Dogecoin price has risen 330% in the past seven days, there is quite a bit of comment surrounding this pump & dump!
Dogecoin price has made quite a few new breakouts in the past week. In it, there are many criticisms and both positive and negative results. First, American traders only had eyes for Dogecoin – that’s statistics on Google Trends. The second is the comments coming from analysts about the future as well as the price increase of DOGE.
Google Trends posted a Tweet highlighting the worldwide search habits of Bitcoin and DOGE traders
Google Trends found that while most of the world remained focused on BTC, American traders only had eyes for Dogecoin.
— GoogleTrends (@GoogleTrends) April 16, 2021
Total Tweet volume referencing DOGE ebbs as the US sleeps and perks up during American daytime hours, often peaking at noon EST, with volume especially robust while DOGE is rallying:
However, simple search and Twitter volume don’t always point to a price rally. As Google Trends’ infographic pointed out, sentiment on a volume surge can be mixed: many of the top search terms centered on traders trying to augur how much gas the DOGE really has left in the tank.
There is a lot of criticism surrounding the Dogecoin price
Social media has by no means been quiet over the continued rise of DOGE. And AXS TV chairman Mark Cuban told CNBC that DOGE will find its level. That while he has no idea what the sudden surge means, supply and demand are undefeated.
Alongside his role at AXS TV and his co-ownership of media company 2929 Entertainment, Cuban is also owner of NBA team the Dallas Mavericks. Back in March, he revealed that the team would be accepting DOGE for ticket and merchandise purchases.
On Friday, as the price surge was continuing, Cuban Tweeted that the Mavs had set a 24-hour record in merchandise sales in DOGE. In doing so, he re-emphasized a Tweet of his from earlier in the week. On Tuesday, Cuban stated that the Mavericks’ sales in DOGE had gone up by 550% over the last month.
Mark Cuban is a prominent advocate for cryptocurrencies, with a diverse portfolio. Including a growing collection of NFTs. In Feb., he said that DOGE had no intrinsic value, but bought some for his son for educational purposes.
Meanwhile, the crypto strategist known as Kaleo tells his 201,800 followers that he envisions DOGE meteorically rising by over 315% from its current price of $0.36.
— K A L E O (@CryptoKaleo) April 16, 2021
“DOGE is far from done. The DOGE fractal from one penny to $0.08 overlaid on top of the current move would have the price top out slightly over $1”
Before his bullish calls on DOGE, the crypto strategist revealed that he made a bet on the red-hot crypto asset:
“I can’t fight it anymore. I bought some DOGE for the culture. Send it to $1.”
Its growth over the last seven days put DOGE at the top of the list for altcoins to have increased the most in value. Between April 9 – 16, the meme-inspired altcoin increased by an astronomical 330.60%.
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