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Dogecoin entered the top 10 cryptocurrencies by capitalization

In the last 24 hours, the market value of Dogecoin (DOGE) has risen by almost 470%. The coin climbed to seventh place in terms of capitalization, according to CoinGecko.

Data: CoinGecko.

The DOGE price set a new all-time high at 0.078.

According to CoinMarketCap, the cryptocurrency is ranked ninth in terms of aggregate market value.

The coin pump began following a call to buy DOGE on the r / SatoshiStreetBets Reddit community, which has over 180,000 members. Sabredit calls itself a cryptocurrency analogue of the r / WallStreetBets group, which earlier provoked a rapid rise in the shares of GameStop, contrary to market expectations.

Data: Reddit.

“We will not budge until DOGE reaches $ 1, the time has come!” – reads one of the messages in the group.

Elon Musk reacted to the rise in the price of DOGE, which was noted in r / SatoshiStreetBets.

Last year, a tweet from the head of Tesla and SpaceX about the prospects for using Dogecoin technology as the global financial system led to a 17% growth in the cryptocurrency.

In December, Musk’s account posted a series of tweets about bitcoin that surprised the community, and a new post about DOGE, which bumped up the coin’s price again. In the account header, Musk was named the former CEO of Dogecoin.

Earlier, he became the winner of a comic April Fools’ poll, in which users were asked to vote for the most suitable candidate for this position.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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