Dogecoin | Is It Set For $1 Or A Major Crash?

Contents

Dogecoin has almost reached parity with the Russian ruble
CONTENT

  • DOGE approached the value of one Russian ruble

  • This time, the crypto community suspects that the GameStop scenario is being carried out with the cryptocurrency

  • However, there are other reasons for a cryptocurrency pump

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The rate of the meme cryptocurrency dogecoin (DOGE) continues to grow actively against the background of the general market euphoria and is already worth almost one ruble

On Thursday, January 28, the rate of the meme cryptocurrency dogecoin (DOGE) almost reached the level of one Russian ruble.

Dogecoin has almost reached parity with the Russian ruble

On moment of writing DOGE price in DOGE / USDT pair is $ 0.012 (~ ₽0.9).

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Source: coingecko.com

The cryptocurrency deployed on the Bitcoin blockchain is undergoing a pump amid news that DOGE can now be used as collateral to receive the DOGEO stablecoin.

Dogecoin has almost reached parity with the Russian ruble

This was made possible through a partnership with OpenDAO and Ren.

Dogecoin is no longer a meme

However, such a sharp rise in the price of cryptocurrency can also be explained by the recent hype around GameStop shares. Cryptocurrency Reddit threads (r / CryptoCurrency and r / SatoshiStreetBets /) have more and more cryptocurrency-related posts.

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Source: reddit.com

The crypto community believes that the DOGE pump can be directly related to the story around GameStop, when Reddit users “for fun” pushed the company’s shares to the maximum. Such a high-profile campaign against hedge funds has already attracted the attention of the White House.

Dogecoin has long been known in wide circles as a cryptocurrency growing on the hype. At the beginning of January BeInCrypto editors reported, that the DOGE price set a high in just a couple of hours.

Dogecoin has almost reached parity with the Russian ruble

Then the reason for DOGE’s growth was a tweet from porn star Angela White. Prior to this, Elon Musk was considered the main catalyst for DOGE pumps.

In July last year, Elon Musk posted a tweet in which he rosy assessed the prospects for DOGE. Almost immediately after the tweet, the cryptocurrency rate soared by 14%.

Dogecoin has almost reached parity with the Russian ruble

Such close attention to DOGE at one time even caused the envy of the founder of the TRON blockchain ecosystem, Justin Sun.

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