Connect with us

Dogecoin

Elon Musk Puts Pressure on McDonald’s to Accept Dogecoin

Published

on

Doge and Ethereum -Investors King

Billionaire Elon Musk, the CEO and Cofounder of Tesla, on Tuesday, took to his Twitter page to challenge Mcdonald’s, one of the world’s iconic fast-food restaurants, to accept the popular meme coin, Dogecoin as one of its numerous payment methods across its outlets globally.

The billionaire promised to eat the company’s happy meal on tv if the company accepts the meme coin as payment.

Dogecoin immediately responded to Elon Musk’s tweet with a picture of Mcdonald’s meal containing Kabosu, the dog in the doge meme logo.

This is coming a week after Tesla and Elon Musk announced that the company has started accepting Dogecoin as payment for Tesla’s merchandise. The value of the digital asset surged by 20 percent immediately the billionaire made the announcement via his Twitter handle.

The value of Dogecoin rose by 3.76 percent on Tuesday to $0.1415 a coin, still below its all-time high of $0.7.

Cryptocurrency started falling in early December when it became clear that the US Federal Reserve will raise interest rates in 2022 to curb rising inflation and rein in prices.

According to The Wall Street Journal, the “Federal Reserve officials at their meeting last month eyed a faster timetable for raising interest rates this year, potentially as soon as in March, amid greater discomfort with high inflation.

“Minutes of their Dec. 14-15 meeting, released Wednesday, showed officials believed that rising inflation and a very tight labor market could call for lifting short-term rates “sooner or at a faster pace than participants had earlier anticipated.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Continue Reading
Comments

Dogecoin

Dogecoin (DOGE) Rides Bitcoin Surge, Gains Over 10% in 24 Hours

Published

on

Dogecoin - Investors King

The cryptocurrency market is witnessing a resurgence of risk appetite as more investors jump on unconventional choices such as Dogecoin (DOGE), Shibacoin, Memeland, etc. 

In the past 24 hours alone, DOGE has surged by over 10% to $0.10 a coin for the first time since April following Bitcoin’s climb from $38,000 to $44,000.

This surge, coupled with the rising price, validates the upward trajectory of DOGE, signaling growing investor interest.

Funding rates on various exchanges have also experienced a substantial surge, hitting an annualized 50% or more.

These rates, reflecting a steep premium in perpetual futures relative to spot prices, indicate a prevalent bullish sentiment among investors.

It underscores their collective optimism, suggesting a belief that prices are poised for further upward momentum.

Joke cryptocurrencies like DOGE have historically exhibited high-beta characteristics, closely mirroring Bitcoin’s movements but often with greater intensity.

Investors are advised to exercise caution and monitor DOGE’s potential for extreme bullish action relative to Bitcoin, serving as a potential indicator of speculative exuberance typically observed in the latter stages of a widespread bullish trend.

Continue Reading

Dogecoin

Elon Musk Slammed With Fresh Lawsuit by Investors, Accused of Insider Trading in Dogecoin

Tesla and Twitter CEO Elon Musk has been slammed with a fresh lawsuit by investors, accusing him of insider trading and manipulating the price of Dogecoin which cost them billions of dollars.

Published

on

Dogecoin- Investors King

Tesla and Twitter CEO Elon Musk has been slammed with a fresh lawsuit by investors, accusing him of insider trading and manipulating the price of Dogecoin which cost them billions of dollars.

In a filing on Wednesday in Manhattan federal court, Southern District of New York, U.S., investors stated that Musk engaged in a deliberate act of manipulation, which saw him pay influencers as well as other publicity stunts, with the intention to pump Dogecoin’s price at their expense.

Musk’s stunts include his public appearances, a reference to his 2021 appearance on NBC’s “Saturday Night Live” where he told viewers to invest in Dogecoin, and social media activities hyping the cryptocurrency. These stunts reportedly boosted Dogecoin’s price by 36,000% to $0.70+ in May 2021. Today, DOGE trades 90% down from that high. 

Part of the lawsuit filing reads, “Musk’s pretense that promotion of Dogecoin was just well-meaning fun, not meant to be taken seriously is not credible”.  A key part of the lawsuit is the presupposition that Dogecoin is an unregistered security under existing standards from the U.S. Securities and Exchange Commission. 

This amended complaint, which is investors’ third change since the lawsuit started last June, contains a fresh allegation that Musk sold dogecoin worth about $124 million after he switched Twitter’s logo to a Shiba Inu dog in April, that caused the token’s price to surge by 30%.

Specifically, the lawsuit claims to have tracked down a wallet address that allegedly belonged to Musk and became the largest single holder of Dogecoin by February 2021. The wallet is reported to have sold millions of dollars worth of Dogecoin at multiple times throughout April 2021.

These investors accuse Musk of deliberately driving up Dogecoin’s price to more than 36,000% over two years, and eventually letting it crash.

Meanwhile, in response to an earlier iteration of the lawsuit slammed by investors, Musk’s lawyers said his statements were too vague to be considered fraud and called the lawsuit a fantasy. “There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,” Musk’s lawyers said at the time,

Recall that Dogecoin according to Musk was created as a joke and has no practical use case. In 2021, Musk said that his social media posts about meme cryptocurrency dogecoin are “just meant to be jokes” and his true allegiance lies elsewhere.

Musk had conceded in the Clubhouse interview that he doesn’t have a strong opinion about tokens outside of Bitcoin, the world’s dominant crypto.

Meanwhile, Investors King understands that the billionaire CEO’s favorite crypto was never clear, but had repeatedly appeared to endorse dogecoin launched in 2013 using the branding of a Shiba Inu dog from a then-popular internet meme to his millions of Twitter followers.

Continue Reading

Dogecoin

Crypto Whale Scoops About $38 Million Worth of Dogecoin (DOGE) in Three Days

Published

on

Dogecoin - Investors King

Apparently preparing for the upcoming rally, a crypto whale has scooped about $38 million worth of Dogecoin (DOGE) over three days this week to become one of the richest DOGE addresses in the world.

Dogecoin is a dog meme cryptocurrency backed by Tesla owner and Twitter CEO, Elon Musk. 

As of the time of writing this report, Dogecoin is worth $0.087 with a market capitalization of more than $11.5 million, ranking as the 10th largest cryptocurrency. 

Dogecoin is down nearly 5% in the past day but still up more than 5% in the past week. It’s also up roughly 22% since the start of 2023, Binance platform reveals. 

According to BitInfoCharts, the whale now has a balance of more than 709.2 million Dogecoin worth more than $60 million, making it the 20th-largest DOGE wallet in the world. 

Investors King understands that positive social media sentiment has been surrounding dogecoin since Elon Musk posted a picture of a dog as the new Twitter CEO on his Twitter page. Within minutes, the post generated a lot of reactions from crypto enthusiasts. 

Musk tweeted a picture of his pet dog sitting on the company’s CEO’s chair, with the caption: “The new CEO of Twitter is amazing. So much better than that other guy!” he added.

Meanwhile, a Dogecoin wallet that has been inactive for almost two years has recently transferred a significant amount of DOGE to a new address, amounting to 326.4 million DOGE or roughly $28 million at the time of the transfer.

This transfer has caught the attention of the crypto community, with many speculating on the potential impact on DOGE’s price.

However, it is important to note that this is not the first time a large amount of DOGE has been moved around. In fact, earlier this year, a whale transferred 36.8 billion DOGE, which was worth around $1 billion at the time. Despite this large transfer, DOGE’s price remained relatively stable.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending