regulations.
The Input Output Hong Kong (IOHK) chief executive says the root of the problem is that people aren’t buying Dogecoin for its utility.
“When someone buys DOGE, if you look at the commentary of the community, 99% is, ‘We’re going to get rich.’
The only way you get rich with DOGE is if you take your Dogecoin and sell it to someone else. So that other person, you have to ask – why are they buying it?
Are they purchasing that because they intend on using it for something? Or are they purchasing that because they want to get a 10x?
If that mentality persists, there are only so many doublings you can have before it doesn’t happen anymore and then a panic sale happens.”
Hoskinson points to a high concentration of wealth as another potential issue for investors.
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“And if you look at the distribution of the coin, over 90% of the holdings are held by less than 1% of the participants, so at any time, a cascading failure can happen, and the people who are selling are always in the money, so whether they sell DOGE at $0.60 or $0.01, they make a huge profit, and that’s a very bad situation to be in.
So catastrophic failure is the most likely outcome here, as people with wildly unrealistic expectations and very limited experience investing acquire these assets, and then once the failure occurs, their opinion of the entire industry will be the same as Bill Maher’s, the same as a lot of people in the mainstream, like Charlie Munger.”
Dogecoin is trading at $0.5307 at time of writing and is up a whopping 73% in the past week, but down nearly 18% in the past 24 hours, according to CoinGecko.
Dogecoin - How a whimsical meme became the best performing asset of 2021
Dogecoin, a memecoin that was abandoned by its founders, is the best performing crypto asset of 2021, appreciating more than 12,000% YTD. With high-profile backers such as Elon Musk and Mark Cuban, can Doge stay the course or is it set to crash and burn?
You can immediately listen to it by downloading at the link below.
https://traffic.libsyn.com/secure/thecryptoconversation/doge_FIN.mp3
Guest:
Andy Pickering
Why you should listen:
Andy takes a deep dive into a new report by Galaxy Digital that takes a 360 angle look at Dogecoin’s fundamentals. The report finds a large amount of positives and some serious negatives as well. Dogecoin may have always been a joke, but it’s a joke that keeps getting both funnier and more serious too.
Key takeaway:
On the positive side of the ledger, Doge is the best performing major digital asset year to date. More people own Doge than at any other time. Doge is dominating the cultural conversation thanks to memes and to Elon Musk.
There are negatives. Dogecoin has zero development. Few people run full nodes, and those who do have difficulty downloading the chain or staying synced with the network. There’s no market infrastructure, barely any wallet software, and despite being more than 7 years old, many exchanges still don’t support it. There is no long- term narrative or use-case supporting its wide adoption. And it’s not clear whether DOGE holders are dogmatic about the coin’s long-term prospects.