Dogecoin Bubble Reminiscent of 2017’s Crypto Frenzy: Ryze Research

Depositphotos 120935822 s 2019 501x420

Dogecoin price last week rallied by 150 percent, logging one of its most significant increases in a three-day timeframe. The explosive upside move came as a part of a coordinated pump caused by a viral TikTok campaign. Nevertheless, the DOGE/USD exchange rate crashed hard upon topping at circa $0.00569 on July 8. Bitcoin firm Ryze made a strong case against Dogecoin following the dump, stating that the meme cryptocurrency is behaving like crypto frenzies from 2017. Dogecoin serves as a reminiscent of 2017’s notorious crypto frenzy, according to Ryze. The Atlanta-based bitcoin firm, which creates automated trading solutions for crypto traders, called Dogecoin for its shady price behavior last week. It noted that the meme cryptocurrency behaved almost like “pump-and-dump scams” that duped investors of millions of dollars in 2017. In retrospect, the Dogecoin price last week rose by up to 150 percent in just three days of trading. The…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE