No reason to panic over Dogecoin prices
Former USOCC Acting Comptroller Brian Brooks speaks about Dogecoin and other cryptocurrencies
According to Brooks, Bitcoin and other digital currencies will suffer because of panic over Dogecoin prices.
In recent weeks, Dogecoin has lost almost 30% of its worth, leading Brooks to talk about what he views as a halting of the project. A Dogecoin market cap of $38 billion is currently trading near $0.30 on Binanco.
“It is extremely crucial not to let the price walking of Dogecoin wind up threatening the death of bitcoin or Ethereum and other innovative projects.”
“Elon Musk and Saylor’s attention is significantly turned to Bitcoin mining councils. It is unclear whether that is an advantage or a bad thing, however it shows they are working to establish themselves in the crypto area,” Brooks stated.
Compared to in 2015, Dogecoin’s price rose significantly. After a surge of retail trade demand, DOGE reached its all-time high up on 8 May, reaching almost $0.73. Dogecoin has gotten approximately 7,000 % considering that January.
Dogecoin is one of the top cryptocurrencies within its market cap, according to Digital Currency Group CEO Barry Silbert. In his short article, Selbert points out that in spite of its potential, DOGE is not worth the $37 billion market capitalization.
“The future of Doge really excites me. The community is passionate, so it does not appear to be going away soon. “ Silbert tweeted that it isn’t worth $37 billion though.
A rumor about Elon Musk’s involvement with Dogecoins was just recently eliminated by the Tesla CEO. According to Musk, Dogecoin does not have an official organization, so he has limited control over its administration.
