Dogecoin surges to new all-time high following Gemini listing |
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The Dogecoin (DOGE) price has risen significantly over the past 24 hours, rising from $0.0069 to $0.0089 (a 27% increase) in the past day. The cryptocurrency rose to an all-time high of $0.009 on December 12, 2017, according to CoinMarketCap. The cryptocurrency’s rise has been attributed to the announcement that the Gemini cryptocurrency exchange would begin offering trading pairs with USD, BTC, and ETH.
Dogecoin’s price surged to a new all-time high today, rising more than 30% in less than 24 hours. The move comes amid news that the alternative cryptocurrency will be listed on Gemini, the New York-based cryptocurrency exchange owned by twin brothers Cameron and Tyler Winklevoss.
Crypto meme Dogecoin (DOGE) is on the rise again today, with its price hitting a new all-time high of $0.59 in a listing on crypto currency exchange Gemini.
According to the data, DOGE is currently trading at about $0.53, up 30% on the day and up about 100% over the past seven days. Moreover, this sudden growth has propelled Dogecoin into the 4th largest digital asset in terms of market capitalization, just behind Bitcoin, Ethereum and Binance Coin.
Top five cryptocurrencies by market capitalization. Source: CoinGecko
Seriously, $DOGE, what are you doing? The price of #Dogecoin has increased by 30% in 24 hours, crossing the 50 cent mark, and is now the 4th highest price in the world. Crypto asset by market cap, IntoTheBlock, a data analytics company, tweeted today, adding: A $1,000 investment in DOGE on January 1, 2021 would be worth $115,576 today. What is this level of speculation?
Seriously, $DOGE, what are you doing? The price of #Dogecoin jumped 30% in 24 hours, crossing the 50 cent mark and becoming the 4th highest price in the world. Crypto assets by market capitalization
If you’re on the 1st. If $1,000 is invested in DOGE in January 2021, it would be worth $115,576 today.
How about a measure of speculation? pic.twitter.com/Mhpisd5Piy
– IntoTheBlock (@intotheblock) 4. May 2021
While this only accounts for a third of DOGE’s weekly growth, the recent surge somehow coincided with cryptocurrency exchange Gemini’s announcement that it is now taking over the trading and storage of the currency.
Deposits are now open for $DOGE. Stay tuned for our news feed! Gemini, the company run by the famous billionaire Winklevoss twins, tweeted today.
Deposits are now open for $DOGE. Keep following our feed for updates!
Read more in our blog: https://t.co/kS2B2y4tQr pic.twitter.com/J4TgNrTBhI
– Gemini (@Gemini) 4. May 2021
Meanwhile, crypto-currency trading platform Robinhood reported that it experienced problems trading cryptocurrencies about an hour after Gemini’s announcement and the subsequent rise of DOGE.
We are currently having problems trading crypto-currencies. We are working to resolve this issue as soon as possible. For the latest updates, visit https://t.co/ZS733G6N1J.
– Help Robin Hood (@AskRobinhood) 4. May 2021
Everyone join us
Several major companies also decided to jump on the DOGE hype train today and posted numerous tweets about the cryptocurrency fangirl.
Wag your tail for this DOGE crypto-currency. @SlimJim like to share with #DogeArmy #PupweiserContest pic.twitter.com/UTdYtzxfDP
– Budweiser (@budweiserusa) 3. May 2021
Maybe we should just #DogecoinToTheMoon, Snickers tweeted. PUPWEISER TO THE MOON, Budweiser announced, adding: Wag your tail for the dog DOGE crypto-currency.
Surprisingly, Tesla and SpaceX CEO Elon Musk, perhaps the most outspoken proponent of dogecoin, kept quiet today amid the market’s excitement (although, to be fair, he hasn’t tweeted anything since May 2).
However, it seems that DOGE’s flag has already been taken over by other large companies.
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Frequently Asked Questions
Will Dogecoin reach $100?
What is Dogecoin? In 2013, programmer Billy Markus from Portland, Oregon, wanted to make a cryptocurrency that could reach a broader demographic than Bitcoin. To do this, he used a popular meme to brand it: Doge. The Dogecoin community consists of a vibrant collection of Shibes who love the original Shiba Inu dog from the “Doge” Internet meme. (What is Dogecoin?) The introduction of Jackson Palmer to the Dogecoin community was met with enthusiasm and positivity. The Dogecoin price has skyrocketed in the last few days, but is it just a pump-and-dump scheme, or is there more to it? Let’s take a look at the currency’s price history in chart form. As always, all prices are from CoinMarketCap.com. (If you’re interested in cryptocurrency trading, check out our sister site, Investopedia Crypto .) More than a currency? For those that don’t know, Dogecoin is a cryptocurrency that was created in December 2013. It was modeled on the popular Doge meme, which features a Shiba Inu dog and was popularized on the Dogecoin subreddit. The currency has a very
Why is Dogecoin surging?
The price of Dogecoin has surged over the last few days. Many people have been wondering why, so we contacted a prominent developer to find out. According to Charlie, this is due to the recent price drop of Ethereum. Many traders are switching from Ethereum to Dogecoin. Their logic is that while Ethereum is down, Dogecoin can only go up. Dogecoin, a cryptocurrency based on the popular Internet meme of the same name, has seen a lot of growth over the past couple of days. What makes that even more impressive is the fact that Dogecoin is one of the oldest cryptocurrencies out there—not exactly a fresh face. But despite its age, the coin has actually done fairly well over the years, which is why it has attracted a lot of interest from those who are looking for a new kind of currency.
What will Dogecoin be worth in 2030?
Dogecoin was created as a fun cryptocurrency, but that doesn’t mean that it can’t be taken seriously. The currency has been on a wild ride over the last few years, and it’s seen a lot of growth and a lot of controversy. There are many ways to value a cryptocurrency, such as market cap, circulation and volume, and we’ll look at each of these. Cryptocurrencies are speculative investments and involve high risks—you should be prepared to lose your entire investment, so only invest money you can afford to lose. While there are plenty of ways to make money in the cryptocurrency market , investing in Dogecoin is a surprisingly safe way to grow your money. The meme-based cryptocurrency was started as a joke, but quickly became popular for its low price and fast transactions. Since then, Dogecoin has been used to raise awareness for a number of charitable causes, including the Jamaican Olympic bobsled team and clean drinking water in Kenya.
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