Ionuț Ardeleanu apr. Defying all forecasts, the cryptocurrency had a market capitalization of 40 billion dollars on Friday and reached yesterday reached a value of 32 cents, double that of 400 bitcoin previous day.
Like many other cryptocurrencies, the dogecoin price started to increase infollowing the market trend. 400 bitcoin has since disappeared from the radars. But earlier this year, the stock price rose sharply, backed by the enthusiasm of a Reddit group called SatoshiStreetBets.
Like the WallStreetBets group, which supported the advancement of the shares of GameStop in earlySatoshiStreetBets aims to support the price of cryptocurrencies. On Friday, a Reddit user posted a picture of his stock of dogecoin cryptocurrencies on his Robinhood app.
Why Dogecoin is growing One of the reasons is the listing of the Coinbase cryptocurrency trading platform. Listed on the US stock exchange on Wednesday, the 400 bitcoin briefly reached a capitalization of billion dollars.
Some analysts attribute the evolution of Dogecoin to the support that came from Tesla founder Elon Musk, who posted several tweets in support of the coin. Doge Barking at the Moon pic.