{"id":18515,"date":"2024-11-12T14:44:15","date_gmt":"2024-11-12T12:44:15","guid":{"rendered":"https:\/\/forklog.com\/en\/dogecoin-surges-51-in-a-day-reaches-three-year-high\/"},"modified":"2024-11-12T14:44:15","modified_gmt":"2024-11-12T12:44:15","slug":"dogecoin-surges-51-in-a-day-reaches-three-year-high","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dogecoin-surges-51-in-a-day-reaches-three-year-high\/","title":{"rendered":"Dogecoin Surges 51% in a Day, Reaches Three-Year High"},"content":{"rendered":"<p>Within 24 hours, the price of the most famous meme coin, Dogecoin, <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=COINBASE%3ADOGEUSD\">rose<\/a> from $0.2 to a record high of $0.43, with its market capitalization reaching $63.1 billion.<\/p>\n<p><!--more--><\/p>\n<p>The previous all-time high was recorded in April 2021 at $0.33.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"571\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image2-373-1024x571.png\" alt=\"image2-373\" class=\"wp-image-245028\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image2-373-1024x571.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image2-373-300x167.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image2-373-768x428.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/image2-373.png 1214w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">2-hour chart DOGE\/USD on Coinbase. Data: <a href=\"https:\/\/www.tradingview.com\/x\/BA00YfTa\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of publication, the coin is trading at $0.39 and ranks sixth in the cryptocurrency market capitalization rankings with a figure of $56.9 billion.<\/p>\n<p>The sharp rise in Dogecoin is linked to Donald Trump&#8217;s success in the US presidential elections and the potential <a href=\"https:\/\/abcnews.go.com\/Politics\/elon-musk-weighing-trump-staffing-decisions-sources\/story?id=115730434\">role<\/a> of Elon Musk, one of the key promoters of this cryptocurrency, in the new government.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite><em>\u201c[Dogecoin] received a boost due to the US presidential elections, in which Elon Musk was actively involved,\u201d<\/em> <a href=\"https:\/\/www.theblock.co\/post\/325704\/dogecoin-market-cap-60-billion-usd\">noted<\/a> Nick Ruck, head of LVRG Research. \u2014 <em>Speculators believe that Musk&#8217;s involvement in the new White House administration could increase the price of DOGE in the future, as this asset underperformed during the last bull cycle compared to other cryptocurrencies.\u201d<\/em><\/cite><\/p><\/blockquote>\n<p>According to technical analyst Ali Martinez, the price of Dogecoin will continue to rise to $2.4 and could reach $18 by 2025.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A test of the middle or upper boundary of the channel puts <a href=\"https:\/\/twitter.com\/hashtag\/Dogecoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Dogecoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24DOGE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DOGE<\/a> at $2.40 or $18! <a href=\"https:\/\/t.co\/shPEjf4GTN\">pic.twitter.com\/shPEjf4GTN<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1856138843272994883?ref_src=twsrc%5Etfw\">November 12, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Back in August, a court <a href=\"https:\/\/forklog.com\/en\/news\/court-dismisses-258-billion-lawsuit-against-elon-musk-over-dogecoin-promotion\">dismissed<\/a> a $258 billion lawsuit against Elon Musk, which accused the billionaire of market manipulation and promoting Dogecoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Within 24 hours, the price of the most famous meme coin, Dogecoin, rose from $0.2 to a record high of $0.43, with its market capitalization reaching $63.1 billion.<\/p>\n","protected":false},"author":1,"featured_media":18514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[99],"class_list":["post-18515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dogecoin"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18515"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18514"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}