Dogecoin is high on Elon’s tweets, and it’s been surging every day. On 4th May, the price of the currency increased by 50%, and today, it made an ATH of $0.697. That’s a funny number but what’s even funnier is that the meme currency that was worth more than FORD a few weeks back is now also worth more than General Motors.
— ZappityZuSu (@ZappityS) May 5, 2021
Is $1 coming soon? probably sooner than expected. If Elon makes a few right statements on 8th May in the SNL, I will say even $2 is on the charts. But this huge price surge with almost minor to no correction means if Dogecoin falls, it will fall high on heels.
What’s changed for Doge in the last week?
Elon talking about the SNL was one of the biggest news that made Doge pump. Note that the price of Dogecoin was also affected by the fact that many notable personalities are talking about it. Budweiser and Snickers have posted their own Doge-related products on Twitter, even though in a joking way. At the same time, Mark Cuban, owner of Dallas Mavericks, has constantly talked about Doge and accepts it in his online store.
The trading volume of Doge was so high that even exchanges crashed, not being able to keep up with the traffic. And not small exchanges; I am talking about Robinhood, WazirX, and Coinswitch. All these apps are quite popular in their respective regions.
With the recent price rise of Dogecoin, it has also replaced XRP to be the 2nd largest cryptocurrency globally. And this change has got quite a mixed response from many influential personalities. Here is a tweet from Simon Dedic to explain to you what I mean.
Replacing the bad with the worse.
— Simon Dedic (@scoinaldo) May 4, 2021
What are your thoughts on the recent price increase of Dogecoin? Have you invested in the same, if yes at which price? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.