DOGE learns new tricks as Dogecoin price exceeds half a dollar
DOGE learns new tricks as Dogecoin price exceeds half a dollar : Dogecoin (DOGE) continued its meteoric rise on Tuesday, as the world’s most famous meme coin broke through the $0.50 barrier for the first time. Dogecoin’s value jumped from $0.389421 to $0.541900 on Tuesday, a 39 percent rise and a new all-time high for DOGE.
Dogecoin manages to confound observers who took the coin for what its maker meant — a prank — thanks to a listing on the United Kingdom-based cryptocurrency platform eToro and a pending television appearance on Saturday Night Live.
However, as shown by its miraculous rise since the start of the year, Dogecoin is turning out to be one of the most lucrative jokes in the cryptocurrency room.
On January 1, Dogecoin was worth less than a penny. After just over four months and a 10,922 percent increase in value, the coin is now worth just over half a million. Given the coin’s 50% price drop as recently as mid-April, the rapidity of Dogecoin’s rise should serve as a cautionary note to would-be buyers.Similar uncertainty was seen in February, when a single tweet from Elon Musk threatened to reverse nearly 25% of Dogecoin’s rise in just a few hours.
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