Dogecoin (DOGE-USD) has been going parabolic recently and is up over 13% in five days. The Dogecoin price is up by a stunning 87.34% this year up to this point. Yet, what could be the reason?
Recent Dogecoin Price
On Saturday the 23rd, Dogecoin’s price hit $0.17 in US dollars before momentarily rectifying downwards, mobilizing again to hit $0.18 on Sunday the 24th – a high for the memecoin that was recently seen on the 14th of March.
Presently, at the hour of composing, the Dogecoin price was sitting at $0.17, representing a 100 percent gain in price over the last month.
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Why Is Dogecoin Surging?
The Coin has rolled out no immense improvements or announcements as of late. However, the sudden surge might have something to do with the recent X tricks of Dogecoin co-founder Billy Markus. On the 24th of March, Markus took to social media to ask Bitcoin to “go to 1 million dollars per coin while I am sleeping”.
This harmless remark created a surge of reposts and likes, which straightforwardly impacted the Dogecoin price in a few hours.
As a matter of fact, as per AMBCrypto, LunarCrush data showed that the digital currency enjoyed over 30 million social interactions within 24 after the statement by Markus.
What Is The Possibility Of Dogecoin Hitting 10$
The fleeting end-of-the-week rise in price for the memecoin has had numerous crypto investors contemplating whether the world’s most notable doge will be valued at $10.
The short response is that it appears to be improbable, sooner rather than later.
Dogecoin might well profit from a ‘rising tide lifts all boats’ situation in front of Bitcoin halving, yet there have been no signs as of late of any news items, new offerings, or new catalysts specific for Dogecoin that could push its price up further.
However, anything can occur in the unpredictable universe of crypto, and investors and merchants ought to constantly do their own research on such matters to decide probabilities for themselves, in light of their own special objectives and areas of concentration in the market.
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