DOGE is housed in the same boat as other tokens that have suffered the crypto’s downfall. Nevertheless, it is reportedly preparing some surprises.
DOGE is skating by… but not for long?
While all digital currencies in the blockchain are putting in place some action plans to see their value rise again, Dogecoin is no exception. In the midst of the turmoil, the coin’s founder Billy Markus took the opportunity to dot the i’s. According to him, the reason the cryptocurrency has collapsed is largely due to investors who do not know how the blockchain works and only get into it to make easy money.
A speech that is not unlike that of the journalist Emily Vox, who made the same observation. Thus, the biggest flaws of the crypto sphere would not necessarily be found in its structure but in the motivations of its users. For Billy Markus, it is time to take crypto-currencies seriously and not as a “casino” asset that we buy hoping to win the jackpot. A very serious argument since, for him, investors who use digital currencies correctly represent a drop in the ocean.
Nevertheless, let the enthusiasts of the small dog coin be reassured: it may be that for Dogecoin, the crisis is only a distant memory. According to Netcost-Security, the curves of the token are very encouraging and, while it has lost 5% of its value in 24 hours, the wheel could very quickly turn. Indeed, a bullish pattern is already emerging.
Analysts have identified a symmetrical triangle pattern on the intraday Dogecoin chart. This pattern is considered bullish for the coin itself. If this occurs, DOGE could see a 15% price increase.
However, the reverse can still be true. Therefore, it is recommended to be very careful before investing, and to spend only a reasonable amount of money.
Proponents of the old and new crypto sphere remain in opposition
Billy Markus has a very strong position regarding the industry. He doesn’t mince words towards investors, whom he considers to be less than commendable individuals, as their greed plays tricks on the crypto. Nevertheless, he is not the only one to think this and other great figures of the crypto sphere, such as Changpeng Zhao or the passionate Antoni Trenchev, have denounced the too pecuniary side that the industry was adopting. For them, only the true values of blockchain and the services it will bring to society will be able to give crypto credibility in the eyes of the world.
But trading enthusiasts and other users who have come to make their fortune have not said their last word. Unlike the big crypto entrepreneurs, who see the problem from the inside, the figures who invested in digital currencies without participating in the development of the ecosystem continue to encourage Internet users to make a fortune. Such is the case with the famous Robert Kiyosaki, who urges his Twitter followers to prepare their wallets for the right moment to allow Bitcoin to go through the roof. The long-awaited change to stabilize the industry may therefore create some conflicts before it comes to fruition.
