On April 16, 2021, one of the digital currencies, dog coin, attracted the attention of many investors. Within 24 hours, it rose from the lowest price of US $0.12 to the highest price of US $0.3, up more than 120%. Recently, due to the blood sucking effect of bitcoin's rise, there are few digital currencies that can rise more than twice in a short day. However, the current dogcoin has risen from the original 500 in market value to 20. After today's doubling, it has been ranked eighth in the list of cryptocurrency's market value.

Why does musk like dog money?

Many friends may not be very clear about dogcoin, but the birth date of dogcoin is quite long, and the object it imitated at that time was bitcoin. In December 2013, dog coin was officially born. At that time, dog coin was a tip culture, which was also a wind outlet integrating the development of American cultural industry at that time. However, due to the large circulation in the early stage, and it has been taking the route of reward culture, the price fluctuation is not very large. The total circulation of dogcoin is 129 billion, which is many times higher than the constant number of 21 million bitcoins. As a result, the price fluctuation of dogcoin is very difficult to form a big situation like other digital currencies in the trading time of more than seven years.

But the turning point is in 2020, when Tesla CEO musk publicly declared that he was absolutely optimistic about dogcoin and promoted it as a digital currency in the same position as bitcoin. The reason why musk recommended dog coin is very simple, because for a long time before, there was no dealer for dog coin, and there were few financial investment institutions, so the foundation was very clean. As long as musk invests a part of the principal, he can easily become a new dog money maker after unknowingly low chip, and his own position can certainly become a giant whale.

In addition, dog coin itself promotes the consumption culture and thanksgiving culture of the United States, which is also in line with the cultural feelings of American investors to a certain extent. Then, only musk, who has a strong influence, needs to actively promote this digital currency that has been ignored for a long time before, and many financial investment institutions and retail investors in the United States will be optimistic or optimistic When you buy dog money, it's Musk who naturally makes money lying down.

With the rising price of dog coin, there is even a rumor that the founder of Ethereum, v-god, took out more than 400000 pieces of Ethereum to exchange dog coin. Whether the rumors are true or not is no longer important, but the current dog money has achieved a gorgeous reversal. In the future, it can not even be ruled out that it will be accepted by the gray trust investment institutions on Wall Street, and even become a new mainstream digital currency.

From the layout of all this, we can see that musk is a pure businessman, he is extremely sensitive to the new layout of the capital market and the grasp of the tuyere, and can use his own influence and wealth to become a new dealer. If the dog coin is calculated from the lowest point a year ago, the highest price so far is US $0.3, which has increased by more than 100 times. Whether the dog coin will be used up and abandoned by the capital market in the future is unpredictable. But a new capital speculation will be staged on Wall Street. So we might as well boldly guess whether the follow-up Wall Street financial investment institutions will face up to this dog coin which was once buried before? The market value of bitcoin is promising in the future.

(2021-4-16)