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It is not Bitcoin and Ethereum that run the show in the cryptocurrency market. Dogecoin, supported by Elon Musk, has risen in price by 50% per day, by 11000% in a year

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While Bitcoin still cannot re-approach the $ 60,000 mark, and Ethereum is slowing down its growth, another cryptocurrency is growing by leaps and bounds: in just a day, Dogecoin, actively supported by Elon Musk, added 50%!

Growth for the week is no less impressive: 135%. And in a year, Dogecoin has added 11,000% at all! At the moment, the cost of 1 DOGE is 0.65 US dollars, although not so long ago they were given a few cents for it. In terms of capitalization (just over 87 billion), Dogecoin is already the 4th in the list of the largest cryptocurrencies in the world, and if the growth continues, then Binance Coin, which is now the third in terms of capitalization after Bitcoin and Ethereum, will soon fly out of the Top 3.

It is not Bitcoin and Ethereum that run the show in the cryptocurrency market.  Dogecoin, supported by Elon Musk, has risen in price by 50% per day, by 11000% in a year

What is the reason for such a rapid growth in Dogecoin in recent days? She is, to put it mildly, unusual, and also associated with Elon Musk. According to Edward Moya, a senior analyst at OANDA brokerage company, investors began to buy this cryptocurrency because of … Saturday Night Live, which will be hosted by the head of Tesla. It should be thought that if Musk cannot fully get used to the image of a cheerful joker host, then Dogecoin will begin to fall. In the opposite situation, growth will continue.

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