DOGECOIN is the talk of the town today. Everyone on Twitter, Reddit, Discord, and other crypto social media hubs have been talking about DOGECOIN, including the world’s richest man, Elon Musk.
Till last week, DOGE had been sailing through and accumulating around the 0.007 to 0.008 area. Yesterday, DOGECOIN got a lot of traction. Rather, “lot” is an understatement. This coin, which launched in 2013 as a meme coin, rose by 100% last night and didn’t drop.
But that’s not all. After gaining 100% in the first rally, DOGECOIN pulled a massive candle and increased in price by more than 800% and reached the high price of $0.088. From last week’s trading price of $0.008 to $0.08, the gains for investors in DOGE were over 10X in a week’s time.
Why Did Doge See Such an Exponential Growth?
- This rally was primarily fueled by the Reddit community, which started talking about DOGECOIN going to $1. The largely followed twitter handle WallStreetBets Chairman tweeted about DOGE to the moon, which fueled this rally.
- This was accompanied by a tweet about DOGE from the famous billionaire and world’s richest man, Elon Musk. Elon Musk has been a fan of DOGE, and he tweeted about DOGE being on the cover of a magazine.
- Many TIKTOK users’ favorite coin is DOGE, and they keep on making videos on DOGE coin going to the moon, which has led to a lot of new investors to invest in this coin. TIKTOK celebrity Carole Baskin also spoke about pumping DOGE.
Current Price and Market Cap:
After seeing such a massive rally, a deep correction was expected, and it happened. DOGE fell from the high of $0.082 all the way to $0.035 and is currently trading at $0.040. It is extremely risky to invest in such highly volatile coins.
DOGE’s market cap is $5,271,401,020 and is currently ranked 13 by market cap. It reached in the top 10 coins by market cap when it was trading above $0.08. 24-hour trading volume for DOGE is $23,664,875,854!!!
All we can see for the DOGECOIN army is: Much WOW! When Moon! Such Gain!
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