Dogecoin is a cryptocurrency that is built on the “Doge” meme that became common in late 2013. It all began as a joke. Dogecoin is now worth $40 billion, trying to defy all expectations, and its price has increased by 400 percent in the last seven days.
Over the last few weeks, Dogecoin has seen a variety of movements. Following a rise in the first half of April, the meme cryptocurrency has seen a drop in the last week.
The cryptocurrency’s market capitalization surged too far more than $50 billion earlier this week-dogecoin news, setting a new high. According to coinmarketcap.com, the market cap fell by around $45 billion as a result of the downturn. With a market capitalization of more than $1 trillion, Bitcoin continues the most successful cryptocurrency. The Shiba Inu dog is featured prominently in Dogecoin’s logo. In reality, it began as a joke and became mostly an internet phenomenon before gaining traction at the beginning of this year. The rapidly increasing price of Dogecoin has sparked fears of a cryptocurrency market bubble.
Why is Dogecoin gaining popularity?
There’s the Coinbase listing, for starters. The most famous virtual currency exchange in the United States went public on Wednesday, briefly reaching a market cap of $100 billion in a milestone for cryptocurrencies. The enthusiasm surrounding Coinbase’s launch caused bitcoin and ether prices to skyrocket.
On Thursday, bitcoin reached a new high of over $64,000, while ether briefly surpassed $2,500 for the first time on Friday morning. Dogecoin has also not been resistant to the frenzy of interest in digital assets.
Trade dogecoin- became a millionaire in 2 months
After the beginning of 2021, Dogecoin has been the hottest cryptocurrency, providing investors with exponential returns. A 33-year-old Los Angeles resident has already shared his experience, stating that on April 15, he became a Dogecoin millionaire. In a YouTube video,
GlauberContessoto admitted that he invested approximately $180,000 in Dogecoin once the price was around $0.045 in February.
It’s no wonder that Tesla CEO Elon Musk, who has been tweeting about Dogecoin for the past few months, inspired Contessoto to invest in this digital currency. The value of Dogecoin has risen as a result of Musk’s tweets.
Contessoto, who serves in the music industry, said Elon Musk, was a major influence on his decision. In his YouTube video, he said that Elon Musk owned around a third of all Dogecoins in circulation. And he claims Dogecoin news has a lot of potentials and will help him create wealth for his family. He took a big risk by purchasing Dogecoin at https://www.webull.com/quote/ccc-dogeusd with all of his earnings and sales from Tesla and Uber stock, as well as investing on margin through Robinhood.