- Two weeks ago, fans of Dogecoin (which was created as a parody coin in 2013) attempted to push the value of the surging crypto to $1 on April 20, which came to be known as “Doge day.”
- Dogecoin’s rally began after a series of somewhat cryptic tweets from Tesla Inc. TSLA, -1.31% and SpaceX Chief Executive Elon Musk.
- #dogecoin has rocketed 10,694% in the first five months of this year alone. In other words, $1,000 Invested in Dogecoin at the beginning of the year would be worth nearly $100,000.
Mark DeCambre from MarketWatch writes:
“Dogecoin prices are making a fresh run, pushing the popular crypto to an all-time high above 50 cents, as enthusiasm for the hottest digital asset on the planet refuses to abate.
At last check, dogecoin prices DOGEUSD, 36.59% were at 54 cents, up 37%, driving the virtual currency to a market value at around $70 billion, according to CoinDesk and CoinMarketCap.com.
Dogecoin has soared a mind-numbing 10,694% in the first five months of the year alone.
Put another way, $1,000 Invested in dogecoin at the start of the year would be worth nearly $100,000, based on MarketWatch’s calculation of a starting price of 0.005405 cent for dogecoin at the start of 2021 and its current trading price.
Musk will host “Saturday Night Live” this weekend, which has already drawn cheers and jeers for the technologist. However, dogecoin may be drawing some support from one of the biggest boosters of the asset that competes with bitcoin and other digital assets.
Perhaps adding some support to dogecoin’s rally, crypto exchange Gemini announced trading and custody support for the coin. Trading platform eToro also made dogecoin available for trading on its platform.
Two weeks ago, fans of dogecoin, which was created as a parody coin in 2013, aimed to push the value of the surging crypto to $1 on April 20, which came to be known as “Doge day…”
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