The season of meme assets in the financial markets continues. The Dogecoin cryptocurrency hit all-time highs this Thursday, approaching the $ 0.03 level. 24 hours ago, DOGE traded around $ 0.008. Growth from minimum to maximum was 275%. Subsequently, DOGE bounced back below $ 0.02. Also, during the last 24 hours DOGE established parity with the Russian ruble, and at its peak it cost more than two rubles.
Dogecoin is called a meme-coin, since no cryptocurrency is actually being developed, and its logo depicts a Shiba Inu dog from the meme of the same name. This, however, did not prevent DOGE from gaining more than $ 3 billion in capitalization today and entering the top 20 of the cryptocurrency market. However, some consider this approach to be the only correct one for a cryptocurrency – it does not have a premine, ICO and even developers who, by their actions, could ruin its reputation.
Elon Musk calls Dogecoin’s favorite cryptocurrency, periodically mentioning it on Twitter. In December, he wrote, “One word: Doge.” DOGE’s capitalization immediately rose from $ 500 million to $ 600 million.
Today’s DOGE pump was preceded by a call from traders from Reddit to buy cryptocurrency. Previously, they provoked a sharp rise in the shares of GameStop. Subsequently, the Robinhood app blocked the ability to buy GameStop shares, which attracted a wave of criticism and earned a one-star rating on Google Play. Against this background, Robinhood users could become interested in cryptocurrencies and recall the recommendations from Reddit. Curiously, the Dogecoin markets in Robinhood were subsequently also unavailable.
“Is Robinhood already in the crypt? Now DOGE? – wrote Binance CEO Changpeng Zhao. – Warning about high risks and volatility. We cannot close it or stop trading. Too many other exchanges trade it. We will only create more problems. Please be extremely careful. “
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