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Well-known crypto enthusiast Michael Novogratz advises against contacting Dogecoin



This week, many of the top cryptocurrencies that have been falling over the past week have begun to regain their decline. Dogecoin demonstrates the best dynamics – over the past seven days, it has added 45% of its value and is now trading at around $ 0.38. However, not everyone believes in a bright future for Dogecoin.

Among the Dogecoin skeptics is Michael Novogratz, a fairly prominent figure among crypto enthusiasts. He is the former owner of Fortress Investment Group, an investment company, and now the CEO of Galaxy Investment Partners, which actively invests in Bitcoin and Ethereum. And just Novogratz advises not to buy, but, on the contrary, to sell Dogecoin.

Well-known crypto enthusiast Michael Novogratz advises against contacting Dogecoin

I don’t think Dogecoin should be bought, but there are many ignorant investors who want to participate in this period of Dogecoin boom“, – this is the opinion of the crypto enthusiast.

Why Dogecoin fell out of favor with Novogratz is not clear, perhaps he is simply not happy with the fact that Bitcoin, in which his Galaxy Investment Partners is actively investing, is not growing so actively. Nevertheless, Elon Musk would clearly disagree with him: the head of Tesla has repeatedly confessed his love for Dogecoin and even promised to launch it to the moon. Actually, to a large extent, the growth of the Dogecoin rate this year is due to Musk’s statements. For such verbal interventions, they already want to sue him: many believe that Musk, who has a huge Twitter subscriber base and is a popular media personality, is thus manipulating cryptocurrency rates.

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