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Dogecoin Soars Past $0.50 USD Ahead of Elon Musk's 'SNL' Appearance

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Dogecoin, the memecoin that Tesla CEO Elon Musk has fervently embraced, soared past $0.50 per coin on Tuesday.
According to
Coindesk, the cryptocurrency has yielded a 33 percent return within the past 24 hours and has surged over 11,000 percent year-to-date. Currently, the coin has a market cap of $72.5 billion USD.
Senior market analyst at Oanda, Edward Moya, speculated in a blog post on Tuesday that Musk’s upcoming
Saturday Night Live appearance on May 8 is helping fuel the coin’s current spike.
“Dogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of Saturday Night Live,” Moya wrote. “Musk will undoubtedly have a sketch on cryptocurrencies that will probably go viral for days and further motivate his army of followers to try to send Dogecoin to the moon.”

Dogecoin leapfrogs XRP to become world's fourth-largest crypto

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Another surge in the value of the meme-inspired crypto has left it with a combined market cap of around US$87bn

Why Is Dogecoin Going Up? eToro Listing Is Followed by Crypto Hitting New High

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Why Is Dogecoin Going Up? eToro Listing Is Followed by Crypto Hitting New High
On 5/4/21 at 4:41 AM EDT
Dogecoin has risen to just over $0.47 over the past 24 hours, on the back of news the cryptocurrency has been added to the eToro trading platform.
The platform announced the news on Monday, stating the popular token had been added due to user demand. An eToro press release read: "You barked and we heard you!"
Dogecoin is currently up almost 24 percent over the past 24 hours to $0.47, down a little from its record high earlier. The token is up around 60 percent over the past week.

Dogecoin notches all-time high after listing on eToro trading platform

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Dogecoin notches all-time high after listing on eToro trading platform
The multi-asset broker said overnight that it had added the meme-inspired crypto to its platform following strong client demand
Dogecoin, the meme-inspired cryptocurrency, saw its price hit a new high on Tuesday after the token was listed on retail trading platform eToro due to strong client demand.
In early afternoon trading in London, Dogecoin was trading at around US$0.509, up 29.4% in the last 24 hours, giving it a market cap of US$65.8bn, making it the world’s fifth most valuable crypto.
eToro announced its decision to add Dogecoin to its platform over the weekend in a move that will open trading in Dogecoin to around 20mln users on its platform.

Dogecoin Price Surges After 'Dogefather' Elon Musk's Tweet

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Dogecoin Price Surges After 'Dogefather' Elon Musk's Tweet
KEY POINTS
Musk referenced the cryptocurrency in a tweet about his "SNL" guest appearance
Dogecoin price hit 45 cents earlier this month
Dogecoin’s price surged Wednesday after it became the subject of one of Elon Musk’s tweets. 
Dogecoin’s price rose by 20% in the last 24 hours to 32 cents after Musk, Tesla’s CEO, referenced Dogecoin in a tweet, along with announcements of his surprise appearance on “Saturday Night Live” next week. 
“The Dogefather. SNL May 8,” he wrote. 
The latest surge in Dogecoin prices also was brought about by Mark Cuban, owner of the Dallas Mavericks NBA team, who referenced the cryptocurrency in several posts this week. 

Dogecoin rockets again after another cryptic Elon Musk tweet mentioning the Dogefather

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Dogecoin is once again on a rise after a tough last week, and Elon Musk has made it possible again with his cryptic tweet.

Can cryptocurrencies adapt to environmental concerns and rule changes?

Can cryptocurrencies adapt to environmental concerns and rule changes?

Dogecoin Spikes After Elon Musk Tweets 'Dogefather,' Mark Cuban Endorses Crypto on Ellen

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Dogecoin's price was up sharply on Wednesday morning, though experts have warned about its infamous market volatility.

Elon Musk's Tesla Just Sold Some of Its Bitcoins: Find Out Why

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Elon Musk’s Tesla Just Sold Some of Its Bitcoins: Find Out Why
The Tesla CEO responded to a tweet, sharing that the company had dumped the cryptocurrency to prove liquidity of the cryptocurrency.
By Edited by Gadgets 360 Newsdesk | Updated: 27 April 2021 11:57 IST
In March, the value of Bitcoin rose to a then all-time high of $60,000 (roughly Rs. 45 lakhs)
Highlights
His tweets have sent the value of these two cryptocurrencies soaring
Tesla invested $1.5 billion (roughly Rs. 11,200 crores) in Bitcoin
Elon Musk said Tesla had sold 10 percent of its Bitcoin holdings to demonstrate the cryptocurrency's liquidity on balance sheet, while he has retained his personal Bitcoin investment. The Tesla and SpaceX CEO was responding to a tweet by Barstool Sports founder Dave Portnoy, who questioned Musk's sale of Bitcoins and said that he had bought the cryptocurrency and made a fortune by selling it a higher price. Portnoy's tweet came after Tesla stated in its first-quarter earnings report on Monday that it had sold $272 million (roughly Rs. 2,030 crores) worth of its Bitcoin holdings.

Petition Asking Amazon to Accept Dogecoin as Payment Hits 200,000 Signatures

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Petition Asking Amazon to Accept Dogecoin as Payment Hits 200,000 Signatures
On 4/27/21 at 10:18 AM EDT
A petition asking Amazon to accept Dogecoin as a form of payment has garnered over 200,000 signatures. Doge4Amazon on Change.org has received 200,416 signatures as of publication time.
The petition description states: "Currently Amazon does not accept crypto-currencies as a payment method alienating many people who do not have a traditional bank account. Amazon.com, being a leader in innovation, should accept Dogecoin as a form of payment. Dogecoin is fast, cheap, and stable. It is stable in value, has the lowest transaction fee of other major coins, has a huge supply of coins and has a very large, active community with on-going development."

