Extreme speculation. Among the categories of sports, there are extreme sports: in cryptocurrency trading, the equivalent is speculation on memecoins. Even a non-event like the one that just recently happened on the network X (ex-Twitter)Elon Musk enough to propel cryptos like Dogecoin (DOGE) up.
Payments network X, wanted by Elon Musk, drives Dogecoin up
From a recent conversation within a conversation Space, Elon Musk said he still owned Dogecoin – and SpaceX still had Bitcoin (BTC). Today it is again memecoin with the smiling Shiba Inu dog logo which is making waves, following strong news buyer speculation around… almost nothing.
This weekend on the night of January 20 to 21, 2024, the price of Dogecoin thus suddenly jumped by +12% in just a few hours. DOGE thus rose from 0.079 cents of the dollar to almost 0.09 cents. There reason ? There was no need for a single word or tweet from the CEO of Telsa and Space X for this.
Because it is the simple creation of account of the social network’s future peer-to-peer payment solution, “ X Payments » (see below), which created such craze among buying speculators. Indeed, in addition to Bitcoin, Dogecoin is also on the list of potential payment methods who could integrate this ecosystem on X.
It will be noted that the account X Payments in question also did not not posted a single word/tweet to provoke this little buying frenzy (which quickly calmed down). But obviously, a simple raise of eyebrow of Elon Musk is enough to be interpreted as a buying signal on memecoins relating (nearly or very far) to his person. From there to sending Bitcoin and Dogecoin to Mars, it would only be one step to do ?