The digital currency “Dogecoin” still occupies a large area of ​​​​the talk of the crypto community, especially after it rose hours ago to a new record level above $ 0.7, and this left it with only 0.3 to reach the desired $1.

The recent movement of the cryptocurrency “Dogecoin” made it move away in the ranking from its closest followers in terms of total market capitalization, as the total market value of “Dogecoin” is estimated at $92.5 billion, while Ripple has a total market value of $56.2 billion.

There is also not much left for the digital currency “Dogecoin” to catch up with the Binance currency, which has a total market value of $97.6 billion.

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Reasons for the rise of the digital currency “Dogecoin”:

The first and direct reason is that Elon Musk has shared on Twitter many tweets that promise to reach the currency to higher levels.

In addition to his presentation, today, Saturday, May 8, he promised to talk about the digital currency “Dogecoin” on the “Saturday Night Live” program.

It can be said that the year 2021 at least, the first half of which was marked by a strong presence of the digital currency DOGE.

The coin started as a “meme” and joke in 2013 that was trading around $0.005 at the beginning of this year, but its price has seen an indescribable rise in the ensuing months.

The cryptocurrency Dogecoin rebounded from an earlier high below $0.6, but the bulls took the reins again and pushed them north.

Within hours, Dogecoin surged more than 22% to its last record high of $0.74 (on Bitstamp).

While according to the websitecoinmarketcap“The currency is currently at the time of publishing this article, estimated at 0.71 dollars, an increase of 15.88 in the last 24 hours and 103% in the last 7 days.

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As we mentioned above, there is not much left for the currency to reach the third rank in terms of market value, i.e. the displacement of the BNB currency and taking its place behind both Bitcoin and Ethereum.

Outside the crypto industry, Dogecoin is now larger than Airbnb, Uber, General Motors Company, Zoom and FedEx…

It is worth noting and as a note that must be taken into account that the digital currency “Dogecoin” did not grow and rise naturally, which means that it was pumped to reach what it had reached, meaning that the pumping from the richest man in the world was the one who brought it to its current value and not its project and strength, and it is known that behind every pumping Discharge comes, so caution and caution are required towards this currency.

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