After the El Salvador announcement we can expect Dogecoin to explode in the next few days. Likely spiking on Wednesday. But will it hit a $1 and allow everyone to recoup? There is a few reasons to have some hope.
1. Crypto Acceptance Is Growing
Crypto in general had a big win over the weekend.
El Salvador passed a bill allowing Bitcoin to be used as legal tender.
It’s no secret the effects that good news for Bitcoin tends to be good news for crypto in general.
“As of 3:30 a.m. ET on Thursday, the virtual currency was trading at $36,849 per coin, jumping about 7.9% over the last 24 hours, according to CoinDesk.
Salvadorian lawmakers made history on Wednesday by approving a proposal from President Nayib Bukele that would allow bitcoin (XBT) to be used as a form of legal tender in the country, alongside the US dollar.
The law states that “all economic agents shall accept bitcoin as a form of payment when it is offered by the purchaser of a good or service.” It also says that tax payments can now be made in bitcoin.”– Source
And now there are people actually racing to buy Dogecoin in El Salvador.
News of the high-demand for Dogecoin overseas caused a spike in the value of the crypto.
Bitcoin and other popular digital currencies, including Ethereum and Dogecoin, all rose on Wednesday according to the tracking site Coindesk. Bitcoin, which climbed above $60,000 early this year, was up 10% to $36,050. – Source
2. Jack Dorsey And Elon Musk Basically Confirmed It
When Elon Musk talks about Dogecoin, you listed.
His cryptic video about Dogecoin having no true limit made people millionaires over night.
“Now, Twitter chief executive Jack Dorsey, a long-time bitcoin-backer, has revealed it’s “only a matter of time” before either Twitter or its fledgling decentralized social network project Bluesky integrates bitcoin payments—and has replaced Elon Musk as bitcoin’s new billionaire champion.” – Source
Dogecoin demand in El Salvador is turning heads everywhere.
Elon Musk may be a bit of a loose cannon but Jack Dorsey is someone we can all trust.
3. Rumors Dave Portnoy May Be Getting In Soon
Made to look like a fool as the self proclaimed “Warren Buffet” of our generation told everyone that Dogecoin was a joke of a stock and destined to fail.
That stock ended up going from under less than a penny to over a dollar.
There are talks that Portnoy is ready to lick his wounds, accept his mistakes, and get his followers back on the Dogecoin train. Plus we all know Portnoy loves El Salvador. Dogecoin would be his perfect endorsement now.
Update: Dave Portnoy IS IN on Dogecoin.