Those suffering sleepless nights from the latest cryptocurrency crash may find some solace in the rap star’s words and Dogecoin (CRYPTO: DOGE) aficionado and kingpin of the NFT Snoop Dogg.
What happened: On Sunday, the artist told his 19.4 million Twitter followers to “Buy Low…Stay High!!”
cryptocurrency investor Antoine Pompliano called Dogg a “legend” in response.
— Pump (@APompliano) January 23, 2022
Snoop’s post has been retweeted 18,400 times and garnered over 94,000 likes at press time. The artist has also garnered a lot of traction on r/Dogecoin – a Reddit forum dedicated to discussing the meme coin.
Reddit user ToffielMia said, “This guy really knows how to stay high. I think we should all listen to him.
User Sorry_Anxiety6424 said: “He’s right, if no one sells the price all stay high!”
Some posters on social media have commented on the difficulties of adopting a relaxing approach.
I wish I could buy low but I couldn’t get into a good low project. So many of these projects are above 0.1 eth, it’s hard for the average person to get in
—KT (@KT01) January 23, 2022
Apache2005 commented to r/Dogecoin, “He’s also such an easy-to-tell millionaire for him.”
See also: How to Buy Dogecoin (DOGE)
Why is this important: Snoop Dogg is among the growing legion of celebrities who own non-fungible tokens. He has a full set of The Bored Ape Yacht Club collection. It also has coins from the range of NFT Cryptopunks, Artblocks and XCOPY.
During the week, the total cryptocurrency market capitalization fell from $2.04 trillion to $1.63 trillion, a drop of almost 20.1%.
Ethereum (CRYPTO:ETH), the network on which a vast majority of non-fungible tokens are hosted, saw its namesake token drop 25.67% over a seven-day period. At press time, ETH was trading up 1.7% over 24 hours at $2,455.36.
Meanwhile, DOGE, a meme piece that Snoop Dog supported in February by tweeting a meme alongside Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk last year, fell almost 19.4% over the week. At press time, DOGE was trading up 2.3% at $0.14.
Read more : Awkward: What if Dragons Hoard Cryptos Like Dogecoin or NFTs Instead of Gold?
Photo: Courtesy of Jørund Føreland Pedersen via Wikipedia