The famous billionaire Elon Musk is renowned in the crypto industry for his continued support for the DOGE coin. 

Many other memecoins based on the Shiba Inu dog theme have hit the market. Although yet to be profitable, they have shaped strong communities, which makes them popular. 

One of the most popular memecoins in the crypto market is Elon coin, also known as [Dogelon Mars](https://dogelonmars.com/). If you recently came across the Elon coin because of its hype, you might want to know what it is and why it is gaining popularity among crypto communities. To help you with that, here's everything you need to know about Dogelon Mars.  

## What is Elon coin (Dogelon Mars)? 

Dogelon Mars is a relatively new addition to the meme tokens genre that launched in 2021. Like most memecoins, including DOGE, SHIB, or [FLOKI](/news/article/what-is-floki-inu), the project is inspired by the [Shiba Inu ](/news/article/akita-inu-coin)theme. It also uses Elon Musk's influence on the crypto market to attract investors. 

The project is based on a comic story about the recolonisation of Mars. It revolves around the journey of baby Dogelon and his friends, who are fighting against the Annihilators of the galaxy. The entire story behind the project is available in the form of [NFT comics](/news/article/nft-comics-2142-ad) that you can also collect through [OpenSea](https://opensea.io/assets/ethereum/0xea9707d71ed5c3bd0af871711cb3b597ef1ab043/10003). 
The crypto itself does not have a particular role in the project. You can only buy it for investment or trading purposes. Surprisingly, even after two years of the coin’s launch, it has no whitepaper. So, no source clarifies the purpose or the mechanism of this crypto.  

## What is Elon coin worth? 

As of 20 September, 2023, one Elon token was changing hands at only $0.000000135, down by 0.58%. In the brief history of the token, it hit its highest price of $0.00003263 in July 2021. But since then, it has dropped by more than 99%. Meanwhile, the market cap for Dogelons is $73.75 million, and the past 24-hour volume is $2.2 million.  

As per [CoinMarketCap](https://coinmarketcap.com/currencies/dogelon/)’s data, the total supply of the Dogelons is one quadrillion, of which 549.65 trillion are in circulation.  

## Why has the Elon coin become so popular? 

Even though Elon’s value is not as impressive as one would like, it has become a famous meme token. Here are some of the main reasons behind it. 

### 1.   The token’s name is inspired by Elon Musk 

One of the prominent reasons investors hyped it is its name, which establishes its affiliation with Elon Musk. Although the project is not directly related to the billionaire entrepreneur, it leverages his influence on the crypto market. If you are familiar with the crypto market, you would know how Musk's single tweet can spur a price action. Therefore, the project creators have wisely chosen a name that boosts its popularity.  

### 2.           Shiba Inu-themed branding 

Another major part of the project's branding is the Shiba Inu. This theme is behind the popularity of most of the meme tokens as it refers to the dog/Cheems memes. It was first used for DOGE, which set a precedent for other meme tokens. 

This is why Dogelon Mars also used it to attract larger audiences. Moreover, the project has used this theme in a unique way, which is by introducing comic strips as NFTs. It has become one of the reasons behind the popularity of the coin.  

### 3.           Low priced coin 

The low price of a coin may not be a sign of a good investment for many. But for others, it's about affordability and fun. Many retail investors who are into buying memecoins consider Elon as an affordable option. They can easily buy Elons in large amounts, hoping their value may increase in the future. 

### 4.           A strong community 

Dogelon Mars has a strong community that believes in its potential. The project is present on platforms like [X](https://twitter.com/dogelonmars) (formerly Twitter) and [Telegram](https://t.me/dogelonmars). On X, it has more than 445.2K followers; on Telegram, there is a community of around 44,345 members. It suggests that people are keenly interested in the project and are confident about its growth. 

## Is Elon coin a good investment? 

Undoubtedly, the Dogelon Mars project has become a highly admired memecoin project. But still, there might be better options for your investments. 

This is for two reasons. Firstly, more information about the project's founders or its purpose is required to be sure about the project's developments. Secondly, the coins do not serve a particular role in the ecosystem, which suggests that their price is unlikely to grow. 

The total supply of the token is also huge, which further leaves questions about the coin's price in the future. For these reasons, avoiding any kind of investment in such projects is better. 

Elon Coin logo - Shiba Inu cartoon in a suit. 

What is Elon Coin, and why is it popular? 

Dogecoin [Twitter](/news/article/twitter-elon-musk-acquisition) yields millions of results across all search engine platforms. While the [Shiba Inu-inspired](/news/article/akita-inu-coin) digital asset is a cryptocurrency and Twitter remains one of the most patronized social media networks, the paths of technologies continue to cross largely due to their association with [Tesla Mogul](/news/article/bill-gates-elon-musk-warning) and SpaceX Chief Executive Officer (CEO) Elon Musk. 

The billionaire businessman dumped Bitcoin (BTC) in 2021 and accepted [DOGE ](https://www.tesla.com/support/dogecoin#:~:text=To%20purchase%20using%20Dogecoin%20on,software%20that%20supports%20Dogecoin%20transfers.)for payments on the Tesla Shop.  

Having supported the cryptocurrency over the past three years, leading to more than 10,000% returns in the portfolios of DOGE holders, many analysts are asking whether the memecoin started by Jackson Palmer and Billy Markus could become the primary transactional currency for activities on Twitter. Is Dogecoin Twitter on the way? 

## Dogecoin Twitter: DOGE processes more transactions than most POW coins  

Dogecoin was forked out of Charlie Lee's Litecoin (LTC) – the second cryptocurrency to hit the decentralized finance (DeFi) economy in 2011. Instead of relying on Bitcoin's algorithm, which saw the first blockchain process less than [30 transactions per second](https://cointelegraph.com/learn/dogecoin-vs-bitcoin-key-differences#:~:text=The%20Dogecoin%20confirmation%20times%20lead,less%20volatile%20than%20Bitcoin's%20price.), DOGE tapped into the SCRYPT algorithm, which confirms transactions quickly. 

Additionally, SCRYPT also helps generate several DOGE, handles many transactions, and takes a short period in mining blocks in the network.  

This is why its blockchain processes more than 30 transactions per second and thousands of transactions daily. 

As of 10:00 UTC on 18 April, DOGE was involved in approximately 21,000 transactions in the previous 24 hours. Its ability to process more transactions corresponded with a relatively lesser transaction fee of $0.3131 (below $1), data from [CoinDesk](https://www.coindesk.com/price/dogecoin/) showed.  

Around 300,000 individuals and business organizations had a blue tick on Twitter before the announcement of the subscriptions came through after Elon Musk's takeover. 

While businesses are being given gold tickers instead of blue, with the latter reserved for individuals, certain organizations such as [New York Times](https://www.reuters.com/business/media-telecom/new-york-times-says-it-wont-pay-twitter-verified-check-marks-2023-04-02/#:~:text=April%202%20(Reuters)%20-%20The,on%20the%20social%20media%20platform.) and [the Washington Post ](https://edition.cnn.com/2023/03/30/media/news-organizations-elon-musk-twitter-checkmark/index.html#:~:text=The%20Washington%20Post%20said%20it,longer%20represent%20authority%20and%20expertise.%E2%80%9D)have disclosed that they would not be forking out money for the subscription service.  

Despite this, many organizations have subscribed to the service, and so have certain individuals.  

Should the 300,000 ticker holders stand, or if the number increases, by being able to process around 20,000 transactions daily, if DOGE was to be adopted by Twitter as its primary payment method, it could settle all transactions within 15 days. That's one reason why Dogecoin Twitter could happen. 

