Dogecoin, which started as a meme currency but received a lot of support from the billionaire tycoon in the past few months also gained in value. But this positive trend in the cryptocurrency market is no guarantee that it will see the bull run, which started at the beginning of this year, again so soon. At most, the value addition to the price of Bitcoin and other digital currencies over the past two days most likely seems temporary.
What are your thoughts about these 2 coins' future and is it possible that Musk will decide to the hype on something else also? Green coins are getting more popular. Why doesn't he mention any of them? Which one do you think needs such a kick?
It's very unlikely for Dоge to see another bull wave, in my opinion.
People are now desensitised to the erratic movements of the markets and are unlikely to buy into any further hype when it comes to memecoins that have no utility.
Besides, the macroeconomic conditions would suggest that we will have a long 2022 due to tightening interest rates worldwide. Crypto does not respond favourably to these macro conditions, so that is definitely something to consider. BTC should hold up nicely though since it is considered to be a reserve asset and a form of storage of value in these very volatile times.