01
Feb, 2021

Dogecoin’s Price on Surge

Everyone in the crypto world is probably familiar with Dogecoin, a cryptocurrency based on Litecoin to serve a joke in Reddit for the existence of plenty cryptos.

 

The community idea is dominant in Dogecoin while there is a surrounding “meme culture” which gives it the opportunity to capitalize any Internet trend, rising its price and value. At this moment, the total capitalization reaches $7 billion while its price reaches around $0.03.

 

After the recent hype in the financial markets, with stocks like GameStop, AMC and Nokia, many investors think that it’s Dogecoin time again, pushing it to a new rally. Dogecoin is the best example for exploiting the trend intensity in the Internet to create value, leading its price formation to be independent from technical and fundamental reasons.