## Dogecoin Twitter: Will DOGE be adopted?  

Dogecoin was initially unknown as a mainstream cryptocurrency because it was seen as a joke digital asset that poked fun at Satoshi Nakamoto, an unknown individual who tried to challenge the centralized finance status quo. 

Despite its joke beginning, the influence of Elon Musk continues to reflect positively on the fortunes of the digital currency. The current owner of Twitter continues to tease the idea of a possible adoption due to certain activities on the platform in April. 

To the surprise of many users and crypto lovers, Twitter [changed its logo ](https://www.cnbc.com/2023/04/03/dogecoin-jumps-over-30percent-after-twitter-changes-logo-to-doges-symbol.html)to Dogecoin for a brief period on 3 April. DOGE [opened the day at $0.07909](https://coinmarketcap.com/currencies/dogecoin/historical-data/) and, on the back of the feature upgrade, soared by 30% to a yearly high price of $0.1026. While DOGE fell to an intraday low price of $0.07663 and eventually closed the day at a much-improved price of $0.09608, many market enthusiasts felt the enormous influence of Twitter’s decision on the market value of the meme-inspired coin.  

In the process, investor interest also reached a yearly peak of roughly $3.5 billion. This took the project's market capitalization to around $13.3 billion, data from crypto price tracker CoinMarketCap showed.  

Before becoming the owner of Twitter, Elon Musk [tweeted](https://twitter.com/elonmusk/status/1485953263040188416?lang=en) in January 2022 that he would consume a meal on television if the American multinational fast food chain McDonald's accepted Dogecoin as a payment method. 

Although the whispers of adoption continue to be on the horizon, this is not the first time Elon has supported a cryptocurrency.  

Many Dogecoin holders think the cryptocurrency they continue to hold could see mainstream adoption soon. [An Elon Musk-owned company](/news/article/spend-elon-musk-money) once adopted Bitcoin (BTC) as a payment method in March 2021. This sent the largest digital asset by market capitalization to a then all-time high. Three months later, in May 2021, Tesla announced a discontinuation of the service. This began a five-month bearish cycle that crippled the blockchain-powered economy.  

## Conclusion 

Dogecoin Twitter could happen in the future, but DOGE holders should consider other price drivers as the crypto market is not one way but bullish and bearish. 

doge dogs and elon musk on image of Twitter app

Dogecoin Twitter: DOGE the New Payment Method?

[Doge Dash](https://www.hello.one/arcade/dogedash) is an ecosystem that combines both [play-to-earn](/news/article/free-play-to-earn-games) gaming and non-fungible tokens (NFTs). It is built on the Binance Smart Chain (BSC) and allows users to earn rewards through gameplay.

The ecosystem features various games, NFTs, merchandise, and staking options, using a familiar arcade style to attract a wide audience to the cryptocurrency world. The game includes ten levels with increasing difficulty to reach a doghouse in a world filled with obstacles and enemies.

Upon completion of the game, players receive coins in their cryptocurrency wallet, which can be traded immediately.

Additionally, players can choose from a list of NFTs as skins for the game, providing unique superpowers and access to exclusive events. DOGEDASH is the native currency and utility token of the ecosystem, which can be used to purchase lives or earned as rewards.

DOGEDASH has a cap of 100 billion tokens, which is significantly more than the number of tokens in circulation during the game's early stages. This means there is currently an abundance of supply, but that's not all.

It is designed to be a deflationary token, meaning that a portion of the tokens are removed from circulation and burned. Specifically, 3% of DOGEDASH tokens used for bets, NFTs, and merchandise are eliminated this way. Over time, as the supply of DOGEDASH decreases, it will become more scarce and valuable, making it an even more attractive investment opportunity.

The ecosystem also charges a 5% transaction tax, with 3% of the tokens removed from circulation to boost the value of the remaining tokens and the remaining 2% used for marketing and increasing brand awareness.

## What makes Doge Dash unique?

Doge Dash is a unique combination of a video game and the DOGEDASH cryptocurrency token. It can be played online or as an app and features a side-scrolling gameplay style similar to the Super Mario Run game. Players control a cartoon [Doge](/news/article/dogecoin-bridge-explained) character, and the game includes elements such as jumps and obstacles. Additionally, Doge Dash also has a variety of NFTs, which can be used in the game and provide unique powers and access to exclusive events.

One of the critical features of Doge Dash is that it has a small fee of 100 DOGEDASH tokens for each play. The game also has ten levels and distributes 10,000 tokens throughout the game. Upon completion of the game, players receive all the crypto tokens they have collected. However, the game is known to be challenging to finish.

As part of a recent rebrand, Doge Dash has become a part of the HELLO ecosystem. This allows token holders to swap their DOGEDASH tokens for the new HELLO tokens at an equal value.

HELLO aims to be a leading player in the crypto and entertainment industry and has several new projects in the works, such as a new version of Doge Dash called Dash of the Dead and a show called Crypto Cribs.

## What is the future of Doge Dash?

The future of Doge Dash is closely tied to the overall performance of the cryptocurrency market. According to [Priceprediction.net](https://priceprediction.net/en/price-prediction/doge-dash), Doge Dash has an outstanding potential to reach new heights. Its forecasts suggest that the token can hit the price of $0.006 by 2030.

When investing in DOGEDASH, it's crucial to have a clear strategy and evaluate your risk tolerance and financial situation. The token may not be suitable for those with lower risk tolerance, but it can be a worthwhile investment for those who are comfortable with higher levels of risk and have a stable financial position.

Additionally, DOGEDASH offers the potential for speculative gains and provides exposure to a constantly evolving technology and expanding ecosystem.


dogedash logo over picture of gaming setup

DOGEDASH and Doge Dash: The Crypto and the Game

Dogelon Mars is back in the news. With a current market capitalization of $183.38 million and a circulating supply of 549,040 billion tokens, [Dogelon Mars](https://twitter.com/dogelonmars?lang=en) is ranked number 152 in the list of cryptos by market cap. It is one of the Dogecoin-themed meme coins.

Dogecoin received some promotion from Elon Musk via a series of tweets in December 2019, leading it to become one of the most sought-after altcoins that produced a massive price appreciation.

Subsequently, various altcoins were created, either bearing semblance to the symbol of Dogecoin (such as Shiba Inu, the name of the dog features as Dogecoin's logo), or by having some labelling with Elon Musk's name. These meme coins found success for a while, but the crypto market downturn has erased the meme effect and left the coins to find their feet on their own value.

## Dogelon: the story so far

In April 2022, a petition was started on Change.org urging Binance to list Dogelon Mars on its exchange. At that time, it was approaching a $1 billion market cap and seeking 25,000 signatures. In October 2022, rumours of a potential listing by Binance surfaced, and the token shot up 4,194%. However, this listing did not materialise. In the following months, Dogelon Mars gave up all these gains. This is not the first time rumours of a Binance listing have dogged the token. Some of these rumours date back to 2019, but have never resulted in anything substantial.

The gains seen in the ELON token this January are not linked to any listing rumours. They have come as the entire market witnessed a slight push to the upside. The recent market gains result from a shift towards risky assets after data from the US indicated a cooling of consumer inflation. The drop in the US Consumer Price Index has led to bets that the Federal Reserve would force down the size of future rate hikes, with 25 basis points being the preferred number.

