It’s all the more remarkable given that other retail favorites from bullish stock options to Cathie Wood’s tech fund have all seen activity dip from the highs earlier this year. A year ago, the asset was worth just $315 million. The overnight gain took Dogecoin’s one-week advance to 118% and its value to $87 billion in Wednesday trading, according to data, eclipsing the largest exchange-traded gold fund and even stocks like Fedex Corp. But it’s got the moniker of the people’s coin right now and it’d be very dangerous to be short.” “I worry that once the enthusiasm rolls out, there are no developers, there’s no institutions coming in.
DOGECOIN ETHEREUM BRIDGE 2021 FULL
“When you think about the full spirit of what this crypto revolution is, there’s something pure in what Dogecoin has done,” Mike Novogratz, founder of Galaxy Digital Holdings, said on CNBC. co-founder and crypto fan Elon Musk is appearing on Saturday Night Live this weekend, spurring speculation he may talk up Dogecoin again on the comedy show. A potential trigger for the latest leg up: Tesla Inc. While in the past, trillions of dollars in stimulus by governments and central banks might have triggered a rush into gold for the inflation-wary and risky stocks for the intrepid, a deluge of cash this time round is flooding into the nascent crypto market.įew illustrate this better than Dogecoin, a so-called memecoin that’s become the destination for a horde of day traders egged on by Internet buzz and a self-propelling buying frenzy. It’s the latest milestone in a year of speculative excesses for a market Nouriel Roubini once described as “the mother of all bubbles”. Useless or not, the coin has been swept up in the crypto mania that’s gripped markets awash in central bank largesse. That’s how much the digital token is nearly worth in dollar terms after jumping again in Wednesday trading. For anyone who still thinks Dogecoin is a joke, there are some 90 billion reasons that say it’s not.
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