{"id":122578,"date":"2021-04-26T10:19:13","date_gmt":"2021-04-26T10:19:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=122578"},"modified":"2021-04-26T10:19:13","modified_gmt":"2021-04-26T10:19:13","slug":"coin-bureau-4-reasons-for-current-insane-demand-for-dogecoin-doge","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/coin-bureau-4-reasons-for-current-insane-demand-for-dogecoin-doge\/","title":{"rendered":"Coin Bureau: 4 Reasons for Current &#8216;Insane Demand&#8217; for Dogecoin ($DOGE)"},"content":{"rendered":"<p>Recently, crypto analyst and influencer \u201cCoin Bureau\u201d (\u201c@coinbureau\u201d on Twitter)\u00a0took a closer look at Dogecoin ($DOGE), and in particular talked about why it pumps.<\/p>\n<p>In a\u00a0video\u00a0(titled \u201cDogecoin: Is The Hype REAL?? This You NEED To Know!!\u201c) released on YouTube channel \u201cCoin Bureau\u201c, the show\u2019s pseudonymous host told the channel\u2019s over 742K subscribers\u00a0that here are the four reasons for the current \u201cinsane demand\u201d for Dogecoin: <\/p>\n<ul>\n<li><strong>Meme Culture<\/strong> (\u201csimplicity sells\u201d)<\/li>\n<li><strong>Social Media<\/strong> (\u201csome of the biggest trends for $DOGE have been over on TikTok\u201d)<\/li>\n<li><strong>Elon Musk<\/strong> (Elon Musk wants to \u201csend $DOGE to the moon\u201d; \u201cyou can almost perfectly track the price pumps in $DOGE to his tweets about it\u201d; \u201ca mere tweet of a dog by Elon can make the $DOGE price pump\u201d)<\/li>\n<li><strong>Robinhood<\/strong> <\/li>\n<\/ul>\n<p>He then went on to explain why people are \u201cso keen to to pump the price of $DOGE.\u201d Here are his theories:<\/p>\n<ul>\n<li>\u201c<em>Some people are genuinely having fun. They love the community and enjoy the memes\u2026 This is the category that I think Elon Musk falls into.<\/em>\u201c<\/li>\n<li>\u201c<em>Another type of $DOGE trader are those that are trying to make money on its pumps\u2026 There are some in this category who have made millions doing so.<\/em>\u201c<\/li>\n<li>\u201c<em>There is, of course, another type of investor that\u2019s unaware of these risks. They think that Dogecoin really could become a global currency and overtake Bitcoin.<\/em>\u201c<\/li>\n<\/ul>\n<p>And finally, the crypto analyst ended the video with these closing thoughts about Dogecoin:<\/p>\n<p>\u201c<em>$DOGE is a really fascinating cryptocurrency. I will admit that I never expected it to reach this level, and I have to say that I am impressed. Despite having some pretty simplistic crypto tech, it has captured the attention of millions of users who otherwise would not have been using crypto\u2026<\/em><\/p>\n<p>\u201c<em>I also can\u2019t stand here and say that the trend won\u2019t continue. Parabolic price action can be irrational, and I sure as hell won\u2019t be shorting $DOGE\u2026 but there will come a time when larger holders take profit, and this will lead to a collapse in price. It\u2019s merely logical\u2026 The community is cool and dynamic, and I love its enthusiasm. However, many are investing with real money, and when they lose it, it won\u2019t be a joke.<\/em>\u201c<\/p>\n<p>According to data by CryptoCompare, Dogecoin is currently (as of 08:4 UTC on April 26) trading around $0.2612, down 4.71% in the past 24-hour period, but up 2,558% in the year-to-date period.<\/p>\n<p>https:\/\/youtube.com\/watch?v=kLs1YIXOl4c%3Ffeature%3Doembed<\/p>\n<p><em>Featured\u00a0Image\u00a0by\u00a0\u201ckazzzsat\u201d\u00a0via\u00a0Pixabay.com<\/em><\/p>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/04\/coin-bureau-4-reasons-for-current-insane-demand-for-dogecoin-doge\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, crypto analyst and influencer \u201cCoin Bureau\u201d<\/p>\n","protected":false},"author":3,"featured_media":122577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coin Bureau: 4 Reasons for Current &#039;Insane Demand&#039; for Dogecoin ($DOGE) - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/coin-bureau-4-reasons-for-current-insane-demand-for-dogecoin-doge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coin Bureau: 4 Reasons for Current &#039;Insane Demand&#039; 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