This is exerting a downward pull on Tether (USDT) and other USD-pegged stablecoins, allowing tokens like ELON to enjoy a level of price appreciation. While the 19% gains seen this January is a far cry from some of its earlier improvements, the Dogelon Mars community seems excited by what they perceive as a renewed push by the meme coin to get back some of its old shine. The fact that 18,448 people have signed the Change.org petition as of writing is a testament that there are still those who want to pressure Binance to list the ELON token.

The push to get listed on Binance came when there was no clear-cut information about its tokenomics and what value the project would add to the crypto ecosystem. At the time, it seemed that everything that Binance touched turned to gold. 

Even tokens that were floundering on other exchanges got a shot in the arm that turned them into a speculator's delight. It was clear then that the promoters of the Dogelon Mars petition were out to cash out big from every token that had some kind of association with Elon Musk or Dogecoin, either by name or otherwise. That attempt may have worked in October 2022, but it is clear that it has failed miserably in the long run.

The deepening winter in the crypto market and the fallout of the collapse of FTX, Celsius, AAX, and several crypto exchanges and lending platforms means it will be harder for tokens to command appreciation from just a mention of a purported Binance listing.

## Dogelon Mars: What does the future hold?

If Dogelon Mars is to rise from the ashes, the team behind the token has to return to the drawing board and think out a strategy to shift this coin from being just another meme coin to something of real value to the ecosystem.

They need not look too far. [Shiba Inu](/news/article/shiba-inu-news-will-it-rise) was the first meme coin patterned after Dogecoin. It rode the speculation train for a while until the team decided to reconfigure the project to extract value for both project owners and token holders. The SHIB project now boasts a robust ecosystem of its own, featuring three tokens (BONE, Shiba Inu and Leash) and the Shibarium Layer 2 protocol. A launch into the Metaverse is scheduled for 2023. The recent resurgence of the Shiba Inu and BONE tokens is not accidental. The Dogelon Mars team needs to follow a similar pathway to make the ELON token a thing of value. The meme effect is not going to cut it going forward.

## Conclusion

The current price action on Dogelon's pairing with Tether (the most traded pair of this asset) indicates the brief upside move that has taken it from the low of November/December 2022 to its current levels appears to have stalled. This situation is in keeping with the current expectations.

The 19% move higher was only a drag effect exerted by Bitcoin on the entire market. For Dogelon Mars to witness any real price recovery to its previous highs, there has to be a concerted effort by its developers to create value from the ecosystem. 

Otherwise, the ELON token may fall by the wayside even before the market takes a turn for the better.

There is still time for the developers behind Dogelon to make the necessary changes. Shiba Inu is a classic example of how value addition can make all the difference in a token's valuation.


Is Dogelon Mars a Buy After the Recent Upside?

[Baby Doge Coin](https://babydoge.com/), released in June 2021, is constructed on the Binance smart chain, with exceptionally fast 5-second block times and lower gas prices than Ethereum. Lets look at how it works and the mining process.

Binance Smart Chain (BSC) produces solidity-based smart contracts at a significantly faster and more efficient rate than other competing chains. BSC is one of the most extensively utilised blockchains for Decentralised Finance, with decentralised exchanges offering lightning-fast swaps and incredibly minimal fees.

The coin is hyper-deflationary with the static reflection that rewards holders, so additional coins add to your wallet with each transaction.

## Aim of Baby Doge

Baby Doge Coin was one of the first meme coins to launch with a live decentralised swap straight on its website.

It is also one of the first meme currencies to accept [credit card](https://cdn.shopify.com/s/files/1/0388/4833/1916/files/1228474_WhitePaperInfo_022822.pdf?v=1653089326) payments for crypto on its website. The Paw Wallet helps users to keep track of their rewards from reflections, wallet balance, currency worth, and other information.

The NFT marketplace is its most ambitious initiative. It will let users make and buy/auction their own NFTs and give a percentage to help preserve dogs. Finally, there is a product store where holders can proudly support their favourite meme in real life, with earnings benefiting the cause and assisting other dogs in need.

## Value of Baby Doge

### Transparency

Baby [Doge](/news/article/elon-musk-twitter-dogecoin) is decentralised and supported by its user community. They value open communication and feel trust, openness, and community are the three cornerstones of long-term success.

### Community

Baby Doge is one of the most rapidly developing and well-liked crypto communities, and they think they are only as powerful as they work together. [Community](/news/article/music-nfts-fans-community) is vital to them, and they seek to involve people from all around the world. We offer dedicated telegram channels for our foreign communities.

### Trust

Trust is essential in the crypto industry, which entails complete openness in the community, development activities, and security efforts. A third-party dessert finance firm has audited it, and the bulk of the LP tokens have been burnt and locked. There are no rug pulls here, only adorable baby doges.

### Longevity 

Baby Doge is committed to the long haul. To drive practical use cases, the decentralised community fosters and adopts long-term growth of the ecosystem and foundation.

### Baby Doge Coin ecosystem 

Baby Doge is decentralised and is controlled by its lively community. It encourages and supports varied viewpoints to establish the finest crypto community possible with the noble goal of saving dogs in distress.

Tokens of Initial Liquidity are burnt and locked. Existing holders receive a 5% fee for each transaction in their network. That implies you make more money by keeping it in your wallet. Furthermore, 5% of all transaction costs are for liquidity.

The coin has three simple functions: reflection, LP acquisition, and burn. Each transaction has a 10% fee, split two ways. 

•	A 5% charge applies to all existing holders. 

•	The 5% fee is divided 50/50, with the contract selling half of it into BNB. The other half is paired with the previously stated BNB and placed as a liquidity pair on Pancake Swap.

•	So far, 30%+ of the overall supply consumption means that every transaction burns 30%+ of the 5% redistributions.

## What is Baby Doge mining?

•	When [users](https://minebabydoge.com/) use this code x7dk-vmmj as their sponsor's referral ID, they will receive a 25% charge decrease (0.75% cost down from 1%) for Baby Doge mining

•	Users may choose between Windows and Mac [downloads here](https://unmineable.com/miner) and follow the instructions if they wish to participate in Baby Doge mining.

•	As Baby Doge mining grows more popular, more companies will begin accepting the coin and rewarding users for watching advertisements or performing little tasks online.

Find two sites that many users utilise to earn rewards below.

1) Clear Traffic 4U - Users receive one Baby Doge Coin for each eight-second advert they see. More information is available in the [members'](https://cleartraffic4u.com/r/bdr) area.

2) Orbital Traffic - For every eight-second advertisement viewed, users receive one Baby Doge Coin. More information is available in the members' area.


baby doge logo with pile of green crypto coins and shibe inu puppy in foreground

Baby Doge Mining Revealed

Dogechain bridge allows holders of $DOGE coin to gain more utility for their coins beyond transactions.

This year has been a rollercoaster for crypto lovers. From [TerraLuna's collapse](/news/article/terra-luna-collapse) to [FTX's bankruptcy](/news/article/ftx-collapse-blockfi-suspend-withdrawals), many events shaping the crypto market have occurred this year. They have led crypto holders through many emotions, including fear, anxiety, worry, relief, and devastation.

Amid all this chaos, Dogechain was launched in September.

## What is Dogechain?

First, I'd tell you what it isn't. Dogechain isn't an offshoot of Dogecoin, regardless of how similar they sound and how intertwined they are.

There are many technical and somewhat unclear definitions of Dogechain out there. The simple explanation is that Dogechain is a Proof-of-Stake blockchain built on the Polygon network to improve and increase DeFi access for Dogecoin users.

Dogechain was built to improve Dogecoin and create new avenues where it can be used to access the wider world of DeFi. Polygon Edge, the network on which the Dogechain is built, supports the building of EVM-compatible (Ethereum virtual machine) blockchains that allow the creation of decentralized applications, tokens, and the minting of NFTs.

