Hi everyone! Given that my Shiba Inu is not currently doing very well in the market 😁, I decided to take a deeper look at Dogecoin on Yahoo Finance News these days, and the predictions didn't sound that good either.
Although Dogecoin is still one of the most popular cryptocurrencies (#12 in the Market Rank), its value, like that of the broader market, has decreased by more than 20% in the last few weeks.
Dogecoin is right now at a value of $0.1743
🔻3.82% according to CoinMaketCap
| Whale transactions on Dogecoin |
|---|
| have increased in the last week, and in the last few days, the number of large transactions on the blockchain has increased by more than 148%. |
👇
This might be due to the position of Elon Musk with regards to electric vehicle manufacturers, being open to accepting such payments in Dogecoin and forcing the competition between whales who decided to move lots of money to Doge.
Furthermore, it is suggested that the first NFT has been created by a Doge developer on the Dogecoin blockchain.
However, Dogecoin has been losing ground and even though this investment from whales, it is now no longer in the top ten crypto ranks.
Unfortunately, Dogecoin is struggling with staying in the charts, adding small percentages to its value in the last few days, but we can never know what is going to happen. That's why I am reflecting on buying some Dogecoins. I guess I will wait until the coin drops even more.