Bitcoin & Co: This image ensures a 25 percent price increase for Dogecoin

While mostly moderate gains were recorded in the crypto market at the beginning of November, Dogecoin once again knew no stops on Tuesday morning. The course of the fun cryptocurrency follows the rally of the past few days with a price increase of about 25 percent. The reason for this is – once again – Elon Musk.

The new Twitter owner and self-confessed Dogecoin fan tweeted a photo of his dog wearing a Twitter-branded t-shirt next to a Twitter Halloween pumpkin. The image is only commented with a winking smiley, but the Dogecoin community still knows how to interpret the image.

The Musk tweet is interpreted as a further indication of the introduction of DOGE as a means of payment on Twitter. Similar speculation has persisted since Musk’s plans to take over the SMS service became known and has been fueled time and time again by more or less obvious hints from the tech billionaire.

During the Twitter takeover by Elon Musk, the Dogecoin price had already risen sharply in the past few days. The Halloween image currently adds an additional 25 percent. On a 7-day perspective, the price increase rises to around 145 percent. Just below 15 cents, the price is now higher than it has been since late April.

Dogecoin stands out again and should maintain this outperformance – at least as long as Musk continues to fuel speculation. However, the past has shown that the fun coin is also particularly susceptible to temporary profit-taking. In addition, the Fed’s interest rate decision tomorrow, Wednesday, will be another acid test for the mood in the markets.

Dogecoin
(ISIN: CRYPT000DOGE)

A bet on Dogecoin should therefore only be risked by experienced crypto traders who are very willing to take risks. However, Bitcoin and Ethereum remain the first choice for long-term crypto investors.

Anyone who wants to get started with ten particularly trendy coins based on the proven TSI system and easily without registering on a crypto exchange can access the Crypto TSI Index from DER AKTIONÄR. The certificate with WKN A2URRU reflects the performance of the index almost 1:1.

You can find more information here.

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CEO and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that may benefit from any price development resulting from the publication: Bitcoin, Ethereum.

The editor-in-chief of the publisher Börsenmedien AG, Mr. Leon Müller, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that may benefit from any price development resulting from the publication: Bitcoin, Ethereum .

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