Dogecoin continues to defy all odds as price nears $0.70
DOGE has just traded at a new all-time high price point of $0.69
- Since the start of the year, Dogecoin’s value has risen by more than 11,000%
- Doge was recently listed by a number of mainstream exchange platforms including eToro and Gemini
- Elon Musk’s scheduled appearance on SNL may help spur the currency’s value even more next week
In typical crypto fashion, DOGE, the native digital currency of the Dogecoin ecosystem, has continued to surge and exceed everyone’s expectations. To put things into perspective, over the course of the last 24 hours, the digital asset’s price has soared by more than 50%. It’s currently sitting at $0.60 after reaching a new all-time high of $0.69.
Even after months of ridicule, DOGE remains on a path of monetary ascent, with the value of a single token rising from $0.35 to $0.69 since the start of May.
Further helping DOGE to surge, the currency was recently listed by United Kingdom-based cryptocurrency exchange eToro. Not only that, a representative for Winklevoss-owned cryptocurrency exchange Gemini released a blog stating that users of the exchange can now buy and sell DOGE via their accounts.
Can DOGE surge even further?
Even though Dogecoin started off as a joke, the currency remains one of the most lucrative investments currently available in the market. This could be because, in the past, a number of high-profile individuals such as Tesla CEO Elon Musk and billionaire investor Mark Cuban have spoken highly about DOGE.
In fact, with Musk all set to host popular sketch show Saturday Night Live next week, it stands to reason Dogecoin will likely continue to attract — and confound — a number of new investors.
Within a matter of just five months, DOGE has grown by more than 11,000%. That said, there are certain warning signs that potential investors should be wary of. For example, last month, the currency’s value swooped and fell by 50% almost overnight, only to once again rise 25% in value after a tweet from Musk just hours after the episode.
Interested in cryptocurrency? Learn more about the basics with our beginner’s guide to Bitcoin, dive deeper by learning about Ethereum and see what blockchain can do with our simple guide to DeFi.
Disclosure: The author owns a range of cryptocurrencies at the time of writing
Picture: Finder
