TL;DR
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There’re a bunch of headlines about Dogecoin right now…
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For example: Over $600M is locked in open Dogecoin Futures right now.
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Also, Elon halts Dogecoin surge by confirming his AI company is ‘not raising money.’
Full Story
For whatever reason, there’re a bunch of headlines about Dogecoin right now…
Oh well, so be it!
Reporting that ‘Bitcoin went up (again)’ was starting to feel a little repetitive anyway.
(Btw, Bitcoin did go up again, it cracked/has been hovering around $44k).
Anyway, here’s what you missed with Dogecoin:
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Over $600M is locked in open Dogecoin Futures right now.
‘Futures’ are agreements to either buy or sell a stock/cryptocurrency at a predetermined date and price in the future.
(More $ locked up in futures = more general interest in the asset).
Why the renewed interest in Doge? Well…
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Doge just turned 10, and coincidentally hit $.10c for the first time in a year.
Some think this price jump was the result of a rumor that Elon Musk was raising $1B to fund his new AI company (xAI).
(And many investors assume that xAI will use Doge as a payment system).
Which brings us to headline #3…
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Elon halts Dogecoin surge by confirming his AI company is ‘not raising money.’
(See above for what Doge has to do with Elon’s AI company).
Right-e-o! That’s everything.
Now you know.
