DOGECOIN TO REACH 1$
Amid the current crashing downward trend in the crypto market, Dogecoin is still in green with 20% gains as the strongest coin of them all
Dogecoin, one of the favorite coins of Elon Musk, has been the talk of the town since last week. The reason? Its phenomenal 400% price gain, which stumped everyone. What is even more impressive about Dogecoin’s growth is that it is the only cryptocurrency holding strong against the crypto market-wide price crash.
No one expected such a jump from Dogecoin out-of-blue. So, how did it all begin? Well, with a tweet from Elon Musk. I guess you must already have known it now as it is not the first time Mr. Musk’s tweet has got Doge’s prices to do a high jump.
The Current Market Situation
The Crypto market is in the red today, with almost every major cryptocurrency losing its value. Dogecoin, on the other hand, stands firmly with over 20% gains in the last 24 hours. It is among the only few leading cryptocurrencies to grow in this short-term market meltdown today.
The reason is none other than its community as they believe that Dogecoin is the People’s money. Ask Robinhood – Its trading system crashed again as a flurry of people bought Dogecoin in the last few days. Holding amid such an unstable market is keeping Dogecoin stable.
Is Dogecoin on its way to $1?
The current signs strongly indicate that Dogecoin will touch $1. That’s what even Billy Marcus, Dogecoin’s founder, believes. At the time of writing, Dogecoin’s price is above $0.30. Billy in his email to Newsweek said Dogecoin has high chances to touch $1 as the prices are decided by the market:
“If the world collectively decides they are willing to purchase it for a dollar, then it’s worth a dollar. In the world of cryptocurrency valuations, I would say, historically, the question is less about ‘why?’ and more about ‘why not?”
Regardless of what may have led to the beginning of Dogecoin’s price increase, we can agree to the fact that Dogecoin is here to stay. The price gain, though sudden, is not a fluke as the Dogecoin community is standing firmly behind it.