Why Is Dogecoin Performing So Much Better Than Other Cryptocurrencies Right Now?

[Good-Guy]

Right now crypto market is suffering a lot because it seems that governments of several different countries are banning cryptocurrencies and crypto miners have to actually look for a country where they can easily mine coins without any restrictions. These restrictions by governments have had a really huge impact on the prices of crypto and almost all the crypto prices decreased a lot. But it seems that the the price of Dogecoin was not much affected by the current fluctuations. Here is a data of the price of Dogecoins:-

Price increased by 11 percent in the last 30 days.

Price decreased by almost 12.3 percent in the past 14 days.

However, after this decrease in price, the price immediately increased by a whooping more than a 21 percent in the last 7 days! No cryptocurrency has been performing this good. So why is dogecoin performing so well?

 

[funmi]

Well, I believe dogecoin is one of the small but upcoming Coins now. And it is trending all over the world now. I also discovered that dogecoin is being purchased by Rich people now that bitcoin seems to have reached it apex, people prefer to buy dogecoin that has low about of money to purchase it. I also believed that dogecoin will soon be competing with ripple and litecoin very soon.

 

[sincerem]

Dogecoin is a celebrity, I've heard and read news of celebrities supporting dogecoin. And also the second highest man is behind the push of dogecoin reaching the top, i believe Elon musk will push the price even higher than the current price of $0.41. If not for the ongoing bearish run caused by the Chinese govt delisting crypto. DOGE could've reached $1 by now.

 

[Razor1911]

The main reason is the investors faith in it. And that sentiment is backed by Elon Musk himself. Elon is trying hard to to push the coin as high as possible. His comments, tweets are all indicating that he is manipulating the market. His intention is to shift the money from bitcoon and other cryptos to small coins like doge. He has a large number of stake in dogecoin.

 

[Good-Guy]

The main reason is the investors faith in it. And that sentiment is backed by Elon Musk himself. Elon is trying hard to to push the coin as high as possible. His comments, tweets are all indicating that he is manipulating the market. His intention is to shift the money from bitcoon and other cryptos to small coins like doge. He has a large number of stake in dogecoin.

I believe that it is rising because of Elon Musk. Elon Musk has no straight control over the price of dogecoin but he indirectly controls the price of Dogecoin by his investments. Obviously he is one of the most powerful people on Earth, so he might have that capability. Some other reasons might be investors' interest in the coin. I do believe that Dogecoin will rise more and I will also invest some money into it.

 

[Mika]

The currency price hike of dogecoin is due to coinbase listing of dogecoin. Now, coinbase pro has listed dogecoin. Coinbase is a platform for investors and tradors. However, for normal users or the Coinbase wallet, doge is yet not available.However, it is expected that soon doge will also be available on coinase wallet.

 

[sincerem]

The main reason is the investors faith in it. And that sentiment is backed by Elon Musk himself. Elon is trying hard to to push the coin as high as possible. His comments, tweets are all indicating that he is manipulating the market. His intention is to shift the money from bitcoon and other cryptos to small coins like doge. He has a large number of stake in dogecoin.

Yes, Elon musk is doing some food work to shift the attention of people who never invested into crypto and those who invest heavily on the top coins to also look after the lower coins and invest too. He might be causing the price of the bigger coins to fall base on his tantrum but he's also working to see the coins in the market gain recognition and widespread acceptance.