Dogecoin Facing Uncertainty in 2022, Crypto Analysts Say

On December 14, dogecoin surged after Elon Musk, Tesla’s  (TSLA) – Get Tesla Inc Report CEO, said the electric-vehicle maker would accept the cryptocurrency for payment.

“Tesla will make some merch buyable with Doge & see how it goes,” tweeted Time Magazine’s 2021 Person of the Year.

Edward Moya, senior market analyst for the Americas with Oanda, noted at the time that “many crypto traders are focusing on which altcoins to bet big on and Musk’s tweet served as a reminder that you can’t forget about doge as some businesses remain committed to using it.”