The dogecoin price, up over 11,000% since this time last year, has struggled in recent months even as the price of bitcoin and ethereum have returned to near their all-time highs.
“The people telling the truth will tell you that it’s just all about risk.
The dogecoin price has surged almost 20% over the last few hours, with the market capitalization of it and shib inu now both over $40 billion.
Musk has this year adopted dogecoin as something as a pet project, appearing to sour on bitcoin even has Tesla continues to hold billions of dollars worth of bitcoin on its books.
“Elon Musk could be the one to settle this, if he tweets to remind us he will soon be sending ‘a literal doge to the literal moon’, with his planned DOGE-1 satellite launch,” added Goodman.
However, some do think there are legitimate reasons for investors to buy both the dogecoin and shiba inu cryptocurrencies.
I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.