This opens considerable possibilities for Dogecoin holders, who can now gain more utility beyond simple transactions from $DOGE. But how will that work when $DOGE cannot be used on Dogechain?

## How does Dogechain bridge work?

To combat the compatibility problem between $DOGE and Dogechain, the founders of Dogechain created the Dogechain bridge.

The idea of a bridge in cryptocurrency isn't new. Dogechain bridge was built on that concept to find a way for Dogecoin users to port and use their $DOGE in the new blockchain.

How the Dogechain bridge works is that when you send $DOGE,  a multi-signature smart contract keeps the $DOGE in escrow and then mints its equal in $wDoge. So, if you send 200 $DOGE, you'll get 200$wDOGE which you can then use to [access DeFi, buy NFTs, or use DApps](https://learn.bybit.com/blockchain/what-is-dogechain/).

You should note that Dogechain has a minimum amount of 100 $DOGE you can send over using the Dogechain bridge. Anything less than 100 $DOGE wouldn't fulfil the requirements for the smart contract conversion of $DOGE to $wDOGE.

Beyond the immediate ability to use Dogecoin on an EVM blockchain, this Dogechain bridge almost completely erases the barriers to entering DeFi and NFTs for holders of the famous memecoin.

It also means more development and growth for Dogechain. Developers can build DApps, Metaverse, GameFi, and digital marketplaces, while Dogecoin owners can interact with Dogecoin on those apps.

## Concerns over Dogechain bridge

The concerns around the bridge converge on one point - security. However, Dogechain says it has this under control. Although they won't be using Polygon's security measures, they are prepared to ensure secure transactions for users.

## Conclusion

Dogechain is just a few months in and has already seen massive interest. As of now, more than 200 million dollars worth of Dogecoin has gone through the bridge. Although this presents as only 2.5% of all the $DOGE in existence, it is still a great start.

As more people explore and benefit from this new ecosystem, more will be excited to join. It's just a matter of time.


green image of techy modern bridge with dogecoin on centre

Dogechain Bridge Explained

In this article, we'll look at the latest Shiba Inu news. Before we do, let's understand what we're talking about. SHIB is a decentralised cryptocurrency founded in 2020 by an anonymous individual Ryoshi.

The SHIB is an Ethereum-based ERC-20 coin designed to compete directly with Dogecoin. The coin does not support smart contracts and has no assets backing it. It can, however, be passed from one user to another.

The latest [Shiba Inu](/news/article/shiba-inu-coin-burn) news reveals that the coin's price could [rise by nearly 150%](https://cointelegraph.com/news/shiba-inu-price-drops-to-record-low-vs-dogecoin-will-history-repeat-with-a-150-rally) compared to its top memecoin rival, Dogecoin, in the coming months, as per technical fractal.

## SHIB sets a new low against DOGE

The bullish setup appears as the SHIB/DOGE pair has recovered slightly after falling to 0.0000841 – its lowest level ever – on 1 November. Since November 2021, the price level has coincided with a descending trendline that has supported the pair.

For example, Shiba Inu's previous drop to the trendline occurred in May 2022, followed by a 100% recovery rally in the following three months. Similarly, the SHIB/DOGE pair recovered by more than 50% in less than a month in January 2022.

Interestingly for followers of Shiba Inu news, all of the SHIB/DOGE's rebound moves had their primary upside targets in the 0.0002186-0.0002536 range.

![Picture1 shib.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture1_shib_50fd8b246a.png)
 
If history repeats itself, SHIB could see a sharp bullish reversal versus DOGE, with the upside target in the 0.0002186-0.0002536 range. In other words, a 150% price increase by Q1 2023.

Furthermore, the pair's daily relative strength index (RSI) indicates extreme oversold conditions after falling to its lowest levels in history, implying that a rebound is imminent.

## SHIB price in the USD pair faces greater losses

More hints about an impending SHIB/DOGE pair rally can be found in how these [memecoins](/news/article/memecoins-whats-popular) have performed against the US dollar.

Notably, the [Dogecoin](/news/article/dogecoin-to-gbp) price increased by more than 100% in relation to the dollar in October as traders anticipated its potential integration into Twitter after [Elon Musk](/news/article/elon-musk-twitter-deal) completed his buyout of the social media giant.

Late in October, as a result, DOGE's daily RSI crossed over 95, making it the most overbought since April 2021. As of 3 November, the coin's technical condition was still overbought, suggesting that a price correction could occur soon.

To put it another way, by the end of 2022, [Dogecoin](/news/article/should-i-buy-dogecoin) could decline towards $0.055, or 60%, from current price levels.

On the other hand, Shiba Inu posted a 10.5% profit at the end of October, and, as of right now, its RSI is in the neutral 30-70 range, indicating less sell-side pressure than DOGE.

Based on recent fluctuations inside an ascending triangle range, a 10%–15% short-term price correction to $0.00001088 is still possible for the SHIB/USDT pair.

![Picture2 shib.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture2_shib_cca9687281.png)
 
However, a break below $0.00001088 raises the possibility of an ascending triangle breakdown.

When such breakdowns occur during a downtrend, the price is frequently driven to its maximum height.
In the event of a clear breakdown, Shiba Inu's price could plunge to $0.00000682, a 45% correction by Q1.



green image of altcoins and shiba inu dogs in foreground

Shiba Inu News: Will it Rise to 150%?

Top performing crypto tokens between 21 November and 28 November included Huobi Token (HT), Celo (CELO), Curve DAO (CRV), Dogecoin (DOGE), and ApeCoin (APE).

Numerous events happened during the week. Moni Talks covered topics such as United Kingdom-based [Starling Bank ](/news/article/starling-bank-bans-crypto)cutting its customers' accounts off from centralised cryptocurrency exchanges due to the volatility of the market and crypto wallet [MetaMask](/news/article/metamask-news-collect-ips) making plans to collect user internet protocol (IP) addresses.

In addition, Magic Eden, one of the most patronised non-fungible token (NFT) marketplaces, announced that it had expanded support for Polygon-based NFTs. Polygon is one of the largest NFT blockchains by all-time sales volume, with approximately [$409 million](https://cryptoslam.io/), as of 28 November.

So, let’s take a look at last week’s top performing crypto. 

## Analysis of top performing crypto last week

•	[Huobi Token (HT) ](https://coinmarketcap.com/currencies/huobi-token/historical-data/)increased by more than 60%. HT is the novel token of the Huobi crypto exchange. Much of the token's value spike occurred due to the rebranding of the pioneer cryptocurrency exchange Huobi Global into just Huobi during the week. As part of the rebranding process, Huobi, as a major crypto trading platform, is projected to become one of the top three exchanges across the sector. 

The rebranding led to an increment in trading volume from the smallest value of $14.77 million to the highest value of $27.46 million within the week. The token opened the week strongly at $4.32 on 21 November and reached a weekly low of $4.24 on the same day. HT spiked in price to a weekly high of $7.32 and was trading for $7.12 in the late hours of 27 November. There was a 64% increase in HT price during the last full week of November.

![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_1_79b313f394.png)
 
•	Celo [(CELO) ](https://coinmarketcap.com/currencies/celo/)was up by more than 50%. CELO is the Celo ecosystem native asset, which aims to increase cryptocurrency adoption among smartphone users. During the week, it was reported by major news outlets that Celo has [partnered ](https://www.coindesk.com/tech/2022/11/21/mobile-focused-blockchain-celo-partners-with-ethereum-software-firm-consensys/)with ConsenSys, an Ethereum software company that played an integral role in the Merge (the transitioning of Ethereum from a Proof-of-Work to a Proof-of-Stake network). 

