Elon Musk is a real Dogecoin fan after giving praise on Twitter for the second time. Elon Musk, who turned out to be a supporter of cryptography, gave DOGE another boost with a meme-based tweet.
Dogecoin could prepare for a new rally
DOGE is also known for not striving for a quick upgrade. DOGE is currently trading at $ 0.002 and is ranked 33rd by market cap. There are already more than 123 billion DOGE in circulation, with more than 31,000 transactions per day.
DOGE is a stable presence in the world of cryptos, even if the memo-based character of the coin limits acceptance. Dogecoin has also been supplanted by the arrival of stablecoins as base pair coins and is not often used for arbitrage and the transportation of coins between exchanges. The entire crypto community was enthusiastic about the Musk support and may be expecting a price action.
Dogecoin could indeed be ready for a run as trading activity is almost record-breaking after it reawakens in 2020. Last month’s DOGE trading was active at over $ 150 million a day. So far, DOGE has not been able to repeat its record days from 2017, but of course that has almost no cryptocurrency.