“A lot of people I talk to on the production lines at Tesla or building rockets at SpaceX have DOGE. They’re not financial experts or Silicon Valley techies. That’s why I decided to support DOGE. It seemed like the people’s cryptocurrency to me,” he said. Musk.
Musk said that he personally owns three cryptocurrencies: Bitcoin, Ethereum and Dogecoin. Every time you tweet about DOGE, the price tends to go up. When Time magazine chose Musk as the person of the year for 2021, the price also went up.
Dogecoin in 2022
The beginning of 2022 was difficult for cryptocurrencies. It is that most of these assets are still correcting from the highs recorded by Bitcoin and Ethereum on November 10, 2021. Dogecoin (DOGE), on the other hand, reached all-time highs in May, months before Bitcoin and Ethereum reached your most recent peaks
Since that month, this altcoin has been in a downtrend. On February 8, the DOGE was trading at less than a quarter of the level reached in May. However, its market capitalization still places it among the top 10 cryptocurrencies in the asset class.
Source: Ambito
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