Overall, this partnership will help Celo developers to tap into the technological solution of ConsenSys, which will improve its scalability. Within the week, CELO's trading volume moved from the lowest daily value of $7 million to the highest value of $210 million. On 21 November, CELO opened with a trading price of $0.4329, climbed to a weekly high of $0.714 on 26 November, and saw a decline to a weekly low of $0.4178. It was trading for $0.6737 during the late hours of 27 November CELO gained 55% within the period.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_2_f0823dd454.png)

•	Curve DAO [(CRV)](https://coinmarketcap.com/currencies/curve-dao-token/) spiked by more than 30%. CRV, like other digital assets housed in the ecosystems of the decentralized application (Dapp), is the novel token for Curve, a stablecoin-based decentralised exchange that relies on an automated market maker (AMM) to oversee liquidity. Curve generated [$3.75 billion](https://dune.com/hagaetc/dex-metrics) as trading volume throughout October. Due to the ongoing FTX bankruptcy case, which has led to the halting of digital asset withdrawals on some platforms, there has been a marked increase in stablecoin use. Since Curve is mainly tailored to stablecoin trading, many investors turned to CRV during the week. CRV's daily trading volume ascended from $58 million to $970 million.

CRV opened on 21 November with a relatively lower trading price of $0.5119. The DeFi token reached a weekly low of $0.4096 on 22 November and increased to a weekly high of $0.7538 on 26 November. In the late hours of 27 November, CRV was exchanging hands for $0.7044 on many crypto trading platforms. CRV spiked by 37% within the period.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_3_e64bab2b45.png)

•	Dogecoin [(DOGE)](https://coinmarketcap.com/currencies/dogecoin/) brought more than 30% gains to holders. DOGE is the native asset of the meme-inspired project by Jackson Palmer and Billy Markus, creators who decided to poke fun at the idea of Bitcoin (BTC) dethroning the centralised finance system. DOGE has been soaring based on a rumour from David Gokhstein, who [commented via his Twitter account](https://twitter.com/davidgokhshtein/status/1596010692070764544?s=20&t=IyhWVKTyIxmqIxX_Xir8OQ) that there could be developments to the Dogecoin project by Ethereum founder Vitalik Buterin and new Twitter boss and DOGE promoter Elon Musk. 

The demand for DOGE skyrocketed from a minimum daily volume of $360 million to $1.84 billion within seven days. DOGE opened at $0.07718 on 21 November and reached a low of $0.0724 on the same day. The largest meme-inspired digital asset by market capitalization soared to a weekly high of $0.1064 on 27 November and traded for $0.1052 on the back of Asia, as an early mover of the cryptocurrency industry. As of 11:50 UTC on 27 November, DOGE had soared by 36%.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_4_585d8697c1.png)

•	ApeCoin [(APE)](https://coinmarketcap.com/currencies/apecoin-ape/) Rose More than 20%. APE is the novel token of the ApeCoin ecosystem. On 23 November, it was reported that ApeCoin decentralized autonomous organization (DAO) had l[aunched a community-driven non-fungible token (NFT) marketplace.](https://www.coindesk.com/web3/2022/11/23/apecoin-dao-launches-community-driven-nft-marketplace/#:~:text=ApeCoin%20DAO%2C%20a%20community%2Dled,APE%20ecosystem%2C%20launched%20in%20March.) In the crypto finance industry, exchange listing, the launch of new products by a project, the provision of staking services, and the adoption of a coin or token by a mainstream company are the primary drivers of a cryptocurrency's price. 

Leaning on the successes of Bored Ape Yacht Club and Otherdeeds among Yuga Labs' (creators of the projects) products, APE opened at $3.03 on 21 November, reached a low of $2.86 during the week on 22 November, and reached a high of $3.94 on 27 November. As of 11:50 UTC on 27 November, APE had a trading price of $3.83. Like all the aforementioned top-performing crypto tokens, APE also saw a significant rise in daily trading volume from $79 million to $215 million.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_5_37da79bf9d.png)

Other top performing crypto included coins that saw multiple percentage gains during the week, such as Litecoin (LTC), Chainlink (LIN), Dash (DASH), Aptos (APT), Convex Finance (CVX), Binance Coin (BNB), Solana (SOL), Casper (CSPR), Aave (AAVE), Ethereum Classic (ETC), and Theta Network (THETA).






Top performing crypto of the last week

There is trending speculation of a rumoured Elon Musk Twitter Dogecoin arrangement. This rumour was spiked by the latest tweet about Twitter's new look, which Twitter's new CEO, Elon Musk, called "Twitter 2.0 Plan" - "The everything app".

This has made investors excited about the possibility of the [cryptocurrency DOGE](/news/article/elon-musk-twitter-deal) being integrated into Twitter. 
This recent disclosure, in a tweet yesterday, by Musk - who shared lots of slides on "Twitter company Talk" albeit without any mention of Dogecoin - saw the DOGE price surge to 19.4% from $0.089 to $0.107 before cooling off to $0.096, [as reported by CoinDesk](https://www.coingecko.com/en/coins/dogecoin).

![Picture2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture2_1cf9f20662.png)
 
However, [according to Coinbase, the price of Dogecoin, which has been on the rise by 26.75%](https://www.coinbase.com/price/dogecoin) in the past seven days, declined by 0.72% in the last 24 hours. In the past hour, the value increased by 1.83%. The current price is $0.096255 per DOGE. Dogecoin is 86.99% below the all-time high of $0.74.

You will recall that on 16 May, Musk tweeted a mock-up of what he called "Twitter 2.0" that included a Dogecoin tip button. The tweet sent Dogecoin's price soaring by nearly 30% in just a few hours. Musk, now Twitter's biggest shareholder, has been a long-time supporter of Dogecoin, [often tweeting about the cryptocurrency and even calling it his "favorite" coin](https://www.google.com/amp/s/www.coindesk.com/markets/2019/04/02/elon-musk-calls-dogecoin-my-fav-cryptocurrency/%3foutputType=amp). 

## Elon Musk Twitter Dogecoin Rumours

In another tweet, world-renowned golfer, Matt Wallace, said, with a hashtag:

"#Dogecoin Acceptance for Twitter Blue Would Be Awesome."

This tweet further deepened speculation on the future of a Twitter Dogecoin payment integration arrangement.
 
![Picture1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture1_1ed3d1e487.png)

If Twitter were to integrate Dogecoin into its platform, it would give the cryptocurrency a major boost in exposure and could lead to more mainstream adoption.

More rumours abound amid speculation that [Twitter may be working on a wallet prototype that supports cryptocurrency deposits and withdrawals](https://cointelegraph.com/news/twitter-will-do-lots-of-dumb-things-in-the-coming-months-elon-musk/amp). That, plus an announcement of [an $8 monthly subscription model](https://cointelegraph.com/news/crypto-fans-should-get-behind-elon-musk-s-subscription-model-for-twitter/amp), led to a 40% surge in price.


Elon Musk Twitter: Dogecoin Spikes Over 

The[ Twitter takeover](/news/article/elon-musk-twitter-deal) by Elon Musk has driven the Dogecoin price higher at various points in the last few weeks. This was because the CEO of Tesla and SpaceX has long been a firm supporter of the coin. Several of his tweets and statements have previously been seen to influence the coin's position. However, revelations made recently about Musk's plans for Twitter have not been favourable to [Dogecoin](/news/article/dogecoin-to-gbp).

