Influencers across the world from all social media platforms are helping DOGE fight its way to the top. But how exactly are they doing it? Let’s see more in our DOGEcoin news today.
Dogecoin’s price spiked $0.35 and marked a 12% increase in the past 24hours as social media influencers across the world continue to show their support for the coin. DOGE is a cryptocurrency that was initially created as a joke but now has a market cap of almost $46 billion and made it to become the sixth biggest cryptocurrency. It recorded a weekly jump of 24.5% which made it the second best-performing cryptocurrency behind BCH that recorded gains of 24.8%.
I’ve said it before and I’ll say it again, $DOGE to $1.00 and there’s nothing you can do to stop it.
— K A L E O (@CryptoKaleo) May 1, 2021
Coinciding with the latest price rise was a series of DOGE endorsing tweets by WSB Chairman as well as Elon Musk. The WSB users became extremely popular when it tweeted asking whether DOGE has even been to a dollar:
“I’ve been thinking a lot about Doge. The community is so strong, there is no way this shit doesn’t become recognized as a legitimate cryptocurrency in the future. Name one other crypto that has united all types of people like Doge.”
— Remy 💥😃 (@GoRemy) April 29, 2021
Mark Cuban on the other hand, also was quite vocal about the DOGE potential and said that his NBA Team Dallas Mavericks will keep 112,000 DOGE on its balance sheet. Cuban said that:
“Although Dogecoin is not the best investment, it is preferable to invest in the asset than to play the lottery; it is also a way in which you can learn to use cryptocurrencies.”
The entrepreneur believes that the coin’s price has been hampered by the withdrawal restrictions on the Commission free-trading app Robinhood which is a popular way to buy the coin. This is very common for large financial institutions because it prevents users from getting in trouble with law enforcement over money laundering. PayPal does the same.
Doge Barking at the Moon pic.twitter.com/QFB81D7zOL
— Elon Musk (@elonmusk) April 15, 2021
Robinhood said it will offer a crypto-wallet as fast as possible which will allow customers to withdraw doge to their own wallets. The DOGE first major spike was back in January when the Dogecoin army or the fans of the coin coordinated their efforts to pump the price in a similar fashion to the GameStop success from the Reddit Forum r/Wallstreetbets. They started buying DOGEcoin frantically and the coin’s price hit a high of $0.045, marking a 66% increase.
Another major attempt happened this month as well when the price increased 22% to $0.42 after Elon Musk tweeted a picture captioned “Doge Barking At the Moon.”
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