After Elon Musk, DOGE shilling is in Snoop Dogg!
Dogecoin (DOGE) is undoubtedly one of the most talked about cryptocurrencies of the last days. DOGE's adventure started with Elon Musk weeks ago. One of the richest names in the world, Musk posted a few tweets about DOGE "again" supporting its rise. This action, which can be seen as manipulation in regulated markets, was met with enthusiasm in the crypto money markets.
Elon Musk and the DOGE Effect
After Elon Musk tweeted about 10 tweets about DOGE , the price experienced an incredible rise and then entered the consolidation process. DOGE, which has reached the level of $ 0.080, is trading at $ 0.05 at the time of this writing. Despite its correction, DOGE is still up 105% in 7 days.
Those who bought the DOGE price at the top or announced that they would buy started to show themselves gradually. Firstly, Gene Simmons, the lead singer of the world-famous KISS group, announced that he bought DOGE. In the continuation of Simmons, he tweeted that he received DOGE compatible with the name of rap star Snoop Dogg, which is known all over the world.
Snoop Dogg also in the DOGE Army
The visual in the tweet published by Snoop Dogg is based on the mascot of the famous project. Snoop Dogg, who tweeted this pinned and tagged Elon Musk, points out that there may actually be a trend among celebrities. Recently, another famous name such as Mia Khalifa announced that they have acquired DOGE.
When celebrities are slowly getting DOGE or tweeting about it, things can change dramatically. Despite this, it seems unlikely that the price of DOGE, which has an unlimited supply, will increase only with the support of celebrities in the long run. However, if significant changes can be made in the project, the situation may be different.
Does DOGE Have a Foundation?
Launched years ago as a purely joke and faction, DOGE's founder Jackson Palmer left the project long ago. Considering these conditions, it can be said that the project, which everyone is interested in, including Elon Musk, only benefits from the "breast" culture on the internet. However, it should not be forgotten that, like every trend, this also risks ending soon.
When celebrities lose interest in DOGE and individual investors lose money, the DOGE price can go much lower than where it started.