The Dogecoin price is flying high at the moment, having underperformed for most of this year. The meme coin recently rose to a five-month high, which indicates that the Dogecoin price is set to enjoy a bull run, which Elon Musk has so far driven.
Dogecoin Price Reaches 5-Month High
The Dogecoin price recently rose to as high as $1.7, marking a five-month high for the foremost meme coin. This recent Dogecoin price rally is likely due to Elon Musk’s indirect support of DOGE through his proposed Department of Government Efficiency (D.O.G.E). DOGE whales have been buying the meme coin as they believe that Musk’s proposed ‘D.O.G.E’ presents a bullish outlook for the Dogecoin price.
IntoTheBlock data shows that these whales had accumulated throughout October, eventually leading to this Dogecoin price breakout. However, these whales are now looking to secure profits, which puts the Dogecoin price at risk of a significant price correction. Further data from IntoTheBlock shows that the DOGE inflows into exchanges have surged, indicating that these whales are looking to sell their coins.
Why Investors Should Buy The Ethereum Token ETFSwap (ETFS)
Investors in ETFSwap (ETFS) could stand to enjoy gains in this market cycle and could be better off focusing on the Ethereum token because it boasts a unique utility that will send its price skyrocketing, unlike DOGE, which thrives mainly on hype.
The Ethereum token is the native token of the ETFSwap (ETFS) platform, which offers tokenized exchange-traded funds (ETFs) and crypto assets in one place. Investors can easily swap the token for their desired asset. At the same time, they can convert their ETFs to crypto assets and vice versa using the Ethereum token.
The opportunity to invest in ETFs and crypto assets in the same place will attract both traditional finance (TradFi) and crypto investors who have been looking for an easy way to diversify their portfolios. This massive demand for the ETFSwap (ETFS) token among these investors will contribute to the projected 300,000% price rally.
The Ethereum token is already enjoying a lot of demand in its ongoing presale as investors look to purchase the token before the ETFSwap (ETFS) beta platform launches. Over 75 million ETFS tokens have been sold in the presale, with less than 10% of the presale allocation remaining.
The ETFSwap (ETFS) beta platform has already launched on the Ethereum testnet, with a mainnet launch set to take place soon. When that happens, investors will be able to buy their desired asset using the Ethereum token. They will also gain access to the platform’s staking feature, which allows them to stake their assets and earn impressive yields.
Meanwhile, investors will be able to maximize their gains on the decentralized trading platform using its artificial intelligence (AI) powered trading tools. These tools, ETF Tracker and ETF Screener, analyze several market data and recommend the best ETFs for investors to invest in.
These tools will also be helpful when trading ETF perpetuals on the ETFSwap (ETFS) trading platform. The platform allows investors to open short or long positions on these ETFs with up to 50x margin on their initial capital. This trading feature enables investors to hedge against their investment in the underlying asset.
Conclusion
The ETFSwap (ETFS) presale is in the bonus round and only on for a limited period. As such, those who have yet to invest in the Ethereum token should hurry and participate in the ETFSwap (ETFS) presale, so they don’t miss out on potential generational wealth.
Visit ETFSwap Presale
Join The ETFSwap Community
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Source: https://coincu.com/290907-dogecoin-price-reaches-5-month-high-heres-whats-driving-the-increase