The host of Mad Money, a CNBC show, issued a warning to Dogecoin holders. Cramer believes that Dogecoin is a security and it will be regulated soon.
Analysts believe that the Dogecoin price could start an uptrend.
Jim Cramer, the host of the CNBC show Mad Money, has suggested that the purpose of Dogecoin is to make money for cryptocurrency exchanges. Cramer believes that Dogecoin is a security and it will be regulated soon.
Cramer is a known critic of cryptocurrencies, confessing that they are “gambling on crowd psychology.”
The Mad Money host urged investors and traders to be cautious when trading the Shiba-Inu-themed cryptocurrency. Cramer tweeted about Dogecoin:
Billy Markus, the co-founder of the Shiba-Inu-themed cryptocurrency Dogecoin, responded to Cramer’s thoughts on the memecoin.
Markus asked Cramer to learn about Dogecoin and the way the blockchain works. Dogecoin does not qualify the Howey Test, the U.S. Supreme Court case, to determine whether a transaction qualifies as an investment contract. The proof-of-work memecoin is a cryptocurrency similar to Bitcoin.
Markus explains that Dogecoin is not a security; it is a cryptocurrency like Bitcoin. Historically, Cramer has criticized Dogecoin, even at its peak in April 2021.
Analysts have evaluated the Dogecoin price trend and predicted a trend reversal. @RAFAELA_RIGO_, a crypto analyst and trader, believes that Dogecoin price could hold support at $0.16 and bounce back, starting an uptrend.
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