Will Dogecoin Really Reach $1?

Will Dogecoin Really Reach $1?

There never goes a month without the meme-based Shiba Inu coin, the Dogecoin (DOGE), on reaching the limelight among the crypto industry. Sudden spikes and sudden falls all prevail and are quite an ordinary thing when it comes to the DOGE. Likewise, the news spread like fire and all took over social media as the DOGE spikes continuously over the past 24 hours. 

The 17% Spike Hype

It was long back, about the end of the year 2013 when two programmers by the names Jackson Palmer and Billy Markus brought out the now fascinating DOGE. At that time the crypto was launched merely as a joke, as a meme-based coin just for fun. However, no one at that time knew that DOGE would be reaching such heights now. In spite of all this, the total market value of DOGE amounts to about $44.42 billion.

Likewise, the news which took over the fire upon social media and the entire crypto industry is on how the graph of DOGE  went up for the past 24 hours. Ever since August 15th, the value of DOGE has been on a profuse rise till now. For the first half of the time, DOGE spiked up to about nearly a two digits increase the percentage of about 17%. Furthermore, it kept on the same pace reaching about 33% which astonished everyone. 

Moreover, this is not the first time DOGE has reached a 33% increase, it has seen many such so far over the past year. In addition, this instigated many and many to take over the social media using the hashtag #dogecointo1dollar making it on-trend. Upon Twitter, people stormed in support of DOGE with thousands of people using the hashtag.

Similarly, more than thousands of people are using the hashtag #dogecointo1dollar even now on Facebook. Besides, the social media platform, Tiktok saw more than 8.2 million views on people mentioning the hashtag.

The surge of Other DOGE Like Cryptos

The whole market was kind of like making everyone puzzled upon how other altcoins which are similar to DOGE have behaved during DOGE’s rise in the past 24 hours.

Following this, the similar meme-based coin, the Shiba Inu (SHIB) spiked up to about more than 12% taking the last week into consideration as the time period. Likewise, polydoge (POLYDOGE) galloped to a high of about 43% rise during the same past week.

Also, other meme-based cryptos following DOGE like the Supershiba ($SSHIBA) and shibance token (WOOF)  witnessed a huge surge of about 40%.

On the contrary, it seems that people are of the thought that all these DOGE copycat cryptos will follow the same path as the DOGE, and all of these would become the next DOGE. However, the time has to decide, let’s wait and watch as many are hoping the same though!

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.