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Sunday, June 23, 2024

DOGE price prediction is the culprit in recent US allegations according to McAfee

Antivirus software entrepreneur John McAfee said Dogecoin was part of new charges brought against him by the US Department of Justice.

In a tweet on Sunday, McAfee pointed out that DOGE was one of several cryptocurrencies he endorsed in his coin of the day tweets about four years ago. “For several days in 2017, I was picking coins that I thought had value,” McAfee said regarding his choice of cryptocurrencies.

The well-known entrepreneur noted that the price of Dogecoin has risen 1000% since he “picked it,” hinting that his DOGE tweets should therefore not be included in the Justice Department’s latest “pump and dump” accusations.

McAfee apparently referred to his 2018 tweet, which included a short statement: “Coin of the Week: DOGE.” On the day this tweet was posted, January 8, 2018, DOGE was trading at around $ 0.014 and then dropped to $ 0.007 in two weeks, according to CoinGecko. It wasn’t the first time the coin crossed the $ 0.014 price mark until Dogecoin started showing significant gains in late 2020 following Musk’s tweets.

Dogecoin was just one cryptocurrency that McAfee promoted on Twitter in late 2017 and early 2018, along with the likes of Electroneum, Burst, Digibyte, Reddcoin, Humaniq, Factom, and more. McAfee revealed that he has an entire team to promote initial coin offerings and other crypto projects on his official Twitter page, offering one promo tweet for $ 105,000.

Already in custody on charges of tax evasion, on March 5, 2021, the Ministry of Justice brought new charges of fraud. Twitter followers advertise various cryptocurrencies with false and misleading statements to hide their true selfish motives.

As previously reported, Tesla CEO Musk has been the subject of rumors of a potential US Securities and Exchange Commission investigation into its alleged impact on DOGE price movements in late 2020 and early 2021. Following a series of DOGE-related tweets from Musk, Dogecoin’s price hit an all-time high of $ 0.08 in February on 8 February. DOGE subsequently experienced a major sell-off after Musk urged large holders to sell off their assets.

Technical Analysis of DOGE price prediction

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