Tesla Boosts DOGECOIN And Wants It To Stay At A High Price
Cryptocurrency meme posted an increase of more than 20% and critics say the long-term gains will be incredible
The last few weeks have seen disappointing progress in the cryptocurrency decline, where the strong push from Bitcoin has kept cryptocurrency investments on the ground.
This has resulted in the loss of excessive money worldwide.
In the case of DOGECOIN, it is an excessively manipulable cryptocurrency in the market, which had already been falling since before the leading cryptocurrency had its temporary fall.
This memecoin, to any opinion has a reaction, both good and bad, and Elon Musk has been the most influential person in its rise or fall of its market capitalization.
For this reason, today it also stars in a new story with the most sought-after digital currency on the internet.
DOGE is classified as a currency that "drives to buy"
This, in the words of the CEO of Tesla, is the reality that occurs within the cryptocurrency market.
Put the leading currency, Bitcoin, as an argument. Affirming that this, having such a high value, people have the action, practically unconscious, to protect it and keep it with them, that is, they do not think about "selling".
This seems to reveal that bitcoin and currencies followed by it, maintain an immobility in the market, which is not pleasant for many of the millionaires who bet on cryptocurrencies.
And this is what Musk clarifies in his speech. Also, repeatedly pointing out that "DOGECOIN is the best asset for transactions", since it has a low and excessively fluctuating value, investors sell and sell this digital asset.
All this soliloquy to give a reason for the decision made by the electric car giant.
Tesla will accept DOGECOIN coins as a payment method
Using cryptocurrencies in physical sale commercial transactions is something that has already been seen for some time. The innovation of placing Bitcoin as legal tender in various areas of the world has also generated a certain normality in these transactions with digital currencies.
Tesla had already placed the statement at the beginning of the year, which would accept Bitcoin as a payment method, which generated the rise of this asset, as many of us remember.
Now the idea is to also integrate DOGECOIN among these options, to buy both cars of this brand and accessories from Tesla.
That their clients are motivated in some way to use this cryptocurrency, seems to be the purpose of this decision. Highlighting again the suspicion that Musk is behind this digital asset, as you can see that he cares about him.
In his tweet, where he announced this decision, he stated: "We will add DOGECOIN as a payment method, and we will see how it goes".
To the point and bluntly, ending immediately with a DOGE price change from $0.17 to $0.21.
But this only lasted a few hours. Right now it is, according to CoinMarketCap analysis, at a depressing price of $0.16.
The mystery of the deposit of more DOGECOIN
Before this news occurred that shook the price of DOGECOIN on December 14. The great search token on the internet, entered numerous new cryptocurrencies with its seal.
This appears to be a big fluke of over $800 million in DOGE, as contributed by the WhaleStats analysis page.
A coincidence that was not enough to keep the memecoin above USD 0.16, hinting that cryptocurrencies at this time do not want to maintain high prices, but quite the opposite.