News Crypto and cryptocurrencies

Dogecoin resumes its run after the drop occurred in coincidence with a tweet from Elon Musk

Has Tesla Founder Lost His Magic Touch?

Yet another tweet from Elon Musk, actually quite cryptic, it coincided with one noticeable decline of Dogecoin, which lasted a few hours. A doubly significant event: on the one hand it interrupts a favorable trend for the meme coin, on the other comes to coincide with the umpteenth growth of Shiba Inu, now considered the Doge Killer par excellence.
So much so that in these hours many are wondering if the magic touch of Elon Musk has been lost and, above all, if the combination between the South African billionaire and his favorite token has not been broken.

dogecoin - Dogecoin resumes its run after the drop occurred in coincidence with a tweet from Elon Musk

Elon Musk's tweet

The message entrusted to Twitter by Elon Musk seems in fact difficult to interpret, not being accompanied by words capable of clarifying the mystery. Simultaneously with the message from the founder of Tesla, Dogecoin however it started to go down and this was enough for many observers to declare the romance between Musk and the token concluded.
A conclusion that, however, seems premature at the least, especially considering how the token then resumed its run, in a sustained manner. Also because in these hours the most important issue is represented byupdate 1.14.4 on nodes. Which must be carried out by all those participating in the DOGE network.

Update 1.14.4 results in a drop in fees

In fact, the update issue is far more important right now than Elon Musk's tweets. So much so that it was supported by a series of messages from Billy Markus, or the one who together with Jackson palmer he started the project, only to deny it.
It was he who tweeted repeatedly, inviting the nodes to update themselves. Recalling that this is not a secondary issue, in light of the fact that they are responsible for keeping the network running, validating transactions and keeping the blockchain. In particular, with this update the cost of commissions would be adjusted, downwards.

AMC's move

The importance of a lowering of Dogecoin's commissions is not a question of goat wool. Just recently, in fact, the AMC company announced its decision to allow token payments within its cinemas, using the system provided by BitPay for this purpose.
A decision, the one made by Adam aron, the CEO of AMC Entertainment Holdings, which came after a survey in which the community of fans of the meme coin also participated with all its strength. Giving life to a result that goes well beyond the expectations of Aron himself.
It should also be emphasized that before the decision to hold this poll, Elon Musk had tweeted a message in which he invited to break down the size of the commissions. In such a way as to favor the introduction of payments in DOGE within various commercial structures. Starting right from the cinemas.

Could the battle between DOGE and SHIBA soon rage?

The momentary decline of Dogecoin and the growth of Shiba Inu have naturally rekindled them rumors of an upcoming sword fight between the two meme coin champions. If currently the battle is still uneven, considered as DOGE is in 10th place in the ranking of CoinMarketCap, with a market capitalization of more than 32 billion dollars, three times that of SHIB, which in turn stood at 19th, however, it must be considered that the growth rate of the latter is much more accelerated in the medium term. So much so as to push many to foreshadow a battle already over the next few months.

Buying Cryptocurrencies? Exchange Binance Binance

Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

Similar posts

Leave a comment

Your e-mail address won't be published. Required fields are marked *

Back to top button