DOGE really has taken the world by storm lately, as the cryptocurrency has managed to increase in price by nearly 400% in the past two weeks (and a whopping 800% since the year started). In the past 24 hours, DOGE has experienced a 22.2% increase, and the current price is about $0.42. Billionaires such as Mark Cuban and Elon Musk have both expressed their continued support for DOGE, with Cuban’s Dallas Mavericks even benefiting from it.
In the latest development, both Milky Way and Snickers, two world’s renowned chocolate bar companies, have now also joined in on the DOGE craze, with both companies being owned by Mars Inc.
Snickers shares gif while Milky Way makes a statement on DOGE
DOGE had been created by Jackson Palmer all the way back in 2013. Even Palmer must not have expected his coin to be performing this well 7-8 years later, as not only has this altcoin spiked, but it has also now reached the top 5 cryptocurrencies globally in terms of market capitalization. It is currently ranked as the 5th biggest cryptocurrency.
As aforementioned, the support had been heavily constructed by the hype generated by billionaires Elon Musk and Mark Cuban. Musk is the current CEO of Tesla, whereas Mark owns the Dallas Mavericks.
Moreover, chocolate bar company Snickers had shared a gif about DOGE, offering it some mainstream attention as the ‘Snickers’ chocolate is available worldwide and so has a large target audience. Milky Way, while perhaps not having as big of a global consumer base as Snickers, made an official statement regarding DOGE. The statement read, “congratulations to #DOGEarmy for the success of #DOGEDay. DOGE will rise not just to the Moon, but the Milky Way”, therefore making it clear that the company supports DOGE.
Rally for DOGE as many want it to reach $1
DOGE has undoubtedly been the crypto to watch as of late, and its recent success and moving into the top 5 cryptocurrencies proves this. ‘Dogeday’ searches have become commonplace on various search engines such as Google, and social dominance has gone up but nearly 540%, whereas social engagement for the altcoin is at just above 930%. It is clear that DOGE holders want the coin to reach as high as $1.
Furthermore, it is interesting to note that unlike holders of various other altcoins, holders of DOGE have been holding the coin for well over a year. Also, while many altcoins possess a high ROI in the short term and a low ROI for the long term, DOGE has been performing in the exact opposite way. Lastly, while DOGE does not really have any correlation with Bitcoin, the altcoin nevertheless increases whenever BTC does.