Do you know the reason for this rally?The cryptocurrency based on a popular doge meme has surged more nearly 418% in a week, making it worth almost $41 billion. Although the currency was started as a joke, it now has become the seventh-largest cryptocurrency in market capitalization. The current market price of DOGE is $0.323 after an increase of nearly 27% over 24-hours.The one reason why DOGE is rallying could be the Coinbase listing. The exchange platform went public recently, hitting a market cap of $100 billion. It led to a surge in the prices of many cryptocurrencies, including Ether and Bitcoin. Another factor that could be considered is its support by Tesla\u2019s CEO Elon Musk. Musk\u2019s various tweets about Dogecoin have helped in pushing up its price. Even on Thursday, he tweeted, saying, \u201cDoge barking at the moon\u201d.This year, Elon Musk sparked a Dogecoin rally with his tweets that gripped the market in February. People\u2019s interest in cryptocurrencies is on the rise again after many companies enabled the transactions in Bitcoin on their systems. The surge in DOGE\u2019s price is due to the rise in altcoins that have emerged up imitating Bitcoin.Notably, Dogecoin is a cryptocurrency that was started in 2013 as a joke by two software engineers. Since its launch, it has marked an impressive increase in value. Investors have made a tremendous amount of money by buying Dogecoin, and it also doesn\u2019t seem a bad idea to invest a small sum of money in it because its price is continuously rising.But, its skyrocketing price has led to a potential bubble in the crypto market. Investors are buying it not because of its value but because they are feared that its price will rise due to its piling up the other investors. People want to sell it off\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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