## Musk wants Twitter to have new leaders.

Musk [revealed](https://finance.yahoo.com/news/elon-musk-says-expects-reduce-163849041.html) on Wednesday that he expects his time at Twitter to be reduced as he looks for new leadership for the company. He previously fired CEO Parag Agrawal, other top executives, and the entire board of directors. Now, the billionaire intends to hire someone to run the social media company in his place.

Musk revealed this during his testimony in Delaware court in defence of Tesla's $56 billion pay package. He explained that he would stay for the time being because the company needed to be reorganised as a result of the acquisition. He does, however, explain that once Twitter is in a strong position, he will bring in new leadership.

Jack Dorsey, the former CEO and founder of Twitter, had responded negatively to a question about whether he would be open to returning as CEO. Dorsey is already working with BlueSky, a decentralised social media competitor to Twitter.

## Dogecoin Twitter impact

Dogecoin's value has recently been tied to the possibility that Elon Musk will initiate a Dogecoin Twitter integration Initially, making DOGE one of the cryptos used for the "Tip Jar" feature was expected. However, there are now calls for the memecoin to be added as a payment mode for "Twitter Blue".

However, Musk has yet to say anything definitive about a Dogecoin Twitter integration. This is despite the Tesla CEO's continued support for DOGE and promotion of it as the ["people" crypto](/news/article/doge-crypto-elon-musk).

[Dogecoin](/news/article/should-i-buy-dogecoin) (DOGE) has dropped 20.10% to $0.08, following the broader market sell-off and in response to [FTX and Binance's](/news/article/ftx-vs-binance-liquidate-funds) moves.

Investors are concerned that Dogecoin's decline could be a starting point for price destruction. These jitters may end the DOGE bull run in 2022 with a year-end price of $0.06.


What do changes to Twitter mean for Dogecoin?

[Elon Musk’s Twitter](/news/article/elon-musk-twitter) deal has been finalised and he has taken over the company. The news seems to have had a positive influence on Dogecoin ([DOGE](/coins/doge)). The meme coin has continued its bullish market run for a second consecutive day. In July 2022, it made it to our list of "[altcoins to watch](/news/article/altcoins-to-watch-2022)”.

On 10 October, 2022, Dogecoin touched its monthly high of $0.084448. Its price climbed by nearly 17%, with the trading volumes peaking by 196% in the past 24 hours.

Besides, DOGE has also made substantial weekly gains as it soared by 31%. With that, it became the highest performer among the 20 largest cryptocurrencies by market cap. 

However, now its price is down by 5.3%, and it is worth $0.073775, according to [Coingecko](https://www.coingecko.com/en/coins/dogecoin). Nevertheless, over the past two months, Dogecoin’s price hovered around $0.05 to $0.06. Musk closing the deal with Twitter has boosted its position in the market, giving some hope to the Dogecoin investors.

On the other hand, as the DOGE’s value soared, investors [liquidated](/news/article/sell-doge-guide) their futures positions. Data insights from [Coinglass](https://www.coinglass.com/LiquidationData) suggest that around $8.69 million of funds were liquidated in the last 24 hours. 

Apart from that, the overall [crypto market](/news/article/crypto-fear-and-greed-index) has not seen a bullish run. Most cryptocurrencies experienced a flat or negative movement. But the meme coins, DOGE and SHIB, saw a positive price action. Shiba Inu’s value has increased by 7.8%, trading at $0.00001123.

## Elon Musk Twitter deal

Elon Musk’s ‘let that sink in’ move apparently triggered a positive movement for Dogecoin. He took to Twitter to announce his [takeover](/news/article/spend-elon-musk-money) of the company distinctively. 

The CEO of SpaceX and Tesla has been a supporter of [Dogecoin](/news/article/should-i-buy-dogecoin) for a long time. Several of his tweets and statements have been seen to influence the coin’s position in the past too. As he has acquired the company, it is experiencing a bullish movement. Many now accuse Musk of market manipulation whilst others see Musks net worth billionaire status and experience as an entrepreneur for companies like Tesla as a great way to boost awareness and credibility of the cryptocurrency market. 



Elon Musk Twitter deal boosts DOGE by 140%

The developers of Dogecoin started it as a satirical project to mock the crypto market. In 2021, it gained investors’ attention such as Elon Musk, Tesla and SpaceX founder, who became an advocate for DOGE. The coin enjoyed a 200% rise last year. But this brief rise soon ended due to bearish trends in the crypto market.

Since the start of 2022, DOGE’s price has been lingering around $0.07-$0.18 with no signs of recovery. Contrastively, the community is still quite optimistic about its potential rise. In this scenario, one might wonder, “should I buy Dogecoin and is it worthy of investment in 2022?” 

Let’s get some insight into its price to find out whether or not it can add value to your portfolio! 

## Dogecoin’s journey so far

It is the first of the meme coins that entered the crypto market in 2013. It works with the exact consensus mechanism as Bitcoin and Litecoin. However, its developers used PoW to mock similar cryptocurrencies. Last year, it finally started attracting investors due to Elon Musk’s influence. 

![should i buy dogecoin.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/should_i_buy_dogecoin_09d0a4d004.png)
 
This brief period of popularity lasted only till the mid of 2021. Even in late 2021, when most cryptocurrencies reached their all-time high, DOGE’s price remained stuck. So far, the highest mark it has hit is $0.73. Besides, it doesn’t show any signs of a rise currently. 
 
## Is Dogecoin a good investment in 2022?

Should I buy Dogecoin or not? To answer that, you should evaluate its potential as an investment and see why it can be a risky bet. 

## Positives about the coin

One of the positives about this meme coin is its strongly growing community. Endorsements from Mark Cuban and Elon Musk play a significant role in its growth. Moreover, it has introduced a new genre in crypto, meme coins, allowing it to enjoy a unique position in the market. Its scalability and ease of use for transactions also make it a decent option for mass adoption. 

## Why is investing in DOGE risky?

On the other hand, it has its risks. One is the false hype from influencers that makes it highly volatile. DOGE whales can opt out anytime, which can directly affect their price. Also, it’s an inflationary token with extensive supply. Every year, 5 billion tokens enter the market, resulting in a price drop. Moreover, the lack of innovation and developers’ negligence makes it unreliable. 

Find more about selling DOGE in 4 simple steps. 

## Final Verdict: Should I buy Dogecoin?

DOGE’s current price and its ecosystem dynamics suggest that it is not a reliable investment. For long-term investment in DOGE, you must consider your risk tolerance and whether it’s suitable for your portfolio. This article is a generalised opinion and should not be regarded as financial advice.



Should I buy Dogecoin in 2022?

Dogecoin is a cryptocurrency that started as a joke in 2013 and became the highlight of the crypto space in 2021. Last year, DOGE saw a surge of over 200% as [Elon Musk](/news/article/elon-musk-doge), Tesla Founder, started advocating for the token.  

However, today, the [Dogecoin price](https://coinmarketcap.com/currencies/dogecoin/) is stuck around $0.065 only. Its lack of real-world usage and dying hype are some reasons behind its decline. That’s why many investors are opting out and selling their Dogecoins. 

If you are looking to sell DOGE after considering the current market trends, follow this simple stepwise guide!
How to sell Dogecoin?

### The following guide will show you how to sell DOGE in a step-by-step manner:

1.	Find out a crypto exchange to sell DOGE 
Firstly, find a credible crypto exchange through which you can sell your Dogecoins. You can trade this cryptocurrency on numerous exchanges; you should go for popular and credible names like Binance, Kraken, OKX, or Coinbase.

