With The Rise Of Dogecoin, Is It Right Time To Invest In Meme Coins?

Dogecoin is one of the top meme coins that have provided investors with huge returns. In the past 2 years, DOGE price has witnessed immense growth and its efficiency is one of the factors that leads the coin towards a bullish run.

The success of this meme coin is closely linked to the publicity of Tesla CEO, Elon Musk, who frequently uses his tweets to influence the price of the coin. Dogecoin’s price today is US$0.08993, with a 24-hour trading volume of $571.68 M. DOGE is +4.62% in the last 24 hours. Looking at the recent price surge, it is expected that this meme cryptocurrency will draw the attention of many new investors, and tells us that Dogecoin is here to stay!

Dogecoin: A journey of Becoming the Largest Meme Coin

Launched in December 2013, Dogecoin (DOGE) was started as a means to poke fun at the wild speculations in cryptocurrencies. But today, it is the largest meme coin in the world with a Market capitalization of $11.8 billion. Although cryptocurrency is popular in the present time, it wasn’t been the same in the past nine years and one month.

From December 2013 to December 2020 (for straight seven years), Dogecoin’s price was relatively flat. According to Global data, on May 6, 2015, Dogecoin briefly attained a price of $0.0000869, its lowest price since its creation.

Everything changed in 2021 when Dogecoin found its lucky charm in Tesla’s CEO Elon Musk. On January 28 and 29, Musk tweeted about DOGE and BOOM, Dogecoin’s value galloped over 300% in four hours to $0.032642.

Over 1 year ago, with a price of $0.682 per Dogecoin (which is DOGE’s all-time high), the crypto briefly attained its highest price since its creation.

Read More: Dogecoin Vs XRP: Which Crypto Is Worth Your Money?

Give me the MEMES: Right Time to Invest in Meme Coins?

With a hopeful future for Dogecoin ahead, many crypto enthusiasts believe that other meme coins will also follow the paw prints of their alpha. Overall, one can say that meme coins are here to stay as they impressively show high potential in the future of cryptocurrencies.

Also Read: Top 5 Meme Coins That May Explode In January 2023

Note: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only.