Dogecoin’s (DOGE) price has jumped by around 25% in the last 24-hours. It has now hit an all-time-hight (ATH) price at US$0.4833. DOGE has been witnessing a steady rise in price for quite some time now. The price rise of DOGE in the last 7-days, 30-days, and 2021 YTD are 75%, 737%, and 8,308% YTD respectively.
With this phenomenal performance, Dogecoin’s market capitalization has reached around US$61.9 billion. This helped DOGE to overtake Tether (USDT) and become the 5th largest cryptocurrency in terms of market cap. In fact, Dogecoin’s market cap is even higher than that of Twitter and Ford.
This recent weeklong rally in the price of DOGE is believed to be due to the fact that crypto-friendly trading platform eToro has announced listing DOGE in the platform. Its integration will help more than 20 million users of the eToro platform to trade the coveted token.
Some also speculate that the ongoing rally may also because of the fact that Tesla CEO Elon Musk’s upcoming appearance at “Saturday Night Live” as the host. Elon Musk has hinted that he will participate in a comedy sketch called “The Dogefather”.
Analyst Kas1a has charted Dogecoin (DOGE) on a 4-hourly chart and concluded that this altcoin is unstoppable. The analyst said that the price trend respects an upwards grind line that was created during the recent dip. The possibility for the DOGE price to hit the US$1 mark is getting more and more plausible.
Benefit from experienced traders with copy trading on NapBots https://NapBots.com 1 week free trial ! Discover more than 20 strategies dedicated to crypto-currencies, on the most liquid pairs (BTC, ETH …).NapBots allow novices to trade crypto easily and help traders save a lot of time! Bots work tirelessly to scan the markets and navigate through volatility to try to capture profitable trends.