Dogecoin price is up 10.5% to $ 0.0335 in Asian exchanges as the hugely popular internet meme cryptocurrency braces for yet another attack to all-time highs? This is the question that torments all observers of the crypto world
Dogecoin, which started out as a joke among developer friends, has been far from a joke for investors. The price of Dogecoin has registered dramatic gains in 2021.
Fueled by celebrity backing, the price of Dogecoin traded as high as $ 0.4498 on April 16, a huge gain of + 6.100% in 10 weeks.
After peaking in April, the price of Dogecoin suffered heavy losses, like many of its counterparts. It traded as high as $ 0.168, 63% below its peak.
Elon Musk has been a strong advocate for the token, often tweeting his support. The news that the self-proclaimed “DOGE father”Will co-host the Saturday Night Live May 8 sparked a new buying frenzy.
Buyers are hoping Musk will use this prime-time U.S. show as a platform to further promote the cryptocurrency. Any mention would likely cause the price of Dogecoin to rise.
Technical outlook for Dogecoin
The price of Dogecoin is currently at $ 0.340 which represents some downtrend line from the April highs. Is Elon Musk’s upcoming intervention going to send Dogecoin on the path of a historic record beyond $ 0.50? For some, now is the time to bet on Dogecoin, at least until Elon Musk’s next statement.