Next Coin To Spike

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The alternative coins have been doing amazingly well this year so far. Various coins have been done multiple multiplication and exponential increment. One of such is a popular meme coin called Doge. Doge is a coin that depict a dog and was created almost for fun. The fun coin is fast becoming a special coin.

What makes Doge special? A man called Ellon Musk - Musk adoption of the coin as a means of payment for his company's product (Tesla cars) created more value for the coin. Doge has been underrated by many market watchers because they seem it has nothing strong to drive it's price sooner. Until Musk picked it up and bought quite a volume. He also announced that his company will be ready and willing to trade in it.

His statement on Twitter propelled lots of market watchers and traders to keep an eye on the coin and also speculate it's price range short term, medium term and long term.

My take is firstly; if any other influential individual or company adopt any particular coin or token tomorrow, that means more value will be created for such coin or token and the price will sky rocket in multiple folds. This will be good for the Crypto market and for the would be coin or token.

Secondly what if Musk decided tomorrow that for some reason or the other, his company will not be accepting the coin for direct payment for their products and he himself disposes all of such coin in his possession. What will be the fate of Doge? Remember it's a meme coin and Musk had at one point called out the developer of Doge to realise substantial amount of it from their possession into the market to reduce their Holden's otherwise, he would dump the coin.

We don't know what has happened, is happening or will happen behind the since between the developers and the coin promoter (Musk). Whatever it is will have direct implication on the price movement of the coin and it's total market cap.

I am happy for Doge and not pessimistic. Doge could be another gold mine if everything went well between the major backers of the coin. This could be a win win situation for all investors and traders in the coin.



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