In the past month, Dogcoin has performed surprisingly well. During this period, it experienced a 119% rebound and defeated other counterfeit coins
In the past month, Dogcoin has performed surprisingly well. During this period, it experienced a 119% rebound and defeated other counterfeit coins. In terms of market value, it even surpassed popular tokens such as Cardano and Solana.
Since the beginning of this year, the rise of dog coins has accelerated for the first time, indicating a bullish sentiment towards the token. Despite achieving incredible profits in the first half of 2021, the price of cryptocurrencies did not change much last year.
Elon Musk's acquisition of Twitter was a key factor leading to price spikes. The expectation that dog coins may become an important component of Twitter has led to speculative price increases. However, the bankruptcy of the FTX exchange wiped out almost all the gains. So what will happen to dog coins in the future?
The entire cryptocurrency market has been greatly affected by the collapse of the FTX Empire, but time can fix everything.
If DOGE becomes an important component of Twitter as many people expect, the token will include a new utility. If Dogcoin is included in Twitter, it is likely that DOGE will break through the $1 mark and soar. It seems that the future of Dogcoin mainly depends on Musk, but if he uses Twitter's own developed tokens, Dogcoin will become worthless.
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