The Crypto world keeps presenting new twists and turns into the investment space. Bitcoin experienced its soar, so did Ether. However, the summative percentage increase by the aforementioned two cannot measure up to dogecoin’s 26000% market increase. Unlike Bitcoin’s $21 million cap, dogecoin has no cap, and associating its supply to infinity would be sensible.
Elon Musk’s tweet-inspired patronage has the coin continue to increase in value and attract more buyers. Tonight’s, SNL hosted by Musk alongside Miley Cyrus will be empirical in determining the coin’s efficiency (ability to absorb and reflect news) in the market. Miley represents a keen teen following that has a huge appetite for dogecoin. Arguably, dogecoin has no solid value backing hence its rise is indicative of unsustainable market hype.
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