TL;DR Breakdown
• Dogecoin increased in value by 2400 percent since January.
• Doge is trading at $0.24 today versus $0.009 in January.
In the first six months of 2021, Doge became one of the top ten cryptos in the market. This happened because of Elon Musk’s tweets, and thousands of new investors.
Today, Dogecoin rose in the last hours to reach the top rankings of the most popular cryptocurrencies. DOGE ranks fifth among the most traded cryptocurrencies, surpassing $253 billion in the market capitalization. This is good news for Dogecoin investors, and they are confident that it will outperform other cryptocurrencies.
Doge price surged by 480 percent since January 2021
In early January, Dogecoin was an almost unknown cryptocurrency. In February, the token exploded when Elon Musk and Snoop Dogg tweeted their support.
By the end of January, Doge’s crypto price gave it a sixth-place on the market. According to CoinMarketCap, the then DOGE 24-hour trading volume was over $2,29,000. However, the figure rose to $25 million in a few days and amounted to $6 million more in the next weeks.
Dogecoin’s trading volume is between 1 million and 3 million dollars during February and March. With the trading volume surge, DOGE raised his all-time high of $69.4 million in April. However, July figures plunged below $1.3 million.
Dogecoin maintains its price despite the downtrend
With its increasing value, Doge now climbs among the top ten cryptos in the world. The token lines up after BTC, Ether, Tether, Binance Coin, and close to Cardano.
It’s incredible how DOGE rose its price due to Musk and Snoop Dogg, who made some crypto pranks. By January, the token’s price was $0.009, and after the famous tweets, it increased to $0.08. In these months, the cryptocurrency price took off, alongside its credibility.
In May 2021, the crypto reached its historical maximum trading at $0.7. For now, DOGE is trading at $0.23467, down 5.32 percent. However, it still shows a massive increase in its capital compared to how it was priced at the beginning of the year.
According to crypto experts, DOGE increased its price by 2,400 percent, and its popularity in the market by up to 100 percent. CoinMarketCap data also clarifies that DOGE is the third most used cryptocurrency in the market.
The token is traded almost at the same margin as Bitcoin and Ethereum, only that its price is much lower. But people hope that the token will increase its price, and can occupy a more relevant position.
