Two very big news came for Dogecoin Cryptocurrency directly & indirectly; the sudden increment in the trade volume of Dogecoin Cryptocurrency is reflecting a new level of bull sentiment among Dogecoin lovers.
Dogecoin is a popular meme Cryptocurrency, launched by Billy Markus & Jackson Palmer in 2013. Both of the Dogecoin creators are no longer crypto investors. With time, Dogecoin Cryptocurrency lost its popularity, but suddenly in 2020, one of the richest people Elon Musk promoted Dogecoin as the best Cryptocurrency & called it the future’s best payment Cryptocurrency. Musk’s support helped Dogecoin to get a position in the top 10 cryptocurrencies in the market.
Recently, a Bloomberg ETF expert shared some details about Bitwise’s Dogecoin ETF plan.
Some other media reports also confirmed that Bitwise & REX Shares established a partnership to launch the Dogecoin spot ETF product.
On the other hand, Elon Musk proposed to use blockchain technology to track the government’s fund spending. Currently, Musk is one of the top leaders of DOGE, the Department of Government Efficiency, and he is probably interested in bringing public money spending details on the blockchain network so that the public can check & track how their tax money was spent by the government authorities.
Binance’s former CEO Changpeng Zhao (CZ) also shared his happiness with this new proposal of using blockchain technology to allow the public to track public tax money spending.
All these developments are helping to derive bull sentiments around Dogecoin Cryptocurrency. However, the DOGE agency is not directly connected with Dogecoin Cryptocurrency, but its intentionally similar name is helping to promote Dogecoin.
The current trade price of Dogecoin is $0.35 & this price level is 1.3% down over the last 24 hours trading period.
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