Dogecoin rises 4,652% in 2021: the trendy memecoin

Between the Top9 and the Top10 it moves, depending on where it is consulted, Dogecoin, one of those cryptocurrencies who have ascended to heaven in the last two years for multiple reasons despite the fact that they are about to turn 10 years old in the blockchain universe. Let us remember that we are talking about a world, that of cryptocurrencies more than broad.If we look at Stadista data, in November there are 7,557 active cryptocurrencies around the world.

Cryptocurrencies and their progression in the world

This is exactly 5,900 more than just two years ago., exponential growth that reaches 354% no less. But the privileged positions are occupied by the most capitalized. This year Dogecoin, the trendy crypto among others in the market, has joined the trend.

And is that his godfather is none other than Elon Musk, the richest man in the world, and among the great of the great, the most communicative through twitter.Hence, its support, reference or simply by the fact that it names a cryptocurrency, already becomes the protagonist.

But in the same way, the owner of Tesla also puts on the table what he considers negative for a stock that has been losing positions, but rebounded in yesterday’s session. EIt is losing constant positions in the last three months in the market, of the order of 18% in particular and continuing. Only in the last month the cut reaches 26%, although from a meteoric rise: 4.652% in the year and since November of last year, its revaluation is 6,820%.

Dogecoin price in the last year

The latest is Elon Musk’s Twitter clash with Binance due to a failure that has occurred in its blockchain, which explains part of those losses that we talked about in the last quarter and especially in the previous week. And is that Binance froze the withdrawal of this crypto for two weeks after that software failure.

Elon Musk poems with Binance on Dogecoin

Binance’s response was post on Twitter the reviews that have been seen on some Tesla models due to electronic failures, before that “murky” that Elon Musk spoke of. Specific, the recall in the United States of 12,000 vehicles for that communication error that warns of a frontal collision.

But Dogecoin, which as everyone knows has as its symbol the image of a Shiba Inu breed dog, it also has its detractors. Without looking for much the CEO of Ripple, the competition in crypto.Braad Garlinghouse consider that doge it is not good for the market because of its inflationary dynamics and its unlimited supply.

For Alejandro Zala, Country Manager of Bitpanda Spain “One of the most important moments of Dogecoin, created as a joke in 2013It came a few months ago when the stock market went wild over the epic battle between the Reddit community and the hedge funds. “

It also considers that “with many small investors from around the world supporting cryptocurrencies through social networks, certain currencies are receiving a large appreciation, Dodgecoin is one of them. In Spain, we have never seen such an important bet from the retail investor in such a short time, and this is just the beginning. As with any other investment, financial education is important.It is key to understand what you are investing in ”.

Alejandro emphasizes that “Memecoins were born as a joke. However, in recent months important investors with global influence, such as Elon Musk or Marc Cuban have bet on them. One year, for example, Dogecoin has been one of the most profitable investment assets (cryptocurrencies or not), more than 6,500% ”.

Learn to invest in Cryptocurrencies with the course that carries out Investment Strategies

We wish to thank the author of this write-up for this incredible content

Dogecoin rises 4,652% in 2021: the trendy memecoin

Dispensary Business News