Doge Coin is on the rise

Dogecoin is on the rise again. The rise of Doge, the ancestor of Memecoins, also activates other coins. It even affects the rise of cryptocurrencies such as Bitcoin and Ethereum. How long will this rise last? Will Elon Musk continue to support Dogecoin?

What’s Doge Coin

Elon Musk is the most important person who has made Doge Coin so popular in recent years. Musk’s views on this memecoin caused its price to rise. Investors “What is DogeCoin? How to get it?” he’s doing research.

Doge, which was released in 2013 and has a photo of a Shiba Inu dog on it, was released as a joke cryptocurrency. It is currently traded on many cryptocurrency exchanges. Tesla CEO Elon Musk’s investment in Doge coin is the biggest reason why it is preferred by investors.

Rise of the Doge

Support by Elon Musk has pushed up the price of Doge Coin. In this way, it became one of the important cryptocurrencies supported in the market. Elon Musk is seen as the father of Doge, which attracts the attention of investors. It would be more accurate to say stepfather 🙂

The most important issue that those who invest by relying on Musk’s advice complain about Musk’s constant change of mind. One day he may complain about energy efficiency and the next he may say he will sell cars with cryptocurrency. Because of this situation, investors do not keep their long-term investments in Doge Coin.

Doge Coin got its share from the rise seen in all crypto assets. The rise in Bitcoin makes its altcoins gain value. That’s why Doge Coin is on the rise.