The meme-based crypto is again on everybody’s lips and the reason is quite understandable. Dogecoin is going up after being trading around 30 cents since last month. The said crypto has shown a surge of 20% from the very start of June. At the time of writing this piece, Dogecoin is trading at $ 0.4408 showing a growth of 20.32 % in the last 24 hours. So, let’s dig up the reason behind this sudden change of price which will be followed by the Dogecoin Price Prediction for 4th June 2021.
Reason for the surge
Crypto Market was witnessing a decline with several cryptocurrencies falling to half of their price. In this period, Dogecoin has emerged as the alpha male. It has shown good growth since the start of this month. Basically, there are two reasons for this sudden surge in prices.
Firstly, Coinbase, one of the biggest crypto exchanges across the globe announced on 1st June 2021 that it will be listing the meme-based cryptocurrency Dogecoin on their platform. This news just opened up a ton of opportunities for Coinbase users to invest in Dogecoin. This news created a sort of excitement among the traders of this crypto and hence, the coin shown tremendous growth in the time when other major cryptocurrencies are falling to the ground.
Secondly, Elon Musk did a tweet about Dogecoin. Yes, it’s Elon Musk again. In his tweet, he shared a picture of Dogecoin and wrote, “Found this pic of me as a child”. The SpaceX owner is the biggest reason that Dogecoin is not a joke anymore. He has publically shown his support to this cryptocurrency and is the main reason behind every previous surge in the said crypto. It will be interesting to look at the Dogecoin Price prediction for 4th June.
Dogecoin Price Prediction
We are not looking at any distant future but the immediate future that is 4th June 2021. Interestingly no major digital financial platform has done Dogecoin Price Prediction for the above date but if financial advisors to be believed, dogecoin will keep on going up only for days as the crypto will soon lose momentum.
It is never easy to do any price prediction in the case of cryptocurrencies. And It is always advisable to make predictions with salt and do your own research before investing in any cryptocurrency.
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