Dogecoin surge to new ATH, $1 insight

TL;DR Breakdown

  • Doge hit new ATH
  • Doge now number four crypto by market cap

Dogecoin has again registered a new All-Time High price in less than three weeks. Beyond this, other good news for the meme coin is that it is just $0.42 away from its dream $1 rise.

The second good news about Dogecoin’s new ATH price is that the rise has made it become the fourth largest cryptocurrency flipping XRP from the spot.

Barely 24 hours ago, the coin climbed into the top five cryptocurrencies after eToro listed the coin. It edges out Tether (USDT) to number 5 and now flipped XRP to sit at number four.

Before breaking into the top five cryptos, the meme coin experienced a 15 percent surge in the past 24 hours, according to Coinmarketcap. Now it has surged by 35 percent, with its market cap now valued at $73,19 billion.

Similarly, in the last 30 days, DOgecoin has seen a 700 percent rise making it the best performing crypto among the top 10 cryptocurrencies.

Now, Doge value has climbed above established firms like Twitter, Ford motors, among others. Although, at Press time, the coin has seen rejection around $0.65, technical indicators do not yet show significant signs of weakness.

Technical indicators are still bullish, supporting the upward move. This is especially evident by the RSI cross above 70 and the increasing MACD.

Dogecoin, peoples money

Doge’s surge is coming against the backdrop of major exchange Gemini announcing that it had integrated support for Dogecoin. eToro listed the coin and announced it has listed it on Monday, a move which spurred it to break into the top five cryptos.

“Dogecoin is the people’s money. It’s organic, irreverent, and fun,” co-founder Tyler Winklevoss commented.

Coincidental to Dogecoin surging price, crypto trading app Robinhood “experienced intermittent issues” with crypto trading earlier today. Possibly, the coin’s price surge has sent users flocking to the app.

However, the app developers are yet to clarify whether the increased interest and trading volume caused the issues.