Who Let The DOGE Out?

Last week the top ten cryptocurrencies ranking was reshuffled as Dogecoin (DOGE) shot straight to the eighth place with a market cap just under $18 billion. If we skip stable coins and exchange related coin BNB then this meme coin seized the #4 spot right below the Ripple (XRP).

If we look at the seven-day performance of top ten cryptos in the table below – none of them could boast the triple digit gain that we see in Dogecoin with +125% growth.

If this rally stays intact, the Ripple could lose its #3 spot soon. The price of the DOGE should add another 1/3 to 18 cents for this to happen.

top 10 coins

Source: coinmarketcap.com

What has fueled such a strong rally of this coin? The main reason is the hope that comes with the final takeover of Twitter by Elon Musk, who is a big fan of the DOGE and he pledged to support this meme coin.

Let me show you the anatomy of the rally in the 3-hour chart below. Continue reading "Who Let The DOGE Out?"

What Is Dogecoin?

When I first started watching the meteoric rise of Dogecoin (DOGE) over the last few months, I couldn’t believe my eyes. And my eyes have seen a lot in the cryptocurrency world!

From trading for less than a penny for most of its life, it shot up to a couple of cents in January. From there, it took off, reaching a high of $.68 in May. It now trades around $.25.

That kind of volatility is nothing new. But when you’re talking about a cryptocurrency with a market cap in the billions, it’s something special.

So, we’re going to break down Dogecoin and see if it’s really worth all the hoopla it’s been getting.

Pronouncing Dogecoin?

First off, how do you pronounce Dogecoin (DOGE)? Continue reading "What Is Dogecoin?"