The price of Dogecoin is rising: today the cryptocurrency marks +79%, reaching the value of $0.13 and touching a new historical record.
Not bad for the cryptocurrency born as a joke. This time though, Elon Musk’s tweets have little to do with it. The CEO of Tesla has not commented on the performance of Dogecoin for a while.
Today, however, when the rise was already stellar, he posted a gif that shows a Shiba Inu dog with a smile that suggests enjoyment:
— Elon Musk (@elonmusk) April 14, 2021
It is not easy to understand what is behind today’s rise. Certainly, the whole market is positive, although among the top 100 cryptocurrencies, no crypto is performing as well as DOGE is today.
The market is experiencing a moment of particular turmoil related to the listing of Coinbase on the Nasdaq. The company of the leading cryptocurrency exchange in the United States will soon make its debut on the stock exchange with the ticker COIN, and is the first major crypto company to venture into the stock market.
Dogecoin’s price performance
In December, DOGE was worth just over 3 thousandths of a dollar. In the days driven by the WallStreetBets pumps, Dogecoin also rose in value to touch 7 cents on the dollar and then fell. But what is happening today is even more surprising.
From 5 cents, Dogecoin has risen to 13 cents, to the delight of those who have always believed in DOGE. Starting with Elon Musk, who with his ironic tweets has contributed to the popularity of the cryptocurrency born as a joke.