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Dogecoin inches closer to reaching $1 and flipping BNB

As of this moment doge coin (DOGE) is trading at $0.7145 USD with a total market cap of $92.6 billion USD and approx ~$3 Billion from flippening BNB and taking 3rd place in global cryptocurrency ranking by market cap. To me this is both funny and disturbing that a joke coin is literally joking around with the future of financial system.

On top of that Dogecoin’s bullish momentum is hinged on Dogefather Elon Musk’s Saturday Night Live (SNL). Fans of DOGE are reportedly planning ‘watch parties’ of the episode and could result in more gains. But sellers could be targeting the SNL episode for a classic ‘buy the rumor, sell the news’ event.

source: CoinMarketCap

Dogecoin fans and investors are optimistic that the founder of Space X and CEO of Tesla, will do an SNL skit on Dogecoin as seen through the following Twitter conversation between Elon and crypto community member, Chris – Global Shenanigans.

Fans are going crazy over this and hashtag #DogeCoinTo1Dollar is trending on twitter in some countries with flood of memes coming in. I bet Elon Musk secretly enjoys all this and there is a fair possibility that Elon Musk will do a Skit on Dogecoin in today Saturday Night Live (SNL) and take Doge to moon again with flipping BNB if not for long than for few moments to bring joy to its doge fan base.

Well, let’s see but if at all this happens. I am sure we will have more millionaires in next few days finger crossed.

Also a word of caution here that with all analyses of Dogecoin, DOGE markets are extremely volatile since its price movements are based on social media sentiment and not technical analysis. In addition, spot markets might be a far safer option to trade Dogecoin given the possibility of a ‘buy the rumor, sell the news’ event during the SNL episode.

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[…] forward to celebrate it to cross $1 milestone last week when Elon announced that he will be hosting SNL show. But it went opposite and party crashed when Elon struggled to explain what is DOGE coin and […]

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[…] There is also an address attached that reads “Address: The Moon, Fate Loves Irony, 05/08/21, NYC.”  “The moon” refers to Dogecoin’s astronomical 20,700% rise in value over the past year. Meanwhile, “Fate Loves Irony” is a catchphrase often used by Tesla CEO Elon Musk, who has played a key role in promoting Dogecoin. […]

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[…] month, Miami’s luxury night club, E11even, announced that it would add Bitcoin (BTC), Dogecoin (DOGE), XRP, and Bitcoin Cash (BCH) to its payment options to pay for tables, drinks, and […]

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[…] Musk has been one of the world’s most high-profile proponents of cryptocurrencies, often tweeting about Bitcoin and the once-obscure digital currency Dogecoin. His tweets in recent months helped to turn Dogecoin (DOGE), which was started as a social media joke, into the world’s fourth-biggest cryptocurrency. […]

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[…] Dogecoin has no real value or use and yet it is rising completely on hype and social media speculation. It has been found that people who are trading dogecoin are comparatively new to crypto trading and don’t understand this market really well. […]

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[…] community took to Twitter to note how incredibly brilliant all of Musk’s performances were. Many DOGE supporters quickly made bullish tweets in hopes that the asset would soar to new highs after […]

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[…] than 20,000% increase in one year. On 8th May 2021, Dogecoin reached $0.70 in expectations of reaching $1 given Elon Musk’s SNL event. But after the event, Dogecoin dropped 34% from $0.711 at the […]

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[…] to its slogan “Safely to the moon”, it is often compared with Dogecoin which has a slogan “To the moon”. However, SafeMoon seems a more thoughtful and well […]

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[…] the last year. It has reached a mark of $0.78 in May at an all-time high (ATH) after Tesla CEO Elon Musk’s multiple attempts to promote the meme-based coin. However, it dropped by more than 40% since then. […]

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