On Sunday, June 19, 2022, the crypto market saw some well-needed life as the market bounced back over 15%, with many investors openly stating they’re now buying and entering the crypto market. One of the more notable names who has re-entered the market is Elon Musk, who revealed he is continuing to buy Dogecoin amidst the lawsuit filed by Keith Johnson claiming Musk’s involvement with the project was a pyramid scheme. Nevertheless, sentiment is high at the moment, and the crypto market may begin the climb back up the mountain.
The Dip Before the RIP
It is well known that before a large surge and increase in asset price, a dip is usually seen beforehand. This is common for many reasons, but short-sellers exiting to take profits, strong levels of support at key price levels, and fear of missing out as the price rises are usually the main reasons.
This is no different with Ethereum (ETH), as a large bounce came following a break below $1000, as investors saw a key buying opportunity and an undervalued asset. Ethereum was one of the first to surge, and being one of the pillars behind Web3 and the incoming bridge to Eth 2.0, it is easy to see why.
Moreover, reports have come out that Ethereum mining is now ending, paving the way for environmental sustainability, which is imperative for the success of any modern-day project with the Anthropocene at the forefront of many investors’ minds. Although the miners did not take kindly to this, the wider community welcomed the news and saw this as a key factor for entering investments.
The amalgamation of these factors has caused Ethereum to rip, and the future looks bright even with high inflation and an economic downturn. Ethereum has historically been one of the safer investments in crypto, and with significant upside amidst the bridge to ETH 2.0, it could continue to see strong gains.
Elon Doubles Down on Doge
After reports of a lawsuit against Elon Musk for an alleged pyramid scheme across Tesla, SpaceX, and his assets for his involvement with Dogecoin, Elon has doubled and openly stated he is continuing to add to his position.
The lawsuit, filed by Keith Johnson, claims he only invested in DOGE because of Elon’s involvement and is looking for damages that caused him and others to lose a significant portion of their investment. Many within the space expect this to be a somewhat frivolous lawsuit. Investing based on a Twitter post is not an advised investment strategy; doing your research and due diligence is a healthier approach.
With Elon’s backing and DOGE becoming more integrated into wider society, now being accepted as a payment service for many retail vendors, Dogecoin is more than just a meme. It has strong potential to continue rising the ranks of the top coin circulation.
Mushe Token (XMU) Grows 1000% as Investors See the Utility in Web3 Integration
As education and the adoption curve within crypto continues to rise, more and more investors will look to enter the space. The problem with many projects is that the barriers to entry are often high, with jargon and difficult UI’s suppressing new investment.
Mushe Token (XMU) looks set to be a new project that will address this problem and has excellent utility potential as an easy gateway into crypto and to be the secure and simple payments token to bridge Web3 and mainstream finance.
Mushe Token (XMU) has seen a 1000% increase from its initial coin offering, and it is not too late to be a part of one of the top-performing presales in recent times, with stage 2 ending at 00:00 BST on Monday, June 27. Their easy-to-use UI and platform for integration into the Metaverse across NFTs, gaming, and digitalized content enable the world of Web3 to be accessed seamlessly. With more and more users transitioning to Web3, Mushe Token is well-positioned as the entry point for new users.
This project has significant potential to continue to see exponential growth and, in a bear market, offers users an excellent hedge against inflation and a chance to see a large return on their investment. Mushe can be the most successful project in 2022, and if you are interested in learning more or investing, you should check out their website and presale page.
Mushe Token (XMU) Details:-
Website: https://www.mushe.world/
Presale: https://portal.mushe.world/sign-in
Telegram: https://t.me/musheworldXMU
Source: https://www.cryptonewsz.com/crypto-market-recovers-15-percent-with-eth-doge-and-xmu/