Altcoin News

Dogecoin (DOGE) continued its rapid ascension on Tuesd, as the coin price for the world’s most beloved meme coin crossed the $0.50 barrier for the first time.

On Tuesday, the value of Dogecoin climbed from $0.389421 to $0.541900 — a 39% increase — which marked a new all-time high for DOGE.

Buoyed by a listing on United Kingdom-based cryptocurrency exchange eToro and a pending television debut on Saturday Night Live, Dogecoin continues to confound observers who took the coin as its creator intended — i.e., a joke.

But Dogecoin is turning out to be one of the most profitable jokes in the cryptocurrency space, as evidenced by its miraculous surge since the start of the year.

On Jan. 1, Dogecoin was valued at less than one cent. Just over four months — and 10,922% growth later — the coin is now valued at just over half a dollar.

The rapidity of Dogecoin’s growth should perhaps be a sign of warning to would-be investors, given the coin’s 50% price drop as recently as mid-April. Similar volatility was observed in February, when one tweet from Elon Musk appeared to undo nearly 25% of Dogecoin’s growth in a matter of hours.

Products You May Like

Articles You May Like

New Peer to Peer Exchange Provides Africans with an Alternative to Paxful
Binance CEO warns of CBDC drawbacks as digital dollar pilots proceed in US
I Bought Bitcoin in 2018 for $14,000 and I just sold it… Here Is Why.
Iran Warns Crypto Investors Amid Ban on Bitcoin Mined Outside Its Borders
Will I Invest In Ethereum? Is Bitcoin In Trouble? Michael Saylor Keeps It Real (Ethereum News 2021)
Final BIG Leg for Bitcoin About to Begin? | Investing Strategy – May 2021

Leave a Reply

Your email address will not be published. Required fields are marked *