The currency that began as a parody of cryptocurrencies, in a matter of months, became the ‘pretty girl’ of a market that has been focused by investors as well as future investors.
The recent growth and market capitalization of Dogecoin
The dogecoin surge this May seems to have no brake and Elon Musk’s favorite token has easily surpassed $ 0.7 in a bull run of more than 50% in 24 hours from Tuesday to Wednesday, which exceeds 13000% in 2021 and its market capitalization that has reached over 91.8 Billion. You just have to remember that in January its value was below one cent.
But apart from this, altcoins tokens have also seen their price rise in the last week, it is a clear symptom of what is known as ‘altcoins season’.
Elon Musk’s big hand on the growth of Dogecoin
Its exchange rate has already started to rise over the weekend. Elon Musk, CEO of Tesla, is the most prominent supporter of ‘Doge’, and his tweets related to the cryptocurrency often cause its value to rise.
Musk tweeted last week calling himself the ‘Dogefather’ and referring to his upcoming host performance on Saturday Night Live on May 8. It is expected that he will take advantage of that showcase to mention the cryptocurrency, while all the experts and analysts raise the alarm about how “absurd” it is to operate this asset in which there is clearly a bubble.
Since April, thousands of people have not stopped being infected by the dogecoin fever, spurred by statements by the owner of Tesla, Elon Musk, who on different occasions has sent tweets related to the Dogecoin.
It stopped being a joke! Dogecoin Price rises to all-time highs after being listed on eToro
Dogecoin Stock listed on big trading platforms
The miraculous boom got off the ground on Tuesday, as eToro and Gemini trading platforms began allowing trading with the Dogecoin i.e. meme-based coin, due to its dramatically expanding popularity. Only eToro has 20 million users, who can now easily buy this token through its platform.
How to Invest in Dogecoin 2021
The cryptocurrency meme Dogecoin took by surprise the market over other digital currencies, after reaching a new record this market capitalization of over 91 billion dollars today, with a quote of $ 0.70 (Dogecoin Price as on May 8th).
The dogecoin, inspired by the Japanese dog breed Shiba Inu meme, gained traction after being incorporated into the multi-asset investment platform eToro, because of strong customer demand.
After hitting its all-time high, the cryptocurrency later maintained a market capitalization close to $ 91 billion and a price of $ 0.7, according to the Coinmarketcap portal. The price is fascinating and impulsive, but it cannot be controlled. We can control our actions and behavior though.
Also Read: Cryptocurrencies – Good to invest in 2021?