Dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency.?
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Dogecoin Spiking
Dogecoin?was changing hands at 67 cents, up about 37% in the past 24 hours and up around 14,180% so far in 2021.?
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Fourth-most valued coin
Price surge pushed dogecoin's market cap to over $70bn (?50bn) to?become the fourth-most valued coin, according to CoinMarketCap.??
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Brokerages trade dogecoin
Crypto exchange Gemini?on Tuesday?announced trading and custody support for the coin.??
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Platforms
Trading platform?eToro also made dogecoin?available for trading on its platform.?Webull?allowed its users to purchase dogecoin back on April 20.??
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FOMO
Fear of missing out is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders.?
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Elon Musk Connection
Dogecoin?is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk's hosting of Saturday Night Live.? ?
Image Courtesy : TOI
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Dogecoin: Bubbles & Mania
Many skeptics warn that dogecoin could leave a lot of newbie investors haemorrhaging losses.
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