What caused the rise of Dogecoin price？
Just a few days ago, you can clearly see that the ranking of dogecoin on citicoins.com has risen to the 21st place where the front of OMG coin. Before that, it has been hovering around the 48th, and once fell out of the top 50. During this time, the Dogecoin price soared by 125%.
So why is the price increase of Dogecoin so amazing recently? This matter is also because of Chinese controllers manipulating funds. And here are three coincidences during this time.
1. Chinese MLM
Just a month ago, a Chinese company named "Zhengyu Group" began to get involved in the blockchain industry and made a "global OBB pass-through community", which is also a mode of fund-based rebates for offline returns.
However, recently, this fund cannot continue because the member's principal has been unable to be redeemed. So they thought of a way: ask members to do Dogecoin trading, and then put Dogecoin on the line, in order to "activate" the funds back to the principal.
In other words, those members need to continue to invest if they want to get their money back. However, plenty of members have lost their money, and they already had no money to invest. The community of this fund is already full of vituperation, and many people have seen this scam clearly.
Zhengyu Group wants members to continue to invest money in order to get back the principal. It is nothing more than two purposes:
(1) Reduce the number of people who want to return the principal. If you don't keep voting, it is equivalent to automatically give up the principal.
(2) Keep that trap. And it's absolutely impossible to return the principal.
Chinese cryptocurrency players are really insane.
2. Dogecoin price was deliberately pulled up
You will find that this round of price rises in Dogecoin is not what the fund members buy and pull, it is just a banker pull.
First of all, the banker of Dogecoin in this matter is astonishing.
The top 100 Dogecoin address holds 60% of Dogecoin. In BTC, BCH and other currencies, this ratio is 19% and 24% respectively.
Dogecoin is a highly banker-controlled currency with a good controlled foundation in that.
Dogecoin and its propaganda tips culture, relying on community development, it seems to be free and open. In fact, completely different.
Second, the Dogecoin price pull has obvious signs of capital operation.
The address DDTtqnuZ5kfRT5qh2c7sNtqrJmV3iXYdGG has been buying Dogecoin crazy since August 30, which happens to be the time when Dogecoin price starts to rise. In addition, there are other addresses that are also buying Dogecoin at the same time.
3. Dogecoin Link Ethereum
Finally, Zhengyu Group asked members to buy Dogecoin time, which is the time when Dogecoin will post "issue the meme-dcoin link ETH coin" news.
On the same day, there was a huge sum of money bought Dogecoin; on the same day, the blockchain media side announced positive Dogecoin news; on the same day, the fund was set to buy, is this really a coincidence?
Therefore, it is too important for cryptocurrencies to move away from China.