Dogecoin market capitalisation jumped by $2 billion in one hour.

[Flow-er]

There is a news circulating on the internet and that Elon musk is willing to buy Twitter for a whopping sum of 44 billion dollars. Following this announcement it was known that the Dogecoin transaction increases tremendously. The market cap of the Dogecoin increased by 2 billion dollars in a space of one hour, immediately after the announcement was made.

The memecoin bellwether increases in market value from $0.1248 to $0.1374 in a very fast manner. You will recall that the Dogecoin failed to improve in a certain period despite the backings that it enjoyed from the whales. This is the right time to keep accumulating Dogecoin because it will surge even further as the process of taking over Twitter by Elon musk unfolds.

This is a positive news that most read and mostly followed as an investment strategy in a cryptocurrency space. Elon musk is a force to reckon with in the cryptocurrency space and his influence can not be shaken. He has invested substantial amount of money on dogecoin for a very long period Of time and it was made known that he also invested a good amount on dogecoin for his children. Tesla and SpaceX I also have a good amount of the memecoin in their portfolios.

 

[saoussen5765]

This is the power of money so if you have more money you will dirige better the world and have the biggest opportunity to invest in many tricks or purchases and hold more crypto.

 

[Lens1000]

There are still a lot of questions that need to be asked . they dogeoin jumping by 2 billion dollars in market capitalisation is a big improvement. This is to show that there are so many investors that had taken the trading direction of Elon Musk. The influence of the richest man in the world on cryptocurrency cannot be put aside . This man has made a great impact in the cryptocurrency world. You can remember that bitcoin reached its all-time high last year when Elon Musk announced that we will be headed to one of the payment option of Tesla. The bitcoin is used to purchase the luxurious electric cars manufactured by Tesla and this alone made the coin to surge very high in the crypto market. We are of the opinion that Elon musk is backing the dogecoin now and it will be a very good advice to invest on the dogecoin presently. This is what they call copy trading in the financial market because you will copy the trading strategy of the expert in the field to make profit. In this regard or in this scenario Elon Musk is the expert and the smaller investors would make profit by copying his strategy.

 

[Mika]

This does not surprise me because every minute 10 thousand dogecoins are released in the dogecoin network through the process of mining, which means in one hour 600,000 new dogecoins will be released in the market. Market cap means the total worth of something based on its availability. Market cap is directly proportional to the price and the availability. IN terms of dogecoin perspective, every hour the circulating supply will increase by 600K, the 600k new coins are released, the market cap will appreciate by the number of new coins times the value per coin. Ever since the news about Musk taking over Twitter started circulating in the market, people started to invest in dogecoin. This created the demand for the meme coin, and when there is a demand the value will also go up (this is how crypto market operates). Since Musk was promoting dogecoin on Twitter in 2021, people assumed that after Musk buys dogecoin, he will again continue to push the coin and the investors will start benefiting. However, Musk intention is unknown even in terms of Twitter course action, let alone dogecoin. I lost faith on dogecoin a long time ago because I believe the unlimited supply will never help the price to go too high