The digital currency “Dogecoin” still occupies a large part of the cryptocurrency community’s talk, especially after it rose hours ago to a new record high above $ 0.7, leaving it with only 0.3 to reach the desired $ 1.
The recent move of the digital currency “Dogecoin” made it move away from its nearest chasers in terms of total market value, as the total market value of the “Dogecoin” coin is estimated at $ 92.5 billion, while the currency of Ripple has a total market value of $ 56.2 billion.
Also, little was left for the digital currency "Dogecoin" to catch up with Binance, which has a total market value of $ 97.6 billion.
Reasons for the rise of the digital currency "Dogecoin":
The first and direct reason is the participation of "Elon Musk" on Twitter of many tweets that promise to take the currency to higher levels.
In addition to his presentation, he promised Saturday 8 May to talk about the digital currency “Dogecoin” on “Saturday Night Live”.
It can be said that the year 2021 is at least its first half marked by the strong presence of the digital currency DOGE.
The coin started as a "meme" and a joke in 2013 that traded at about $ 0.005 at the beginning of this year, but its price witnessed an unspeakable rise in the months that followed.
The digital currency "Dogecoin" rebounded after an earlier high of under $ 0.6, but the bulls took over again and pushed it north.
Within hours, the digital currency “Dogecoin” rose more than 22% to its latest record of $ 0.74 (on Bitstamp).
Whereas, according to "coinmarketcap", the currency is currently estimated at $ 0.71 at the time of publishing this article, ie an increase of 15.88 in the last 24 hours and 103% in the last 7 days.
As we mentioned above, there is not much left for the currency to reach the third place in terms of market value, that is, the displacement of the BNB coin and taking its place behind both Bitcoin and Ethereum.
Outside the cryptocurrency industry, the digital currency “Dogecoin” is now larger than “Airbnb”, “Uber”, “General Motors Company”, “Zoom” and “FedEx” ...
It is worth noting and as a note that it must be taken into account that the digital currency “Dogecoin” did not grow and rise naturally, which means that it was pumped to reach what it has reached, meaning that the pumping of the richest man in the world is the one who brought it to its current value and not its project and strength, and it is known that behind every pumping Discharging comes, as caution and caution are required with regard to this currency.
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