In addition, you should check the trading fees and the withdrawal fees on each. Besides, consider the exchange rates for tokens or fiat currencies.  

2.	Set up your account
Afterwards, set up your account on the exchange so that you can send and sell DOGE through it. It will be a straightforward process, where you will need to provide your email and phone number. Then set up a secure password and verify your details through the verification code provided via email. Finally, agree to terms and conditions and proceed with signing up.

3.	Transfer Dogecoin to your exchange wallet
Once you have set up your account on the exchange, you will be ready to send your Dogecoins to its wallet. You can do that simply by going to the wallet, choosing Dogecoin as your depositing token, and proceeding with the deposit. 

It will open a form where you would need to fill in the details of the amount and from where you want to transfer your Dogecoins. Here copy-paste your wallet address, where you currently hold the coins. Verify the address and insert the amount of transfer. Finally, click on send and wait for the deposit confirmation. 

4.	Finally, sell Doge!
Now, sell DOGE by either selecting a limit or market order. A limit order allows you to exchange Dogecoin at your desired limit, while a market order allows you to sell at the current market price of the coin.  

## Conclusion

Selling Dogecoin is a straightforward procedure that includes selecting a trusted exchange and creating an account there. After that, transfer your Dogecoins to the exchange wallet and finally sell DOGE through either limit order or market order. This guide only simplifies the procedure of selling this digital coin. Therefore, it’s advisable to conduct your research before making financial decisions.  



Sell DOGE in 4 Simple Steps

For the CEO of Tesla, Elon Musk, base layer transactions of the Dogecoin (DOGE) chain are far more superior to Bitcoin and Ethereum’s.

Recently he commented on his support for Dogecoin, saying the token actually has “a much higher transaction volume capability than Bitcoin, and the cost of doing a transaction, the Dogecoin fee, is very low". 

"Right now, if you wanted to do a Bitcoin transaction, the price of doing that transaction is very high. So, you could not use it effectively for most things," he said.

In his latest pubic speech at the Qatar Economic Forum, Musk reiterated his support for DOGE although the meme-based cryptocurrency plunged from an all-time high of $0.76 in 2021 to a price of $0.068 at the time of writing.

Musk is currently facing a[ $258 billion lawsuit over allegations](https://news.monitalks.io/news/article/elon-musk-dogecoin) his companies SpaceX and Tesla are part of a racketeering scheme to back Dogecoin. He explained his love for the currency by saying he met many people who were not rich but who encouraged him to buy the token. “I am responding to those people,” he said.

He also clarified that while Bitcoin and Ethereum “are pursuing a multilayer transaction system”, their base layer transaction rate is slow and transaction cost is high. 

“There is merit to Doge maximizing base layer transaction rate and minimizing transaction cost with exchanges acting as the de facto secondary layer,” [he elaborated](https://twitter.com/elonmusk/status/1413396249546563586).

## Dogecoin more scalable than Bitcoin according to Mr Musk

When talking about the differing monetary policies between Bitcoin and Dogecoin, Musk said that low issuance rate could result in hoarding and discourage spending. 

Bitcoin cuts the issuance rate in half roughly every four years, while Dogecoin has an unchangeable issuance rate.

“It won’t need to reach visa speed, as regulated exchanges will act as de facto second layer. But the perfect should not be the enemy of the good – it is still good to increase base layer transaction speed & lower base layer transaction cost,” Musk concluded.

The thing is straightforward, after all -  Dogecoin is more scalable because of its layer-one protocol that doesn’t need one more network. The term layer-one is used to define the primary blockchain architecture. Layer-2, on the other hand, is a network that appears at the top of the underlying blockchain.

Even though Bitcoin advocates have been slamming Musk's tweets, saying he's making a groundless admonishment of the widely-adopted cryptocurrencies, the cost and speed of the Bitcoin blockchains have actually been problematic in the past. However, recent upgrades have improved both.


Elon Musk's view on base layer functionality

According to Tesla's newest Q2 financial statement, Bitcoin was one of the essential items that impacted the operating income.

As per the official data, the operating income improved year-to-year to $2.5 billion in the second quarter, resulting in a 14.6% operating margin.

"As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency," Tesla's statement said, adding: "Conversions in Q2 added $936M of cash to our balance sheet."

However, during the regular quarterly investor call, the company's CEO, Elon Musk, revealed that even though Tesla holds Dogecoin as well, it didn't convert any of that into fiat.

 "We still have it," Musk claimed.

Just a month before, speaking at the Qatar Economic Forum in Doha, Musk confirmed he supports Dogecoin, reiterating that Tesla accepts the currency as payment for its products. He also announced that his company SpaceX intends to do the same.

Musk says he intends to 'personally support' Dogecoin in response to the many people who are not wealthy and have encouraged him to buy and support DOGE.

## Tesla’s Musk – Bitcoin and Dogecoin advocate

Back before, Musk was [pretty vocal](/news/article/elon-musk-bitcoin) about owning Dogecoin. However, he never confirmed that Tesla or SpaceX have it in their portfolios. It is not known whether the assets left in crypto are remaining Bitcoin or, perhaps, Dogecoin.

If we try to calculate how much Bitcoin Tesla has left, we should look at the sheet where it says the company owned 42,000 Bitcoin heading into the second quarter.

After the company sold 75%, there should be 10,500 at the quarter's end. We can only presume that the snapshot was taken somewhere at the end of June when fiscal Q2 ended. At the time, 1 Bitcoin was worth somewhere between $18,750 and $20,300. This could mean that there are 10,500 coins, of which $197 to $213 million are Bitcoin.

Musk has been a crypto advocate for years and was pretty influential in market moves. In 2021 he helped Bitcoin jump after admitting Tesla bought some for its corporate vault.


Tesla Bitcoin Sale Confirmed by Elon Musk

There has been lots of buzz about altcoins recently, making most crypto investors wonder if they are missing out on something big. But what is the altcoin buzz really about?

To fully understand the altcoin buzz, you first need to know what an altcoin is. 

## What are Altcoins?

Any digital currency that isn't [Bitcoin](/coins/btc) is an altcoin. The word "altcoin" is a portmanteau of "alternative" and "coin" to form "altcoin". It refers to a group of cryptocurrencies - all the coins other than Bitcoin. 

By market capacity, the top three altcoins are Ethereum, USD Coin, and Tether (USDT). Ethereum is the most popular. Other examples of altcoins are Shiba Inu, Solana, Litecoin, Dogecoin, XRP, Binance coin(BNB), ApeCoin(APE), and SandBox.

The first altcoins started in 2011, and now thousands of them exist. Early altcoins strived to improve Bitcoin's traits, such as transaction speeds or capacity efficiency. More recent altcoins perform a variety of tasks.
Different types include:

[Stablecoins](https://www.investopedia.com/terms/s/stablecoin.asp): Cryptocurrencies constructed to follow the price of another currency. Most of the biggest stablecoins are pegged to the US dollar and try to emulate its value. If the price fluctuates, the issuer of the coin will take actions to amend it. Examples include Tether(USDT), USD coin(USDC), and Dai(DAI).

Staking-based: These cryptocurrencies use a technique called staking to verify transactions and augment more coins to the stock. Owners of a staking-based cryptocurrency can select to stake their coins, meaning they're committing those coins to be used for transaction processing. The cryptocurrency's blockchain policy assigns a partaker to verify a block of transactions. In return, participants receive crypto prizes.

