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The price of Dogecoin shot up over 30% after Twitter accepted Elon Musk's $44 billion buyout.
Today, while the wider crypto market is in a downward slump, Dogecoin is the only top 20 crypto showing positive price growth of 3%. Compare this with the price of EverGrow Coin which has grown as much as 36% today.
Both Dogecoin and EverGrow Coin have links to Elon Musk and his businesses, meaning that 2022 could be a breakout year for both Dogecoin and EverGrow Coin.
The metaverse is a key area for cryptocurrencies, as they could become the de facto means of payment for the web3 generation. EverGrow Coin has got behind the trend after forging a strategic partnership with The Abstract metaverse.
The Abstract is the product of US-based Objective Reality Studios, and will bring the world's first cloud-streamed arcade of virtual reality games to the metaverse space. According to virtual reality gaming research, it can cost around $5,000 for a VR headset user to get enough computing power to play high-quality VR games at home.
A cloud-streamed gaming arcade could change that. And with an estimated 50 million VR headset owners in the US alone, The Abstract could be a gamechanger that brings metaverse experiences to the masses. Enter EverGrow Coin.
EverGrow Coin will build its NFT marketplace LunaSky, its content subscription platform Crator, a metaverse crypto exchange (think of a virtual reality bank), and play-to-earn gaming into The Abstract experience. The integration is not expected to drop until the end of 2022, but this makes the current EverGrow Coin price of $0.0000006303 on the DigiFinex exchange a top buy for long-term investors.
Elon Musk is well known as a Dogecoin backer. It was his appearance on Saturday Night Live last year that saw Dogecoin hit its all-time high of $0.7376.
The price of Dogecoin has shown a strong correlation with Elon Musk's activity this year – for example, after Musk Tweeted he holds Dogecoin, or after he announced you could charge a Tesla using Dogecoin in Santa Monica back in March.
Musk has already suggested Dogecoin might be used to pay tips or other payments on Twitter. This could be expanded to include other services, and increase the demand for Dogecoin.
The price of Dogecoin is currently $0.14. This is a 3% increase in the price of Dogecoin in the past 24 hours according to CoinMarketCap. The price of Dogecoin is also up 2.6% in the past 7 days.
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
