Dogeday: Dogecoin Braces For ‘Volatile’ Price Action After Sudden $300 Billion Bitcoin, Ethereum And Ripple XRP Sell-Off


Every doge has its day. For dogecoin, the meme-based cryptocurrency and “joke” bitcoin rival, that could be today—April 20, the ever meme-able 4/20.

Dogecoin, a minor cryptocurrency until dogecoin-mania swept the crypto world this year, has been propelled into the cryptocurrency top ten and a mind-boggling $50 billion market capitalization—helped by Tesla billionaire Elon Musk. For comparison, bitcoin currently boasts a total value of just over $1 trillion, while other top five digital tokens ethereum and Ripple’s XRP are worth $240 billion and $55 billion respectively.

How To Get Free Crypto  

The dogecoin price has already surged a staggering 15,000% to 40 cents since the broad bitcoin and crypto bull run began in October last year—and dogecoin’s meme-led community is hoping this year’s 4/20 could see it reach the lofty highs of $1.

MORE FROM FORBESBitcoin And Ethereum Are Being Left In The Dust By Dogecoin As The Memecoin Price Suddenly Rockets-Is $1 Possible?

The dogecoin price has been pushed into space this year, with some meme-happy investors expecting it … [+] to “moon” on Tuesday, 4/20.


“$1 is definitely possible,” says Alex Krüger, a cryptocurrency trader and economist speaking via Telegram and adding such a increase “is not that much more for something that volatile.”

Coinbase Banner  

“It’s quite a remarkable dynamic at play where a market always hungry for a strong narrative to dominate price movements has settled on the meme economy for outperformance,” Mati Greenspan, a cryptocurrency trader and founder of market analysis group Quantum Economics, says via Telegram.


The dogecoin price has climbed this week as excitement builds ahead of April 20, adding 20% over the last 24 hours and hovering around its all-time highs.

“Doge is going parabolic tomorrow,” wrote one user of a 45,000-strong cryptocurrency pump-and-dump Telegram group called SatoshiStreetBets, named after bitcoin’s mysterious creator Satoshi Nakamoto and the Reddit community WallStreetBets that sent GameStop GME stock stratospheric this year.

Elsewhere, the wider bitcoin and cryptocurrency market has struggled since a shock $300 billion sell-off over the weekend. The bitcoin price is down around 5% over the last 24 hours while other top five cryptocurrencies ethereum and Ripple’s XRP are also down from their recent highs.

FreeBitcoin Banner  

Meanwhile, bitcoin and cryptocurrency-friendly brands are jumping on “dogeday” as an opportunity to connect with customers. Newegg, a technology-focused online retailer has today begun accepting dogecoin as payment—seven years after it began accepting bitcoin.

MORE FROM FORBESDogecoin Is Holding On To Its Blistering 3,000% Price Gains-For Now

The dogecoin price has surged by an eye-watering 20,000% over the last 12 months, far outpacing the … [+] bitcoin price and ethereum price rallies over the same period.


“The excitement and momentum around cryptocurrency are undeniable, and the recent surge in dogecoin value underscores the need to make it easier for customers to make purchases with this popular cryptocurrency,” said Andrew Choi, senior brand manager at Newegg, in a statement alongside the announcement.

However, while bitcoin and cryptocurrency analysts do see the dogecoin price climbing in the short-term, they are also warning against people getting carried away.

“Most people will lose money, as always,” says Krüger. “That’s how trading manias work. The majority usually comes in at the top.”

Go to Source
Author: Billy Bambrough, Contributor

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.