What is going on in the cryptocurrency industry?
Talking about cryptocurrencies, which are having a big drop this January. Last week, it was a huge storm took the market down. As well, Bitcoin dropped off to $33k, Ethereum back down to $2,172, while Dogecoin got back to $0.12.
Basically, that normally happens any time every year. Because digital coins are not stable. But, the only thing which actually takes the market by the storm is when Elon Musk mentions memes on Twitter.
On 13 January this year, Musk emerged his support to DOGE after posting a tweet mentioning that Tesla will work on accepting Dogecoin on the merchandise.
Tesla merch buyable with Dogecoin
And again, on 24 January, Musk keeps supporting his favorite meme $DOGE and mentioned McDonald's.
I will eat a happy meal on tv if @McDonalds accepts Dogecoin.
And recently, the world-famous YouTuber Jimmy Donaldson MrBeast has tagged Elon Musk that he will accept Dogecoin with his restaurant.
@elonmusk if you retweet this we will work on accepting Dogecoin
When the matter mentions cryptocurrencies, Elon Musk is a vocal commentator on social media. His tweets have frequently moved prices, both up and down. Plus, he has generally been a supporter of DOGE. Actually, it looks like he owns this meme to give too much support and knock McDonald's to accept the electronic coin on the business.
Not far away, Shiba Inu was accepted by New York-based Jewelry Collection through BitPay. Plus, it will be expected to list on Robinhood by February this year. Also, SHIB has many lovers who use to create Campaigns and Hashtags to burn more Shiba Inu coins. According to Benzinga.com, there are more than 410 trillion SHIB tokens have been burned this January. Therefore, Shiba Inu's price is still on the dip the way will persuade a lot of investors and holders to buy more tokens and do the holding.
And in addition, the president of El Salvador '' Nayib Bukele'' was tweeted late Friday that the Bitcoin legalize in his country took the dip opportunity and bought about $15 million of BTC.
El Salvador just bought the dip!
150 coins at an average USD price of $48,670
El Salvador was the first country to use Bitcoin as legal tender 4 months ago, alongside the US Dollar.
According to the Coin Market Cap, Dogecoin stepped on the 10# rank surpassing Polkadot with a market cap of more than $18 billion, while Shiba Inu coin is 15# ranked with a market cap of more than $11 billion.
Seemingly, both SHIB and DOGE are expecting to be top 10 ranked and prices exploding. It had been mentioned that Dogecoin was created to be a juke, while currently, it has been a great competitor to many cryptocurrencies and takes intention by many investors and holders. On the other hand, Shiba Inu made a big surprise by taking the market by storm after jumping from $0.0000000001 to $0.00008 last year.
Conclusion
Dogecoin has been accepted by Tesla and is likely to be accepted by McDonald's and MrBeast Burger. This event matches Shiba Inu after being accepted by Robinhood and the New York-based Jewelry Collection. And if that certainly happens, Dogecoin possibly tends to be handled in the market by many famous companies. Plus to Shiba Inu and Bitcoin.
All in all, many people prefer to be cryptocurrencies traders and holders due to making money. As a result, both DOGE and SHIB may possibly explode again this year. Therefore, get ready to buy and hold your favorite digital coins and make them a future treasure.
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