The behavior that Dogecoin (DOGE) is taking in relation to its market capitalization is very peculiar, either because of the continuity of the convergence game, because of the support it is having from new investors of power or it is simply a new bubble that it is in transition to a normal characteristic when prices are inflated exposing them to senseless overbought. The truth is that DOGE is giving a lot to talk about and its creators are just like us, without having a clear explanation of why these market records occur.
For those who are not aware, DOGE was that token that was offered in the faucets to earn cents of a dollar and thus be able to attract new users in order to have a diversity in the initial portfolios, even now its own conception lacks fundamentals of weight and is limited to a simple explanation of the derivation of a joke, a meme that responded to an atypical behavior towards digital currencies. But from that point until now, we see that that space has been filled with several movements that make more than one think if this is really what the market wants.
Don't be surprised that DOGE is involved in markets that are unusual, from the world of sports with the support of the Dallas Mavericks, to the swanky space of luxury cars and hotels, from Bugatti, Bentley to 5-star sesors, from goodies, even the world of telecommunications through easyDNS Technologies Inc., the truth is that the number of companies that begins to participate in this digital dog market is increasing.
On the other hand, the inverse of the currency suggests that DOGE is the perfect justification to emulate a growing and real bubble that can affect cryptocurrencies. However, the deep rise that various digital sectors have manifested within the environment of altcoins and decentralized finance cannot be denied, and part of this movement operates DOGE.
The support received from this new wave of digital elite in training is nothing more than an impulse within a whole set of strategies that are valid in this burgeoning stock market world. However, it is worth wondering if this is necessary to mobilize the long awaited massification and usability that has cost so much in currencies like Bitcoin (BTC), for example.
Another latent fear is that this type of token is used to demonstrate a certain revelation that one has to those funds and investments that do so much damage and that this type of movements, in relation to DOGE, are more than a demonstration of a change in trend there may be in the definition of financial concepts. The truth, and as the creators of DOGE indicate, "not even they know what the answer is. The increase is part of the altcoins, a term for all the digital tokens that have emerged imitating BTC".
The truth is that everyone must be clear about their investment criteria, and any results they obtain on the pool they present with DOGE, is only within that token and avoid not generalizing a behavior in all the others. We will continue to see surprises, a DOGE that went from $ 0.01 to $ 0.4, and possibly mounted at $ 1 and why not, beyond a stipulated value. If this is what the market wants, this is what will be done to play with DOGE.
Next, I leave the links of some articles that helped me in the construction of this information. In these writings the subject is discussed in greater depth and will allow you to build a better opinion about the DOGE token and how it is influencing the development of the digital currency market.
https://www.elfinanciero.com.mx/tech/2021/04/16/en-el-giro-mas-loco-dogecoin-repunta-a-un-valor-de-mercado-de-casi-50-mil-mdd/#:~:text=Ni%20su%20creador%20tiene%20la,han%20surgido%20imitando%20a%20bitcoin.&text=El%20dogecoin%20con%20tem%C3%A1tica%20de,y%20Jackson%20Palmer%20en%202013.
This article contains its own information and there is no room for plagiarism. You can also find this writing on my Publish0x blog under the following link that I leave at the end of this paragraph.
https://www.publish0x.com/cryptographic-alchemy/dogecoinrise-a-crazy-turn-of-the-market-xnqdlly
