TL; DR
-
There are a lot of headlines about Dogecoin right now…
-
For example, there is currently over $600 million locked in open Dogecoin Futures.
-
Elon also halts Dogecoin’s rise by confirming that his AI company is ‘not raising money’.
Full story
For whatever reason, there are a lot of headlines about Dogecoin right now…
Oh, so be it!
Reporting that ‘Bitcoin went up (again)’ was starting to get a bit repetitive anyway.
(By the way, Bitcoin is up again, cracking/fluctuating around $44,000).
Anyway, here’s what you missed with Dogecoin:
-
There is currently over $600 million in open Dogecoin Futures.
‘Futures’ are agreements to buy or sell a stock/cryptocurrency at a predetermined date and price in the future.
(More $ locked up in futures = more public interest in the asset).
Why the renewed interest in Doge? Good…
-
Doge just turned 10 and coincidentally made $0.10 cents for the first time in a year.
Some think this price increase was the result of a rumor that Elon Musk was raising $1 billion to fund his new AI company (xAI).
(And many investors assume xAI will use Doge as its payment system).
That brings us to headline #3…
-
Elon halts Dogecoin’s rise by confirming his AI company ‘isn’t raising money’.
(See above for what Doge has to do with Elon’s AI company).
Right-eo! That’s all.
Now you know it.