Dogecoin’s price rose 35 percent after the Tesla and SpaceX CEO wrote a few tweets about Dogecoin. Within 24 hours, the price of Digecoin shot up from US $ 0.048356 to US $ 0.065448, the highest increase that Dogecoin has ever experienced. Then again, it raised question in our head like, How high can Dogecoin get?
According to my raw 2021 prediction, Dogecoin might go up in the ranking and might trade between $2 and $4 throughout year 2021. It is very possible because, we can see the data that showing us the DOGE was trade at $0.007 during the start of 2021 and in the short time it has broken its previous price records of 0.07 by hitting an All-Time-High. By the end of 2021 I believe it may touch $5.2 and could compete with other peer cryptocurrencies along this year.
Dogecoin isn’t the only one to have benefited from Musk’s “magic” tweet. Previously, DC Projekt Red (CDR) shares rose 12 percent thanks to Musk’s praise tweets to Cyberpunk 2077. Musk also posted a tweet that reads “Gamestonk” which is believed to be a combination of the words “GameStop” and “stonk”, which is the slang of the word “stock. (shares). The tweet includes a link to a thread on the Reddit forum. At the forum, amateur investors from the sub-forum “WallStreetBets” launched their move to make hedge funds lose money to dealers.