Dogecoin (DOGE) continued its rapid rise on Tuesday when the price of the world’s most popular meme coin topped the $ 0.50 mark for the first time.
On Tuesday, The value of Dogecoin rose from $ 0.389421 to $ 0.541900, which is an increase of 39% and represents a new all-time high for DOGE.
Encouraged by a listing on eToro in the UK and an upcoming television debut on Saturday night liveDogecoin continues to confuse observers who took the coin as its intended creator, that is, a joke.
But Dogecoin is proving to be one of the most profitable jokes in the cryptocurrency space, as evidenced by its miraculous rise since the start of the year.
On January 1st, Dogecoin was valued at less than a cent. Just over four months and growing 10.922% thereafter, the coin is now worth a little over half a dollar.
Dogecoin’s rapid growth is unlikely to be a warning sign for potential investors until mid-April, given the currency’s 50% drop in price. Similar volatility was seen in February when a tweet from Elon Musk appeared to reverse almost 25% of Dogecoin’s growth in just a few hours.