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How DOGE Could Bring Doom To Crypto Rally

After an impressive overnight rally, Dogecoin (DOGE) crossed the $0.50 and smashed every resistance towards new all-time highs. The so-called meme cryptocurrency has surpassed the market cap of giant corporations in traditional finance, some have begun to question the existence of “the people’s Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin destroys trust in the entire ecosystem. The higher it goes the more concerned I am about it all falling apart.

In the other corner is Tyler Winklevoss, founder of Gemini exchange. He claims Dogecoin’s money supply is more transparent, “hard” and predictable than the U.S. dollar.

However, Chief Financial Officer for the Oslo Freedom Forum and the Human Rights Foundation, Alex Gladstein, has highlighted some of Dogecoin’s flaws. Gladstein pointed towards the cryptocurrency centralized supply, over 80% of Dogecoin is controlled by the top 100 addresses. Gladstein said:

Remember: Dogecoin has had several insane pumps like this before, only to later fall in value by 90%+. In sum: Please do not listen to anyone who says Dogecoin is better than, no different than, or even remotely similar to Bitcoin.

Others, like trader Pentoshi, are much more optimistic:

It’s 2023. The $doge money will flow into the rest of the market you tell yourself again. Dogecoin is now trading at $589. It’s the worlds only payment method after the collapse of the dollar.

DOGE-Day, Elon Musk To Present The Dogefather

The Shiba Inu Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin has a price target of $1 for D-Day.

Dogecoin with important gains in the daily chart. Source: DOGEUSDT

Originally published on News BTC