Dogecoin rallies 85%. On January 28, it was able to reach the top 10 rankings of cryptocurrencies as per market capitalization. This has happened for the first time in the past several years, as the last time Dogecoin was in the top 10 in 2015. When the investors started taking their profits out, it seemed that they are now going to find something else to invest their money in. However, the recent surge indicates that the investors and traders are sticking to Dogecoin.
Dogecoin Rallies by 85% Within Three Hours
It has been seen that the whole WallStreetBets drama has led the investors towards Dogecoin. Not only Dogecoin, but many cheap cryptocurrencies were also able to gain the attention of the investors. One of the major factors due to which Docecoin rallied by 85% within three hours is the tweet by a Twitter user named WSB Chairman. Even though Dogecoin has not made any protocol upgrades since 2015, the tweet has resulted in a continued rally. By the end of January 2021, Dogecoin was hanging around $0.03, however, on January 31, 2021, it was able to gain a surge of 85% within just three hours.
Endless Support From Dogecoin Base
As Dogecoin rallies by 85%, it has shown that the token can gain a user base. Dogecoin’s fan base also includes Tesla’s CEO, Elon Musk, however, the user base of this meme coin is not that concrete yet. It is not yet confirmed whether the members of WallStreetBets will be jumping to the cryptocurrency sector or not. Currently, it is believed that if the fan base of Dogecoin keeps on increasing like this and gains the favor of some prominent personalities, its price will increase ultimately, and the rally will continue further.