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why has dogecoin risen - Dogecoin’s price has risen more than 100-times faster than bitcoin’s in 2021 - here’s why
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Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention
Will Dogecoin continue to rise?
Dogecoin’s price has risen more than 100-times faster than bitcoin’s in 2021 - here’s why
DogeCoin almost hit 70 cents: What's behind the latest surge
From Bitcoin to Dogecoin: What’s Driving Cryptocurrencies’ Rise and the Challenges Ahead

 

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Will Dogecoin continue to rise?

At last check, dogecoin DOGEUSD, +% was changing hands at 67 cents, up about 37% in the past 24 hours and up around 14,% so far.
Dogecoin's rise comes on the back of the boom in bitcoin that has lifted the value of the original digital currency to more than $50,, coming.
For anyone who still thinks Dogecoin is a joke, there are some 90 billion reasons that say it's not.
"Dogecoin is a community driven cryptocurrency at the moment and the value is being determined by power and influence on social media by.
A finance professor at the University of Sussex Business School said Dogecoin will rise and continue to spike.
Dogecoin's price has risen more than times faster than bitcoin's in - here's why. Crypto market analysts predict gains for 'original meme.
It now has a market.
It increased by % in a hour period (14 April), according to CoinBase - an American website specialising in cryptocurrencies, to further.
Cryptocurrencies such as bitcoin, ether and dogecoin have surged to highs that few investors would have predicted a year ago.
DogeCoin started as a joke cryptocurrencies, but this week's rise in price is nothing to laugh at. The altcoin hit a record 69 cents.

Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention

It is perhaps the ultimate symbol of late capitalism: a digital currency that started as a joke, now worth more than the Ford motor company, BP or Tesco. Riding a wave of speculative interest despite Covid-19 triggering the worst global recession since the 1930s Great Depression, Dogecoin has been a huge hit with amateur investors. It is a cryptocurrency based on an internet meme — a humorous online phrase or photo, which on this occasion is a dog — and has shot to wider attention with a record-breaking rise in value in recent weeks. He has previously tweeted support for Dogecoin in what may be best understood as the perpetuation of an online joke. Similar to internet-fuelled speculation in GameStop, the surge in Dogecoin comes as the US government sends out its third round of emergency Covid-19 payments to eligible American households. Although intended as support for struggling households, economists say this has helped to fuel a rise in stock markets and crypto assets such as bitcoin and Dogecoin, as more affluent recipients put their cheques into financial investments. Expectations are rising that stronger economic growth will take hold as the Covid vaccine enables a faster return to normal, at a time when government and central bank support remains high. Economists warn this would lead to a rise in inflation, which would erode the value of fiat money, making digital currencies a potentially attractive proposition. However, analysts warn that it could quickly unravel because the digital currency has no intrinsic value; relying on investment hype, speculation, and fear of missing out. A physical representation of a Dogecoin. The digital currency is based on the Doge meme, which features a Japanese shiba inu dog surrounded by grammatically incorrect phrases. Photograph: Getty Images. Richard Partington economics correspondent. Wed 5 May 2021 19. Reuse this content.
To learn more or opt-out, read our Cookie Policy. Carol Alexander , a finance professor at the University of Sussex Business School in England, has made a bold prediction — Dogecoin will continue to rise. But she hopes it will return to its origins. Alexander told Yahoo! Alexander can still see the cryptocurrency rising high — but it needs to get back to its roots, too. Print Subscriptions. Deseret News homepage. Filed under: U. Will Dogecoin continue to rise? Reddit Pocket Email Linkedin. Predictions on Dogecoin Alexander told Yahoo! Will Dogecoin rise more? Next Up In U. What happens now? Could Shiba Inu coin double in value? Loading comments... The Latest. Memphis Grizzlies bow out of series with a lackluster effort in Game 5, but say they will be back By Jay Drew. By Herb Scribner.
A resurgent cryptocurrency market in 2021 has seen bitcoin , ethereum , cardano and others all see substantial price gains in recent months — but none come anywhere close to dogecoin. This represented an increase of more than 10,000 per cent since 1 January. By contrast, bitcoin has seen gains of roughly 85 per cent over that same time period. Even the huge 300-600 per cent price rises seen by ethereum, cardano and ripple seem remarkably modest by comparison. These massive gains are not a result of any technological advantage it holds over its rivals. Instead, it can be attributed to its peculiar origin , and the meme-loving community that grew around it. In its market report for April , cryptocurrency exchange Kraken recorded a record monthly volatility reading of 442 per cent for dogecoin. Its price could be pumped even further this week by the appearance of Elon Musk on Saturday Night Live , with dogecoin investors hopeful that the meme-loving entrepreneur will either mention the cryptocurrency in his opening monologue, or reference it in a comedy skit. The price has spiked each time he has spoken about it, though Professor Alexander warned that his hopes for the cryptocurrency are unlikely to ever be fulfilled. Etherum and other platform coins like cardano are the currency of the internet. Join thought-provoking conversations, follow other Independent readers and see their replies. Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today. View more. More about cryptocurrency dogecoin bitcoin Ethereum ripple. Forgotten your password? Want an ad-free experience? Subscribe to Independent Premium. View offers.
In January, crypto traders fantasized about DogeCoin hitting 10 cents. On Wednesday, it made it to 69 cents. DogeCoin started as a joke cryptocurrencies , but this week's rise in price is nothing to laugh at. The altcoin hit a record 69 cents Wednesday morning, flying past its previous high of 43 cents back in April. It has since made its way down to around 55 cents. Even if DogeCoin was only briefly over 60 cents, it's still a new milestone in DogeCoin's miraculous 2021. 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. The spike in DogeCoin trading seems to have caused issues for the Robinhood investing app, which said it was experiencing issues with cryptocurrency trading , likely due to the demand. Update: Crypto trading is now fully restored. We know some customers may have experienced intermittent issues earlier. Please contact us if you have outstanding issues. If you're familiar with cryptocurrency , you know Bitcoin and maybe Ethereum. Those are the two biggest cryptocurrencies, but underneath them is an entire market of smaller ones called "altcoins" -- or, sometimes, "shitcoins. Many aim or claim to have utility, or improve facets of the Ethereum blockchain, upon which most altcoins are built. Others are "memecoins," which rise and fall in popularity simply because they're kind of funny. Created in 2013, DogeCoin was the first such memecoin. There are many others, and they're preposterous. DogeCoin almost hit 70 cents: What's behind the latest surge In January, crypto traders fantasized about DogeCoin hitting 10 cents. Daniel Van Boom , Oscar Gonzalez. May 5, 2021 9:10 a. Enlarge Image.
Cryptocurrencies such as ether and dogecoin have surged to highs that few investors would have predicted a year ago. The furious run has even the most optimistic traders asking: Can it last? The forces underpinning the crypto mania mirror those that saw GameStop Corp. Meanwhile, people globally have spent more time at home and in front of screens as the pandemic shut businesses. Limitations on stock trading by brokerage firms earlier in the year might have pushed some Reddit day traders to crypto, investors say. Tesla Inc. The craze in NFTs, or nonfungible tokens, has led to a burst of activity on Ethereum , the blockchain-based computer network that backs most NFTs. Ether, the in-house currency on the platform, has risen to record levels as more people adopt the technology. NFTs are bitcoin-like tokens connected to a digital work of art or other real-world item and sold as a unique digital property. In a year when individual investors have used social media to send asset prices soaring, no move in digital-currency markets has defined the power of memes more than the rise of dogecoin. Skip to Main Content Skip to Search. Vigna wsj. The Power of Social Media In a year when individual investors have used social media to send asset prices soaring, no move in digital-currency markets has defined the power of memes more than the rise of dogecoin. To Read the Full Story. Subscribe Sign In. Continue reading your article with a WSJ membership.

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Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention

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