Tweets from Elon Musk and celebrities fuel DOGE continuous price growth

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Tweets from Elon Musk and celebrities fuel DOGE continuous price growth

DOGE (Dogecoin) is a cryptocurrency created for the sake of a joke, according to the meme "WOW with a Shiba Inu dog", which became extremely popular in early 2021 due to the WSB hype and the joke of Elon Musk.

How it all started

At the beginning of 2021, the DOGE cryptocurrency was supported by Elon Musk on his Twitter, jokingly saying that he is the CEO of Dogecoin. Since at one time, this cryptocurrency was distributed to almost everyone (children and young people who did not have enough money for real bitcoin), its price on the exchange was around $ 0.003, until moment X came.

At the beginning of 2021, the Reddit community - WSB (Wall Street Bets) decided to pump similarly to GameStop shares and DOGE cryptocurrency, starting to massively buy this cryptocurrency. After the start of the pump, Elon Musk posted on his Twitter which pushed another ~ 40 million subscribers of the richest man on the planet to buy Dogecoin cryptocurrency and as a result increased the coin value by 1045% in 48h. In Ilona's comments, subscribers asked to pump the asset value up to $ 1 for 1 DOGE, which, by the way, was joined by WylsaCom having bought 5000 DOGE on Binance.

Cryptocurrency DOGE (Dogecoin) in 2021

DOGE is the undisputed headliner of the crypto market this week. Recently, the altcoin meme rate has risen by more than 50 percent after "rebellious traders" from the Reddit forum called for buying cryptocurrency, and the founder of Tesla and SpaceX Elon Musk supported it on his Twitter.

Dogecoin has also piqued the interest of rapper Snoop Dogg and Gene Simmons of Kiss. DOGE, created in 2013 by programmers Billy Markus from IBM and Jackson Palmer from Adobe, gained 50 percent of its value in just a few hours on February 4, reaching $ 0.0578. The recent jump follows more than 900 percent gains from January 29, when the altcoin soared to $ 0.0779. At the same time, trading volumes exceeded Bitcoin (BTC).

By February 8, Dogecoin climbed to a record $ 0.0849, overtaking:

· Stellar Lumens (XLM);
· Bitcoin Cash (BCH);
· Chainlink (LINK)

And it became the ninth largest cryptocurrency with a market cap of $ 10.8 billion. On February 9, the altcoin traded at a $ 0.0791.

DOGE cryptocurrency rate in 2021

After the rapid growth of Dogecoin, a regular bloody sale (-74% rollback) began, which lowered the coin price to $ 0.03, after which the rapper Snoop Dogg and Kiss Gene Simmons joined the cryptocurrency, as a result of which on February 7, the price of the cryptocurrency rose again to $ 0.07

Meanwhile, at the beginning of February, the DOGE cryptocurrency:

ü entered the TOP-10 cryptocurrencies by capitalization (₽668,070,963,892);

ü continues to grow rapidly.

Mining DOGE cryptocurrency

Dogecoin cryptocurrency can be mined using the Scrypt algorithm, the easiest way to do this is in the Nice Hash mining pool.

Prospects for DOGE cryptocurrency in 2021

By and large, all the prospects for DOGE cryptocurrency depend on its hype and community support. As soon as they stop talking about it, the asset will be drained as always, this always happens. Our local selling prices are at around $ 0.1 (we will observe further), if the cryptocurrency continues to grow steadily, then we will re-enter with the goal of $ 1 for 1 DOGE. And there will be a posibility to convert doge to btc.

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