The meme-inspired cryptocurrency is still creating buzz on the internet and now the investors and crypto traders have started taking it seriously. #DogecoinToTheMoon again started trending on Twitter on Wednesday, which led to the coin’s value to an all-time high in the market. The coin hit the intraday high of $0.68 and reached the all-time high value on Wednesday in coin’s history.
Dogecoin’s value previously rose in early 2021 and then dipped down at a price of $0.04 – $0.05. However, since April the value drastically surged, leading to cross the 10 cents mark for the first time. And then, the surge never stopped, and now the coin has achieved the fresh all-time high. The coin’s value dumped previously after reaching $0.45 on 16 April, but the value later returned to keep going up.
Memers and unofficial CEO of boosting Dogecoin, Elon Musk are mostly responsible for increasing the coin’s value. Investors and experts never though DOGE as a serious asset since the coin was itself started as a joke in 2013. Billy Markus and Jackson Palmer launched the cryptocurrency as an alternative to Bitcoin (BTC). The coin is inspired from the Doge meme, and features Shibu Ina dog as the coin’s official symbol.
DOGE set to reach $1 mark this week!
The price of the meme-themed cryptocurrency is going up, even at the time of writing this. Dogecoin was trading at only $0.007 in the beginning of the year. But, after GameStop short squeeze influence the crypto market, the coin’s value reached $0.079 in February 2021. The coin then continued to trade at $0.04 – $0.05 until April 16, and then crossed the 10 cents mark and reached $0.45.
As of writing this, the coin is currently trading at $0.61 after falling down from reaching intraday high of $0.68 on Wednesday. The memers and traders are pushing to take the coin to the moon and if Tesla mogul Elon Musk tweets another Doge-related post then, it will certainly reach $1 sometime this week. If you are planning to buy the coin you can start your trade right now as you still have time to profit.
However, investors investing on cryptocurrencies should understand that it comes with high risk. The crypto market is volatile in nature, and it is recommended to research thoroughly before depositing your hard-earned money.