Dogecoin price: Why is the DOGE suddenly up 80 percent?
What caused the DOGE price to rise?
Dogecoin (Doge),a cryptocurrency known on the market as the “joke coin”, experienced an 80% increase in one day, and with it, DOGE trading volume also increased by 800%.
Doge's target is $ 1?
Within hours, the DOGE raised its price from $ 0.0072 to $ 0.0150, according to data from CoinMarketCap and TradingView. Within hours on Thursday, the DOGE had experienced an 80% increase before the pair made a correction. It is also still trading above 1 cent support.
Social media interest has seen a similar increase with the rise of doge, with shares of Dogecoin on Twitter rising by 300%. So, why did the DOGE suddenly rise?
Why did the DOGE rise?
It seems a Reddit group is behind Doge's rise. The Reddit group recently triggered a dramatic but highly controversial bull run in the stock price of US electronics firm GameStop.
An imitation account thought to be the moderator account of R / wallstreetbets posted via Twitter, “has the DOGE ever been $ 1?"and the DOGE price went flying.
Later, the hashtags #dogecoin and #dogecoininto1dollar began trending among users in the United States, referencing a long-standing dream among altcoin investors.
GameStop and Dogecoin
In fact, there is a similarity between GameStop and Dogecoin. Both are the subject of tweets from Elon Musk, the richest person in the world, and then there are serious price hikes.
Dogecoin's price has gone up several times before because of Elon Musk's Twitter shares. GameStop also experienced a similar increase yesterday.
Detailed information about the DOGE, which was released as a joke coin but then had large price movements, said: "What is Dogecoin?"you can find it in our text.