Dogecoin (DOGE) Price Notes 24-Hour Double-Digit Gains as #dogecointo1dollar Trends

Sahaj  |  Aug 16, 2021

The very famous meme coin Dogecoin (DOGE) has been trending recently on social media platforms such as Twitter (#dogecointo1dollar), Facebook, and Tiktok. The Elon Musk-backed coin has surged around 17% during the past 24 hours and 32% over the course of the week. 

Dogecoin (DOGE) Rises Significantly Amid Social Media Frenzy

As witnessed recently, #dogecointo1dollar has been trending on social media platforms, and as a result of this, the price of Dogecoin (DOGE) has shown significant growth along with other meme-based coins in the market.

It has already been revealed that back when programmers Jackson Palmer and Billy Markus launched the Dogecoin Network on December 6, 2013, they had no idea what this asset is going to achieve in the near future.

Dogecoin followers pushed the meme coin on August 15, Sunday, as the hashtag mentioning Dogecoin will reach $1 was trending on Twitter.

Also, on Tiktok, it was revealed that there were 8.2 million views of people mentioning the same hashtag.

In addition to this, it should be noted that there have been over 1,000 profiles that are using the #dogecointo1dollar hashtag today as well.

The Impact of #dogecointo1dollar on DOGE’s Trading Volume and Price

On Sunday, DOGE was trading for approximately $0.339 per unit and has around $6.4 billion in global trade volume on Sunday.

Also, on Sunday, the hashrate of the Dogecoin network has been coasting along at around 214.48 TH/s.

As for the security of transactions on this network, Dogecoin would need 526 confirmations to be as secure as a transaction that occurred on the BTC blockchain.

Though the coin is still 53% down from the all-time high that it made three months ago when it managed to touch the level of $0.737.

Along with DOGE, small currencies such as Shiba Inu have also been surging in their prices and it managed to jump 43% in the same time frame.

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