Boom! Dogecoin Is Up 600 Percent In One Week
JAKARTA - Dogecoin (DOGE) crypto assets have continued to experience fantastic price increases over the past week. With an increase of more than 600 percent from around IDR 1,000 on April 12 and 13 2021 to IDR 6,850 on April 19, 2021.
At the same time, the prices of Bitcoin and Ethereum as well as several other cryptos are experiencing a correction after reaching historical highs. Indodax CEO Oscar Darmawan, reminded investors that the price of DOGE could be reversed, especially since these crypto assets also do not have strong fundamentals like Bitcoin and Ethereum.
"So far, DOGE has not had strong fundamentals like Bitcoin and Ethereum. And the opinion of analysts states that DOGE could experience a relatively deeper and faster correction than the two kings of crypto assets", Oscar said in his statement, Wednesday, April 21.
Oscar Darmawan quoted FxPro senior financial analyst Alex Kuptsikevich as saying that selling for altcoins like DOGE would be faster and fiercer than major cryptos such as Bitcoin and Ethereum.
According to him, DOGE has been booming recently because it was popularized by Elon Musk and his two companies Space X and Tesla via Twitter, which made DOGE demand soar last week which made the price so fantastic.
In addition, DOGE's price, which is relatively very cheap compared to other cryptos, is an attraction for people to buy. The increase in DOGE last week was also accompanied by the price of Bitcoin and Ethereum which is currently correcting or decreasing slightly.
Oscar stated that one of the places to buy DOGE, Bitcoin and Ethereum was Indodax, which is the largest Bitcoin and crypto exchanges company in Indonesia with 3 million active members.
On that occasion he stated that Indodax's operations were running normally and to this day have traded 131 crypto assets from around the world. Indodax is a company that is established and has obtained legality from the Ministry of Trade and the Commodity Futures Trading Supervisory Agency (Bappebti).
"Not only about Indodax, but all things related to crypto are regulated by the Ministry of Trade and Bappebti. We certainly obey the applicable rules, so that Indonesian people need not be afraid to invest in crypto assets", he said.