Dogecoin Slumps, Falls 23% As Elon Musk Criticizes DOGE List

Dogecoin

El Dogecoin It is another cryptocurrency, derived from Litecoin and that uses a Shiba Inu dog as a pet. In fact, that symbol was born as a viral meme from the Internet, which would not make you imagine the value that this cryptocurrency would reach, since last month it was seen how it soared by 1000% of its value, as a result of the coordination of some actions, such as the endorsement of characters like Gene Simmons (musical group Kiss), Elon Musk (Tesla / SpaceX), or rapper Snoop Dog.

Un speculative move which has brought great profits to many operators, but also some losses to others. Thanks to these historical values, it went from being worth 0.007 euros on January 4, 2021 to 0.073 euros on February 7. That is to say, in just over a month it has revalued a real outrage, which could have made large amounts of money win those who had invested when the currency was at low values ​​and sold while it remained at its maximum.

But of course, everything that rises usually falls, and the Dogecoin (DOGE) has sunk 23% in a matter of hours this February 15. Therefore, all that hype generated in the previous period, went to the fret after Elon Musk will turn heads on the very uneven distribution of DOGE currencies and will urge the main holders to sell their holdings.

The guru's words have had a strong repercussion. You already know that little things can greatly alter the stock market, and also the trading values ​​of these cryptocurrencies. But what Elon Musk demanded is true, and that is that the Dogecoin is 28.7% in the hands of a single person, and the 12 main holders own almost 50% of the current available supply. Almost 70% of the total is estimated to be in just over 100 addresses.

«If all the major Dogecoin holders sell most of their coins, they will have my full support. In my opinion, too much concentration is the only real problem«. Musk is quoted.

About 7 hours after that message, the price of Dogecoin it was down 23%, going from $ 0.063 to $ 0.048.

Moreover, the founder himself Dogecoin recently revealed that it had sold its entire DOGE holding company in 2015 due to financial difficulties after losing his job.

Billy Markus He claimed that he started Dogecoin as a joke in 2013, because of that meme I have quoted. He himself has been surprised by the tremendous rise of this currency, which at no time did he think it would reach those values. He did not imagine that Elon Musk's flirtation with the Dogecoin would drive him as he did, much less did he imagine that this same driver would also become his ultimate depressant ...


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