Notably, Elon Musk tweet pumped over 9 per cent in value by the earlier day of Dogecoin on December 25. Moreover, McDonald’s response to Elon Musk’s push for the fast-meals chain to accept dogecoin generated a brand new cryptocurrency called grimacecoin to rise greater than 285,000 per cent, according to numerous media reports.
Note, nevertheless, that since Doge is such a peculiar crypto undertaking, it does include some cautionary tales. The coin is beloved by pump-and-dumpers – individuals who love to manipulate the market, artificially inflate the worth of a specific cryptocurrency, after which dump all of their coins, thus crashing their value exponentially.
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