Doge crypto that originated from meme trends has seen many ups and downs since the start of the year 2021. With Elon Musks’ tweets, Dogecoin going up is common now. But in the past 24 hrs, it had a huge surge due to more reasons. Read the following articles to know the reason-
At the time of writing this article, Doge Crypto’s price was $0.4301 USD with an increment of 32.04% in the last 24 hrs. Additionally, it ranked 5th on the crypto chart. The live market Cap of Dogecoin is $55 billion USD. Fully Diluted Market Cap of $55,845,569,530.71 with a percent increase of 13.52% in last 24 hrs. 1,29,85,43,96,862 DOGE coins are in circulating supply at this point of time in the market. It is currently dominating 3.36% of the market. This data clearly depicts how the prices of Crypto have increased in the past few hours.
Reason for Dogecoin Going Up
Firstly we will discuss the foremost reason for the prices of Dogecoin Going Up and that is adding up on US exchange Coinbase. The crypto got listed on the exchange platform on June 1st. However, the coin would be available to trade on Coinbase Pro from Thursday, June 3rd, 2021. Coinbase Pro is made for professional traders so from June 3rd only professional traders can trade Doge currency from or after 9 pm Pacific time. While the exchange has said it will soon announce trading of dogecoin on Coinbase.com. Basically, for all traders on its primary website and consumer app. It is likely that Doge would be listed with five trading pairs for tokens against BTC, EUR, GBP, USD, and USDT.
The second reason for the prices of Dogecoin going up is as always Elon Musk. His tweets have always favored the doge crypto. Recently he retweeted one of his tweets regarding Dogecoin. The tweet surely depicts that it would rule the global financial system in the coming days. Because he wrote It’s inevitable in the caption of the meme. Seeing him promoting dogecoin. Investors are more attracted to this crypto because they theorize it has much power to rise. As only with its listings on Coinbase pro it has surged to 35-40% in just a few hours.
Daymark Also Interested in Dogecoin
A Canadian Company Daymark is the Competitor of Tesla in Light electric vehicle maker. It has announced Spiritus a car that would mint Bitcoin and Dogecoin while its park by 2023. These investments in technologies regarding it have also created a buzz among the investors leading to prices of Dogecoin going up. Also, news about Dogecoin Music Festival is airing. The Doge community is planning to have a music festival with people who support dogecoin. They are planning to invite Elon Musk, Mark Cuban, and rapper Snoop Dogg to the event. The dates and venue aren’t decided yet but Elon Musk has hinted that this event sounds fun to him by his tweets.
All these events going in the market have given hopes to the traders in investing in this cryptocurrency and hence prices of Dogecoin going up.
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