Dogecoin burst onto the scene in early 2021, bringing in huge returns to investors who have bet on the digital currency.
There will be a special focus on how Dogecoin has been performing lately and where it might have gone, followed by an overview of the best places you can buy Dogecoin - no commission.
Dogecoin's current price is currently $ 0.1950, up 4011% from the start of the year. Looking at this metric in isolation, you will probably be surprised by this increase and believe that Dogecoin is growing rapidly, but it is not. In fact, Dogecoin is currently 73% below all-time highs reached in May 2021.
The momentum for these highs started in January 2021 when Dogecoin rallied about 800% on the day. This came about because the communities on Reddit decided to invest in Dogecoin as a joke after a short Gamestop squeeze. After this incredible price hike, many people stated that Dogecoin looked like the next cryptocurrency to explode.
Dogecoin Price Prediction
Following this price hike, Dogecoin began to gain traction in the media, with famous people like Elon Musk and Snoop Dogg referring to the coin on Twitter. This added fuel to the fire, which was further exacerbated when billionaire Mark Cuban allowed his NBA team, the Dallas Mavericks, to accept Dogecoin as legal tender for customers to buy tickets. As you can imagine, this raised Dogecoin higher.
The main push in Dogecoin's price came in April and May 2021 when Coinbase went public through a direct public offering (DPO). This allowed the share investor to buy in a crypto broker, which spurred price increases across the board for all cryptography. Although Dogecoin was not even listed on Coinbase, the bullish growth in the cryptocurrency market also benefited Dogecoin, pushing the price to all-time highs.
However, all good things must come to an end, and in May 2021, Dogecoin began to fall. This fall was exacerbated by Elon Musk's appearance on Saturday Night Live, in which he mentioned Dogecoin. The price bubble essentially burst and Dogecoin began to drop to the levels we see today.
