The price of Dogecoin, which is a relatively new cryptocurrency that was created as a spin-off from a popular meme, recently rose by more than 30% against the price of the US dollar. However, the growth was initiated earlier, and it is safe to say that Dogecoin has surged by more than 60% in the past few days.
From 0.00246, Dogecoin jumped sharply to 0.00324-fiat, which is precisely 31% in a strong buying spree.
buy xifaxan generic buy xifaxan online no prescription
The uptrend later matured and the DOGE/USD is now retesting the mid-July peak of 0.00420-fiat.
The main reason behind the impressive surge is speculated to be the integration into the Ethereum project, which will see Dogecoin joining the second largest cryptocurrency project by market cap.
Launched as a joke, the ‘meme currency’ is attempting to keep up with the crypto universe by launching Dogethereneum, which will be the amalgamation of Dogecoin and Ethereum. As a project, it will enable transfers of tokens between the two blockchains.
Currently, the buying sentiment for Dogecoin has strong fundamentals behind it. According to analysts, the 0.00420 is a strong level to break – but one that is the target for the cryptocurrency. If Dogecoin does not break this level, it will eventually stabilize at a support level in the 0.00376-0.00382 area.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post