‘And still, it moves’. The price of $DOGE keeps spiking as Elon Musk incessantly tweets about the currency. The meme coin is winning.
Dogecoin price is consistently surging with increasing investment in the coin. Whenever it seems that the doge is dead, it rises again with a fresh push by one of Elon’s tweet. In the recent episode, Elon Musk tweeted that he has bought some dogecoin for his little son, X Æ A-12.
Bought some Dogecoin for lil X, so he can be a toddler hodler
— Elon Musk (@elonmusk) February 10, 2021
The ‘toddler hodler’ tweet has been keeping the $DOGE price around $0.07 otherwise dogecoin’s dump would have started by now.
Dogecoin started as a meme coin in 2013. Ever since it has been below $1. However, the strong community behind it has caused the pump in 2015. This time too, the pump started with social discussions, tweets and Reddit groups. Dogecoin does not have any intrinsic value. Moreover, its utility is very low.
At the moment dogecoin’s price has increased by 3% in the past 24 hours. Its market cap is up and the coin is sitting at the 12th position on coin market cap listing.
Many critics of the surge say that billionaires like Elon Musk are using their power to divert people from bitcoin. However, bitcoin has been rising for months now. Furthermore, no one can draw a comparison between bitcoin and dogecoin value.