The meme currency “DogeCoin” is still making splashing highlights on the trade market, being pushed by popular forums on Reddit. Users have been pumping the value as of late, holding sales and through many social media platforms, have been attempting to “push it to the moon and beyond.” Even Telegram has been getting attention via DogeCoin, as social media all across the internet debates about the coin’s true value, and if it will really last.
“To the moon!”
The popular Reddit forum r/SatoshiStreetBests, has promoted the trade of DogeCoin, and recommends the pump of the oddly named currency. The group desires to change the crypto-market entirely through DogeCoin’s success. Many from the forum have even claimed that this coin will be the next GME. Right there next to r/SatoshiStreetBets, r/CryptoCurrency has also encouraged buyers to continue pumping the meme-coin’s value.
Before all this attention, DogeCoin was created as a joke. Its founders wanted to have a digital currency that is more funnily named, and so the coin named after the reoccurring Doge meme became what we know now as DogeCoin. Jackson Palmer and Billy Markus launched the currency in 2013. The logo of the currency shows a Shiba Inu dog from a viral meme of the day. Much of the popularity related to DogeCoin relates not only to the meme, but to the combined popularity and boredom of Reddit users.
Where is DogeCoin headed?
The cryptocurrency rose approximately 800% in the last week of this January 2021. It managed to hit an intraday high of $0.0779 last Thursday. If the rabid Redditors continue to pump this currency to its full potential, this DogeCoin may reach $1 quite sooner than most people think. However, many believe this result to be unlikely, The currency is largely an inflationary asset, making mining of it easy, in addition to its already gigantic supply.
As of this time of writing, DogeCoin sits at about $0.0422. The price has been rising steadily by more or less 28.8% every 24 hours. It continues, and is predicted, to rise by this amount for at least a few more days. The current total market capitalization is $5,281,390,90, which is also an increment gained in the last 24 hours. If analysis is to be considered true, and if it were to keep going in this exact manner, DogeCoin could reach anywhere from $2 to $5 in the next coming months.