DogeCoin Hit 60 Cents: What's Behind the Latest Surge
upstart writes in with an IRC submission:
DogeCoin hit 60 cents: What's behind the latest surge:
DogeCoin started as a parody of cryptocurrencies, but Tuesday's rise in price is no joke. The altcoin hit a record 60 cents on Tuesday, flying past its previous high of 43 cents, though it's now stabalized around 55 cents. [...] Back in January, when each token was worth around 1 cent, Doge devotees had dreams of the coin hitting 10 cents in value.
The price of DogeCoin started ticking up over the weekend. Tesla CEO Elon Musk is Doge's highest-profile supporter, and his tweets related to the cryptocurrency tend to lead to a jump in its value. Musk posted a tweet last week that referenced The Dogefather and his upcoming hosting gig on Saturday Night Live May 8.
Additionally, trading platforms eToro and Gemini listed the memecoin, drastically expanding its reach. eToro alone has 20 million users, who can now easily buy DogeCoin through its platform.
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