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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