The whole crypto market is down, and the Dogecoin project is one of the most affected. The community seems to be in shock. Their self-appointed leader is nowhere to be seen. The premier meme-currency has lost 70% of its value since its peak in May. Its market capitalization shredded a whopping $72B in the same period.
Is the Doge Army going to keep holding and buying the steep dip? It seems that way. In the last few hours, the price shows signs of recovery. However, the recent red candles are a scary sight.
Sorodno branje | Dogecoin (DOGE) Blasts Higher in Another Nonsense Rally; What’s Next?
To be fair, so far Elon Musk hasn’t advised anyone to buy Dogecoin. He did promise to work with the developers to “improve system transaction efficiency.” Did he deliver on that?
Sodelovanje z razvijalci Doge za izboljšanje učinkovitosti sistemskih transakcij. Potencialno obetaven.
- Elon Musk (@elonmusk) Maj 13, 2021
And he did say that Tesla was going to accept DOGE, and something about a DOGE-powered space mission. If you’re generous, those two can be understood as “trolling.” However, in the following tweet he seems to promise, or at least hope, that Dogecoin will “become currency of Earth.” (sic)
Za tiste slabe matematike 👆 100-krat večji obseg transakcij s 100-krat nižjimi provizijami pomeni, da skupni zasluženi honorar ostane enak. Nizke pristojbine in velik obseg so potrebni, da postanejo valuta Zemlje.
- Elon Musk (@elonmusk) Maj 16, 2021
Is the Doge Army in the right when they call Musk to help them in their time of need? Is he breaking promises by not even mentioning the cryptocurrency anymore? In fact, Elon hasn’t even mentioned any cryptocurrency project since he was called out by Anonymous. We’re not implying causality, but it’s curious.
Just as we’re not implying causality when we say that Dogecoin’s crash began during Elon Musk’s appearance on Saturday Night Live.
The Doge Army Asks For Help, Elon Tweets About Rockets
The billionaire is a busy man, there’s no denying that. But, so far, he’s not responded to the Doge community’s cries for help.
Falcon landing or falcon taking off its not important anymore man because we have a doge crisis OK , we have no mode to watch or track your falcon anymore seriously
— Captain Reed Ocean (@OceanReedOcean) Junij 22, 2021
Hey, Elon when you tweet Again with this caption THE DOGE FATHER.
I have lost 90% on my doge investment 😪 but still I love doge no matter what.
— 𝑴𝒉 𝑯𝒂𝒔𝒔𝒂𝒏 (@Hassan91251325) Junij 21, 2021
@elonmusk doge is way down ! Do some work
— bbc(benjamincbitu) (@BituEduard) Junij 21, 2021
Some people might think he’s not responsible for the sudden dip, and he owes nothing to the Doge Army. However, there’s a case to be made that he does. And we’re not the only ones who think that way. A few weeks back, Cardano’s Charles Hoskinson tried to teach Elon how to fix Dogecoin and at the end of the video said:
»Iskreno hvala, ker ste vstopili v naš prostor. In iskreno hvala, ker ste vsem povedali, da boste prevzeli skrbništvo nad to kripto valuto in poskrbeli, da bo prišla tja, kamor mora iti. In veselim se odličnih novosti, s katerimi se boste predstavili čez leto ali dve. "
Grafikon cen DOGE na Bitfinexu Vir: DOGE / USD dne TradingView.com
Sorodno branje | Kako bi lahko na Bitcoin vplivalo Powellovo pričevanje naslednji teden, se bo BTC spet zrušil?
Other Dogecoin Heroes Arise
While Musk was tweeting about rockets, Billy Markus, one of Dogecoin’s co-founders “bought dogecoin after 8 years of vowing never to buy crypto again.” Was he just buying the dip and making an investment? Or was he trying to help raise the Doge Army’s morale? Maybe a little bit of both? Interesting questions that we can’t answer at the moment.
Kupil sem dogecoin po 8 letih obljube, da ne bom nikoli več kupil kripto, pred eno uro.
Od takrat sem ceno preveril 7-krat. Povečal sem se za 10 %, zdaj pa spet na 3 %.
Kakorkoli, to se zdi zdravo.
- Shibetoshi Nakamoto (@ BillyM2k) Junij 22, 2021
Back to Elon, this article can’t end without remembering another one of his promises:
Samo če Doge tega ne zmore. Velika bolečina v vratu, da ustvarite še eno.
- Elon Musk (@elonmusk) Maj 16, 2021
With DOGE’s crash in mind, is this man thinking about releasing his own coin? He might be.
Predstavljena slika avtorja SpaceX on Unsplash - Grafikoni TradingView
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