Dogecoin Soars 54%, Can It Break 1?
Dogecoin has been on fire lately, surging for four consecutive days, with a 54% increase in just 24 hours. People are starting to wonder if it can reach 1 dollar.
You see, early on Tuesday, Dogecoin broke the 0.41 barrier, marking its first significant rise since it hit a historic peak of over 0.7 dollars in May 2021. The data is shocking; in the past week, this cryptocurrency has brought investors more than 150% returns, almost doubling in 30 days.
Those who shorted Dogecoin have suffered significant losses, exceeding 68 million dollars in total. This is the largest liquidation of Dogecoin this year, with open contracts approaching the historic peak from April.
Speaking of which, the popularity of Dogecoin has been greatly aided by Elon Musk. He previously mentioned wanting to establish a 'Department of Efficiency' in the government, abbreviated as DOGE, to improve the efficiency of government spending.
This talk got traders and media influencers discussing 'DOGE', and thus Dogecoin became popular. The recent surge has led many cryptocurrency traders to believe that the target of 1 dollar is within reach! After all, since Dogecoin sold for over 0.7 dollars in 2021, everyone has been looking forward to this day.
The target of 1 dollar sounds tantalizing, and now crypto enthusiasts feel that this price is not far off!
The test of a bull market is not just about the ups and downs of the market, but also a test of our mindset. In the face of account fluctuations, we must remain rational. Next, I will reveal the next tenfold potential coin! Guessing is not as good as seizing the opportunity! Like + comment, and I will share for free.
