The April 18 crypto crack doesn’t affect DOGE. The cryptocurrency is back to historic levels. Its holders are hoping to see its value reach the dollar thanks to a movement launched on social networks.
The last few weeks have been crazy for Dogecoin. However, a pause occurred on April 17. However, the capitalization exceeded the 50 billion dollars for the first time. So the euphoria is over?
Not quite. Monday, April 19 was a day of recovery for the major cryptocurrencies, affected by Bitcoin’s weekend plunge. For DOGE, the beginning of the week seems to be more of a strengthening trend.
On April 20 at 9am, Dogecoin is showing 10% growth over the past 24 hours. The token is clearly marking its difference. Indeed, the main cryptos on the market are showing in the red.
DOGE, on the other hand, is back in the vicinity of its last ATH at $0.40. Elon Musk wanted to send, as a joke, Dogecoin to the moon. It’s already happening today. And the takeoff has been meteoric.
As a result, DOGE surpassed $0.40 for the first time on April 19, registering 400% growth in one week. To illustrate the Dogecoin craze, a few numbers are enough. Recall, for example, that the token was quoted at just $0.07 seven days earlier.
Over a year, the DOGE rocket achieves a growth of over 7500%. This price surge is not without generating high volatility. However, the trend seems bullish and Dogecoin can aim for its ATH ($0.445).
However, investors should watch the day of April 20 very closely. DOGE is a cryptocurrency whose popularity was born and is maintained through social networks, Twitter and Reddit in particular.
Now, some DOGE followers have decreed April 20 as Doge Day. They are planning to buy a lot of chips to increase their value. And they hope to rally other Internet users to increase the leverage.
During this day, the instigators of the pro-DOGE movement intend to increase the value of the token as high as possible. Beyond one dollar. What’s next? Dogecoin is already in 5th place among cryptocurrencies in valuation, even rivaling XRP for a while.
“The question now is what happens next and whether an equally dramatic reversal is in store,” our fellow CoinTelegraph members rightly conclude. Coordinated “pump” operations often lead to a “dump” and thus a sudden fall. So beware of losses.