The price of Dogecoin has been in a narrow range on weekends and Mondays. It has been fluctuating between US$0.36 and US$0.37 most of the time. Cryptocurrency investors have high hopes for Elon Musk. They hope that social media activities will trigger a buying frenzy. Still, it seems that they have adopted Bitcoin to turn the market green.
“We love you Elon” campaign on Twitter
The “We love you Elon” hashtag is viral on Twitter, with more than 67,000 tweets since Sunday night. Dogecoin Bull and YouTuber Matt Wallace initiated the campaign to express gratitude to the CEO of Tesla. He started this campaign because Musk is the “father of Doge,” as the crypto community calls it. Although it has not translated into market gains, it has been covered by the Bitcoin bull market.
Last weekend, DOGE prices remained stagnant in most of the broader cryptocurrency market. However, after hovering between the positive and negative areas on Monday, Dogecoin finally turned green. It seems to be related to the rising wave of Bitcoin, pushing all the top 10 cryptocurrency ships.
The US company MicroStrategy has proposed a private placement of US$400 million in senior secured notes to purchase more bitcoins. Saylor is known for buying Bitcoin on dips. The company now has more than 92,000 BTC in reserves, and it’s still growing.
At the same time, the “We Love You Elon” campaign eventually became a leading label in some countries. It ranks in the top five in the United States. Dogecoin prices usually do not increase. The sixth-largest cryptocurrency is increasingly becoming part of the crypto conversation and is often compared to its larger counterpart, Bitcoin. Whether there is a potential flip is another matter.
Dogecoin’s latest developments
In the latest events, Dogecoin went live on Coinbase Pro last Thursday. In addition, Coinbase is holding a giveaway event, which is giving away 1.2 million USD worth of Dogecoin to celebrate the listing.
To qualify for the giveaway, you must opt-in and then buy/sell $100 in DOGE on Coinbase. The deadline is June 10, 2021. Also, take into account that each person is limited to one time.
According to Coinbase, one winner will receive $300,000, 10 winners will receive $30,000, and 6,000 winners will receive $100—all from Dogecoin.