Dogecoin is again on the rise following the recent updates on a range of digital platforms, mainly and Elon Musk announcements.
The appearance of Elon Musk on Saturday Night Live on May 8 has considerably fueled Dogecoin currency rates, a climb that has brought Robinhood's trading platform to a halt. This in fact led to a rise by almost 30% over the last two days and more than 11000% this year, making Dogecoin on the top 10 crypto-currencies of the most valuable digital assets this year.
Back to months ago, Dogecoin's rise began for the first time in February thanks to a series of Elon’s tweets, CEO of Tesla and SpaceX, and it is asserted by many crypto-currencies that these tweets are the vehicle of the current rise. Others agree that Dogecoin's rise is due to the mounting interest among digital currency traders, who don't want to miss any fuss coming from Elon’s updates, on Saturday Night Live.
Although it started out as a joke in 2013, Dogecoin has since gained a great range of followers followers, who have helped develop or rather position Dogecoin as one of the chief crypto-currencies in 2021.
“The Dogecoin bubble should have burst now, but the main concern is Dogecoin is trying to capitalize on this momentum, which in return will bring it to unexpected rates”.
This change in rates has generated both fears and interests in the sense that Dogecoin’s supporters are trying to push it to a value approaching $1, with modest warnings that it has all the hallmarks of a bubble, which could leave heavy losses behind.
Another change in Dogecoin rates is that plenty of trading platforms has released trading in Dogecoin. In the course of the last week, Gemini Stock Exchange has announced the beginning of trading in Dogecoin; eToro also allowed Dogecoin to circulate via its platform, as well as the Webull platform offered its users to buy and sell Dogecoin.
These changes would certainly help develop Dogecoin to place itself as one of the rising crypto-currencies in 2021, away better than Bitcoin and Ethereum.
