Dogecoin has gained significant value in the last 24 hours after a Reddit group named, SatoshiStreetBets posted optimistic views about the cryptocurrency. SatoshiStreetBets is the crypto version of the famous Reddit group, WallStreetBets. Doge is currently trading near $0.07 with a market cap of around $9 billion.
Dogecoin has been in the news lately due to a famous tweet by the world’s richest person, Elon Musk. The founder of Tesla teased the crypto community with his famous tweet, “One word: Doge.” The cryptocurrency has been on the rise since then but the recent pump by SatoshiStreetBets pushed Doge to the highest level in its history.
Dogecoin is now more valuable than Chainlink, Litecoin, Bitcoin Cash, Stellar, and Uniswap. The cryptocurrency has jumped more than 1,000% since the start of 2020. Doge is now up more than 2,000% as compared to October 2020.
Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>
“DOGE has no boundaries like stocks, anyone can easily buy from crypto exchanges. At my time of writing this, Doge is up 2,400% from where it was 3 months ago, and at an astronomical all-time-high. There are probably thousands of users waiting for their crypto account verification to jump on the hype train. Not only is Doge logistically accessible, but it’s super affordable,” a Reddit user Foreskin posted.
Dogecoin and SatoshiStreetBets
The cryptocurrency is getting popular among retail investors due to the Reddit frenzy. Crypto exchanges around the world are reporting huge demand for Dogecoin. The Reddit group is posting regular updates about the recent developments related to Dogecoin. SatoshiStreetBets community is growing at a rapid pace. Apart from Doge, other cryptocurrencies posted strong gains during the last 24 hours: XRP jumped nearly 10% to reach $0.28; Stellar (XLM) gained more than 25% in a single day to reach $0.32. Further, the world’s largest cryptocurrency Bitcoin is currently trading near $32,500, up nearly 3% in the last 24 hours. Overall, the digital assets now have a market cap of $960 billion.