Mining-based: This cryptocurrency category uses a mining method to validate transactions and expand more coins to the supply. Miners use gadgets to solve mathematical equations. Naturally, the first miner to decipher the equation gets to validate a block of transactions. In return, miners who validate blocks obtain crypto bonuses.

Governance tokens: They are cryptocurrencies that bestow owners voting rights to help form the future of the project. In most cases, these tokens allow you to develop and vote on suggestions associated with the cryptocurrency.

## Are Altcoins Reliable and the Future of Cryptocurrency?

Future values of altcoins are hard to predict, but if the blockchain they were designed is used and developed, the altcoins are likely to continue and prosper.

With the current state of Bitcoin now, everyone is getting an education on other options they can invest in and use for transactions.

Each time Bitcoin drops in value is an opportunity for altcoins to rise and receive more investment. In recent months, there has been altcoin buzz because of the state of the market.

## Conclusion 

As we all know, Bitcoin is the biggest cryptocurrency. But the value has been hit in recent months, meaning crypto investors have looked at alternatives.

That has increased the altcoin buzz, as investors investigate the top altcoins to invest in and learn more about in times of a crypto crash.

Expanding an investment portfolio beyond Bitcoin can be sensible, especially as some altcoins could deliver significant profits.

As ever, before choosing to invest in any cryptocurrency, ensure you conduct thorough, independent research.


Altcoin Buzz: What's It All About?

While [Bitcoin](/coins/btc) is the big boy of the crypto world, many other coins, known as "altcoins," have emerged in recent years. But which are the altcoins to watch?

Finding the most outstanding altcoins can be difficult due to the many options available, but it's well worth it because these currencies can often yield triple-digit returns.

We've conducted research and put together some of the most interesting altcoins to watch closely in 2022, in no particular order. But first, we need to understand what an altcoin is.

## What are Altcoins?

The term "altcoin" is made up of two words: "alt" and "coin," where alt means "alternative" and coin means "cryptocurrency". They denote a type of cryptocurrency alternative to the digital Bitcoin currency when used together. Following Bitcoin's success, a slew of alternative peer-to-peer digital currencies sprung up to compete.

## Top Altcoins in 2022

### Litecoin: Litecoin (LTC) is a cryptocurrency that was founded in 2011 as a result of a fork in the Bitcoin blockchain. It was created in response to developer worries that Bitcoin was becoming too centralised and making it more difficult for large-scale mining companies to obtain an advantage in mining. For example, a Bitcoin block takes roughly 10 minutes to mine, but a Litecoin block only takes two and a half minutes. The supply of Litecoin is set at 84 million, and the current reward for mining a block is 12 and a half Litecoins, which will be cut in half in 2023.

### NEO: NEO is a Chinese-based blockchain platform, cryptocurrency, and network for decentralised programmes, or dApps. It was influenced by networks like Ethereum, but with a few significant technological changes.
According to its designers, NEO was created for the "Smart Economy", which combines digital assets, digital identities, and smart contracts into one seamless environment. The goal of NEO was never to destabilise China's fiat currency but rather to assist the country's economy is transitioning to the blockchain era.
Despite the Chinese government's crackdown on ICOs and cryptocurrencies, NEO has been able to raise the funding necessary to develop and launch its initiatives, fueling concerns about a possible link between the business and Chinese officials.

### [STELLAR (XLM)](https://coinmarketcap.com/currencies/stellar/): Stellar is a decentralised network that allows users to generate, send, and trade various cryptocurrencies. It was founded in 2014 and debuted in 2015 with the goal of connecting the world's financial systems into a single network.
Like other blockchain-based decentralised platforms and exchanges, Stellar is distributed across numerous servers. This means that a single entity does not supervise the behavior on Stellar. Stripe, one of the major payment gateways in the world, stated plans to replace Bitcoin with XLM in early 2018. As a result of this news, Stellar's price increased by 20% due to this announcement, cementing the coin's position as a Bitcoin alternative.

### ETHER (ETH): The cryptocurrency utilised on the Ethereum blockchain network is called Ether. Ether is known to be the second-largest cryptocurrency in the world, after bitcoin, in terms of market capitalisation. Hence it might be called the largest of the 'altcoins.'
Vitalik Buterin, a programmer, introduced Ethereum as a platform in 2013, and the network went online in 2015. It's mostly used as a decentralised finance platform, but it's also been used to assist with developing other altcoins via initial coin offerings.

### DOGECOIN ([DOGE](/coins/doge)): Dogecoin is the final altcoin we'll discuss in this article, and it's one of the most recent to get mainstream notice. This interest is partly due to celebrity endorsements like Elon Musk, Snoop Dogg, and Gene Simmons on social media.

Dogecoin began as a parody of cryptocurrencies, but it has since grown in market value and popularity. Dogecoin is a digital asset based on a fork of the Litecoin code that serves as an accessible entry point for crypto newcomers. It is based on a division of the Litecoin code. Since its inception in 2013, Dogecoin's popularity has sparked the development of a slew of copycat memecoins, which have grown into their [industry](https://prnews.io/blog/video-journalists.html) of fun digital assets that demonstrate the market worth of internet culture in the digital economy.

## Conclusion

Some people see this low-price phase as an opportunity to increase their crypto holdings before prices rise again. However, much depends on your financial situation and expectations for how crypto will perform in the long run.

Buying crypto may make sense if you only invest money you can afford to lose and have other financial goals, such as retirement savings and an emergency fund.

These altcoins may be interesting in July for various reasons, but don't buy them hoping for a quick profit. Furthermore, don't buy something just because the price appears low; it could go lower. Instead, take time, thoroughly investigate the topic, and maintain a long-term perspective.


Altcoins to Watch: The Top 5

Elon Musk  has found himself in the news again as The Boring Company, an infrastructure and tunnel construction services company owned by the serial entrepreneur announced that customers can pay for rides on its Las Vegas transit system “Loop” using Dogecoin (DOGE).

This announcement was made on Wednesday, July 6, per a report by Cable News Network (CNN). This news comes on the back of May’s announcement of SpaceX soon accepting Dogecoin as a payment option for merchandise, joining Tesla.

Loop allows passengers to travel in Tesla vehicles driven by humans at around 35 miles per hour (mph). Riders need to scan a QR code to buy a ticket. As of July 2022, Loop rides are free. 

With that said, the company plans on rolling out charges to passengers in the not-too-distant future. Despite the listing of DOGE as a payment method, customers who are not interested in the use of the meme-inspired currency are free to use other alternative methods of payment. 

In 2021, while [DOGE](/coins/doge) reached new price milestones, The Boring Company landed a great deal to construct more than 50 stations which is a part of a massive tunnel network underneath Las Vegas. 
 
This year has not been good for cryptocurrencies and the first meme-inspired digital currency has been one of the hardest-hit coins. 
As of 11:15 a.m. BST on Thursday, July 7, DOGE was down 90.76% from its all-time high (ATH) of $0.7376 recorded on May 8, 2021, per data from CoinMarketCap.

The coin was exchanging hands for $0.06879, had a trading volume of approximately $378.62 million, and this corresponded to a market capitalisation of around $9.12 billion. 

Despite the downturn of the market, this statistic is impressive since it maintains DOGE as a medium-cap digital asset (at least $2 billion and at most $10 billion in market value) which continues to make strides to reclaim its large cap status. 

Despite being [sued](https://www.monitalks.io/coins/doge) by an investor for billions of dollars lost in Dogecoin investments, Musk took to Twitter to say, “Support DOGE wherever possible.”





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