- Dogecoin fell about 17% after hitting an all-time high yesterday
- Meme-inspired cryptocurrencies surged after becoming available on two more platforms this week
- Next to Doge – Elon Musk’s SNL debut on May 8th
2021 Dogecoin surge
Dogecoin’s price has skyrocketed since April of this year, inspired by the Reddit community and Twitter approval of the self-proclaimed “Dogefather” Elon Musk memecoin.
Doge has gained a lot of momentum since April 28, when Musk tweeted., ‘Dog father. SNL May 8th rekindled interest in coins.
Dogecoin has shown that what started as a fun and easy way to send and receive cryptocurrencies has become a major issue not only in crypto space, but also in the wider financial community. Cryptocurrencies have a market capitalization of about $ 76.75 billion, which is higher than Dell or, interestingly, Coinbase.
Cryptocurrency market capitalization
Dogecoin hits record high
Dogecoin posted a new high yesterday just above the $ 0.69 mark spurred after announcements from eToro and the crypto exchange Gemini. Both will offer Dogecoin to their clients. This latest addition to both platforms is said to be due to the increasing general demand for cryptography.
While Doge has hit new highs, multiple Reddit posts from Doge enthusiasts appear to have a $ 1 mark in their sights. The rising average true range indicator (ATR) shows that the market continues to indicate a period of volatility. In other words, large price fluctuations can continue.
At the time of this writing, Dogecoin prices were pulled back from yesterday’s highs as they headed for Friday and then for Elon Musk’s long-awaited SNL performance.
Doge 4 hour chart
Created chart Richard Snow, Tradingview
— Written by Richard Snow for DailyFX.com
Contact Richard on Twitter to follow us. @RichardSnowFX
Doge drops out of record high, Mask’s SNL debut next
Source link Doge drops out of record high, Mask’s SNL debut next