Event:
One of the leading memecoins from the top list - $Dogecoin added 5% in value, generated a big wave in the cryptocurrency market.
What is the $Dogecoin pump based on?
What could have caused such a big pump? A new distribution season or some updates, perhaps? No, all is as simple as it appears! The $Dogecoin price began increasing aggressively due to the news regarding creating a memecoin reserve, on which the token was added. The Dogecoin Foundation executed an agreement with the House of Doge firm.
Analysis of further events related to the token:
Keeping in mind the entire situation regarding the pump and creation of a new reserve of $Dogecoin, we can safely state that this memecoin has a gigantic chance of going top 1 in its group, because it is now backed not only by a pool of users who shill and hype the token, but also by a gigantic donation in the form of a reserve.
Why were decisions to buy the reserve of memes made?
The corporations signed an agreement and invested comparatively considerable reserves in the amount of $ 1.8 million in an attempt to scale up the Doge project and make it a typical payment systemToday, Dogecoin is the 5th most widely used cryptocurrency in the world, which is rare for a memecoin. The token is accepted as a means of payment in many hotels, restaurants, stores, gas stations and other services.
So what can we say on the basis of all this?
Doge has far surpassed the record-breaking number of buyers and holders, now it is difficult to call it a memecoin, as it is already becoming a widely used method of payment. This article is not investment advice!
