The cryptocurrency market is highly volatile, suddenly prices go up and down with a small piece of news. Recently Tesla owner businessman Elon Musk acquired Twitter after the finalization of a long-pending deal.
After this news came into the market the price of Dogecoin started rising again after a long period of time. Elon Musk is also called the father of Dogecoin because he has often promoted this meme-based coin. After his adoption of Dogecoin, the coin touched its all-time high price of $0.7376. Currently, Dogecoin is trading at the price of $0.1358.
Why the Price of Dogecoin is Rising Again?
After a long period, the price of Dogecoin has started rising again. The main reason behind this jump is Elon Musk’s Twitter deal. Some people think Musk will integrate DOGE with Twitter for its operations and this is a great platform to promote his favorite coin. Some people also say he will announce the acceptance of DOGE for payments for Tesla.
But till now there is no official announcement from his side. This is a golden opportunity for investors to grab some profits in their pockets using Dogecoin.
Is This the Correct Time to Invest in DOGE?
If you are thinking of a trader then this is a golden opportunity to book huge profits from Dogecoin. The trading volume and volatility have suddenly increased and you can buy in small dips and sell on small jumps. But for a long period of investment, we cannot say anything because there is no official statement from Elon Musk about the acceptance of Doge.
You can also invest some money in Dogecoin for a long time to get high gains but before investing keep the market risk in your mind.
Disclaimer: This article is just for information there about Dogecoin. All the facts and data are collected with our best efforts but this is not any investment advice. Keeping the cryptocurrency market’s volatility in mind, you can make your decisions.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.