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- DOGE is Scared by FTX Liquidation Hoping for Musk to the Rescue
DOGE is Scared by FTX Liquidation Hoping for Musk to the Rescue
Doge mem coin is sitting on the support at $0.060 per coin. This situation is very serious, as any dive below this level may lead DOGE prices to drop by 30-35% to $0.040 per coin.
Meanwhile. Investors are digesting the latest news about a sell-off of $3.4 billion assets of infamous FTX crypto exchange. DOGE is also on the sell-off list with FTX $40 million holdings in this coin. If all these coins will be sold at once the support at $0.060 would likely surrender.
Crypto enthusiasts hope that Elon Musk would come to the rescue as the X company, former Twitter, may incorporate Dogecoin to its payment system. X has already acquired eight licenses to add crypto payments, store crypto assets, and to conduct crypto payment on the U.S. territory. If Dogecoin will become an X internal currency, it will send its prices to the moon.
However, the sell-off is seen much nearer than the introduction of X payments. So, DOGE has higher chances to plunge by 30% first.
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