Crypto News - Dogecoin Price Prediction: [DOGE] Soon Reaching $1? - Bitcoin News

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Crypto News - Dogecoin Price Prediction: [DOGE] Soon Reaching $1? - Bitcoin News

https://www.youtube.com/watch?v=_zfklFodEF4

Do you understand why DogeCoin is rising in price?


DogeCoin reached 69 cents on Wednesday, well above the 10 cents traders anticipated in January.

In spite of DogeCoin's credibility as a joke crypto coin, this week's price increase is no laughing matter. The altcoin struck a record high of 69 cents on Wednesday early morning.

In spite of the unexpected increase in price, it's still another landmark in DogeCoin's magnificent year 2021. In January, when the coin deserved around a cent, Doge enthusiasts looked forward to the coin reaching 10 cents in value.

Over the weekend, the price of DogeCoin began increasing. Tesla CEO Elon Musk is among DogeCoin's most prominent advocates, and his tweets promoting the cryptocurrency tend to cause a boost in its worth. Musk recently discussed his look on May 8 on Saturday Night Live.

The memecoin was also listed on eToro and Gemini, resulting in a significant expansion of its reach. ETORO alone has 20 million users, all of whom can now easily buy DogeCoin from its service.

Robinhood stated cryptocurrency trading was bothersome for the app due to a spike in DogeCoin activity.

The two biggest cryptocurrencies are Bitcoin and Ethereum, however under their hood is a whole host of smaller ones, often called "shitcoins.".

Referred to as altcoins, this class of cryptocurrencies are similar to penny stocks. Lots of desire be more than just a trading possession, or claim to resolve aspects of the Ethereum blockchain - which most altcoins operate on.

Another type is "memecoins," which tend to fluctuate in appeal just because they're funny.

It was DogeCoin that first began the memecoin trend, but today there are numerous imposters. Meme, for example, gone for $1 in August and currently trades at over $2,000.

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