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DOGE adds $1 billion to market cap in a day as price rises towards $0.80
On July 21, Dogecoin (DOGE), the world's largest meme coin, saw a stunning price surge that made the crypto world sit up and take notice. On that day, the price of DOGE rose by more than 10%, reaching $0.076 at the time of publication. This price increase increased the meme coin's market cap by approximately $1 billion, from $9.67 billion to $10.66 billion. DOGE is now ranked sixth on the daily charts of top cryptocurrencies, just behind Chainlink (LINK) and Maker (MKR). It remains unclear what exactly caused this recent surge, but some in the crypto community are chalking it up to rumors...
DOGE adds $1 billion to market cap in a day as price rises towards $0.80
On July 21, Dogecoin (DOGE), the world's largest meme coin, saw a stunning price surge that made the crypto world sit up and take notice. On that day, the price of DOGE rose by more than 10%, reaching $0.076 at the time of publication. This price increase increased the meme coin's market cap by approximately $1 billion, from $9.67 billion to $10.66 billion.
DOGE is now ranked sixth on the daily charts of top cryptocurrencies, just behind Chainlink (LINK) and Maker (MKR). It remains unclear what exactly caused this recent surge, but some in the crypto community are linking it to rumors about the presence of DOGE in the source code of Tesla's payment site.
It appears that Tesla did not remove the code as the company previously removed the option to accept Bitcoin payments. Tesla removed the word “Bitcoin” from the source code, but “Dogecoin” still remains there. This news likely sparked speculation among DOGE enthusiasts and investors and led to this notable price increase.
The price of DOGE is expected to continue rising in the near future and possibly reach the $0.80 mark. This is a positive development for Dogecoin as it is a meme coin that originated as an internet joke but has recently gained more recognition as a cryptocurrency.
This price increase also has an impact on the overall cryptocurrency market as DOGE is now among the top 10 best performing cryptocurrencies. Investors and analysts will be closely watching DOGE's further developments to find out whether this price increase is sustainable or if it is just a short-term upward movement.
Overall, this price increase shows that Dogecoin is still supported by a large fan base and that there is still potential for future growth. However, investors should also consider the risks associated with volatile cryptocurrencies such as DOGE and carefully consider their investment decisions.
This article was originally published on Coinphony and has been edited and grammatically revised to present the information clearly and concisely.