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Dogecoin growth is a dangerous signal for the entire crypto market
Experts are confident that the growth of the seventh cryptocurrency - Dogecoin - may be a wake-up call for the market
Aug 17, 2021
1 min read
Anna BakkerNews analyzer

Dogecoin has gained 40% in recent days after billionaire Mark Cuban said DOGE is the strongest currency. By the way, Elon Musk supported the opinion of the billionaire.

Mark Cuban also stated that the imperfection and simplicity of DOGE are the strengths of the cryptocurrency, Dogecoin is a community that anyone can join.

In addition, Dogecoin has received support from the English professional football club Watford, which, under the terms of a sponsorship deal, will display the cryptocurrency logo on the sleeves of its players.

However, despite this positive crypto market, analyst Don Alt believes that Dogecoin's rise could be a wake-up call for the market. “DOGE and SHIB recovery starts a countdown. I will wait 10-30 days and will cut positions no matter how much I like the market situation, ”he said.

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Do not forget about the pressure from regulators, which at any time can provoke an outflow of capital from the cryptosphere, which will cause a significant correction of the market and bitcoin as well.

The strong growth of cryptocurrencies can serve as a trigger for such an artificial market correction by regulators.

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