Here are some key insights into the Dogecoin speculative mania

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4/26/2021 1:56:27 PM GMT
Since its early days, crypto markets have gone through various speculative cycles. From Bitcoin to ICOs to meme tokens, traders have rushed in and out of multiple assets as the market and its participants evolve. 
The most recent frenzy has arise in meme coins such as Dogecoin, and more recently in “safe” tokens such as SafeMoon, SafeMars and others. Many of these have returned over 1,000% but also crashed over 50% within a short period of time. 
Dogecoin faces massive resistance ahead
The poster boy for meme tokens, Dogecoin has surpassed some of the wildest expectations. More than just Elon Musk, now the Dallas Mavericks and Slim Jim have moved to endorse the cryptocurrency. This, along with countless memes, propelled Dogecoin to go from $0.0055 to over $0.40 in 2021, or a 72x return year-to-date.

A 33-year-old Dogecoin investor says he became a millionaire in 2 months after Elon Musk inspired him to pile into the meme currency

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A 33-year-old Dogecoin investor says he became a millionaire in 2 months after Elon Musk inspired him to pile into the meme currency
A 33-year-old Dogecoin investor says he became a millionaire in 2 months after Elon Musk inspired him to pile into the meme currency
Shalini NagarajanApr 26, 2021, 21:12 IST
Glauber Contessoto.THE DOGECOIN MILLIONAIRE/YouTube
A
He said
Glauber Contessoto, of Los Angeles, posted a screenshot of his Robinhood balance on Reddit.
Glauber Contessoto, a 33-year-old Los Angeles resident, claims to have become a Dogecoin millionaire on April 15.
He said he invested over $180,000 into Dogecoin when its price was about $0.045 cents, on February 5. He detailed his reasons for buying the meme currency in a YouTube video and posted on the Dogecoin subreddit two months later about his new millionaire status.

We're All Crypto People Now - The New York Times

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There’s an industry term for white-knuckling it through crypto’s wild volatility without selling: “hodl.” “I always tell my friends, ‘If you really believe in it, buy it for your kids,’” one asset manager said.Credit...Ilana Panich-Linsman for The New York Times
The Great Read
We’re All Crypto People Now
Bitcoin and other cryptocurrencies have gone from curiosity to punchline to viable investment, making them almost impossible to ignore — for better or worse.
There’s an industry term for white-knuckling it through crypto’s wild volatility without selling: “hodl.” “I always tell my friends, ‘If you really believe in it, buy it for your kids,’” one asset manager said.Credit...Ilana Panich-Linsman for The New York Times

Should you buy Dogecoin? One big reason why you should not

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Should you buy Dogecoin? One big reason why you should not
Should you buy Dogecoin? One big reason why you should not
Dogecoin has gained unprecedented fame in the past couple of weeks. With this, the cryptocurrency market value is fluctuating like never before, and not many are sure what to do about it. Here are some insights that might help.
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(Image: Twitter/ Next Hedge)
Since then, it has mostly been a low cost, simple solution for crypto-related work.
Dogecoin touched a market value of $50 million earlier this week.
Dogecoin is the protagonist of a cryptocurrency tale that no one could have predicted beforehand. As the fame of the meme cryptocurrency grew, its market value dwindled in the last couple of weeks like a candle flame in the wind. It experienced an unimaginable high and came crashing down soon after.

Cryptocurrencies crash: Bloodbath in cryptocurrency market

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Cryptocurrencies crash: Bloodbath in cryptocurrency market; wipes out billions of dollars
Cryptocurrencies crash: Bloodbath in cryptocurrency market
Cryptocurrencies are hit black and blue virtually. On Friday, Bitcoin and other cryptocurrencies in a matter of less than 24-hours lost billions in valuation. Except for Bitcoin Gold all other cryptocurrencies have nosedived.
This slump was amid fears that US President Joe Biden plans to raise capital gains taxes which will curb investment in digital assets.
On Friday, popular cryptocurrency Bitcoin traded at a low of $47,467.91 in the 24-hour period. The currency which was valued in the trillions slumped to a valuation of $894.07 billion. In February this year, according to Coindesk, bitcoin’s market value had surpassed $1 trillion.

Dogecoin Price Prediction: DOGE primed to rebound after defending key support level

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4/23/2021 11:02:52 AM GMT
Dogecoin price held a key support level on the 4-hour chart.
The digital asset aims for a significant bounce as a key indicator presented a buy signal.
DOGE is already up 50% since its last low on April 23. 
Dogecoin price had a massive crash since its new all-time high at $0.45. The digital asset reached the top 5 in the market capitalization ranking after a massive rally. 
Dogecoin price could see a significant bounce
On the 4-hour chart, Dogecoin price has defended the 100 SMA support level at $0.186 and has already seen a 50% bounce since hitting a low of $0.159. The digital asset faces a resistance level at $0.257, which is the 50% Fibonacci retracement level. 

Dogecoin 'Millionaire' Who Risked Life Savings Didn't Cash Out Before Price Crash

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Dogecoin 'Millionaire' Who Risked Life Savings Didn't Cash Out Before Price Crash
On 4/23/21 at 10:43 AM EDT
A Dogecoin investor who claims to have gambled his entire life savings on the token, becoming an overnight millionaire when its price suddenly rocketed, chose not to cash out at its peak—and is now back down to six figures after the market plunged.
But 33-year-old Los Angeles resident Jaysn Prolifiq—legally known as Glauber Contessoto—told
Newsweek he does not regret hanging on to his tokens, even as their value drops again.
Financial experts warned others against taking a high-stakes risk like Prolifiq's.

Bitcoin's big selloff was a long time coming: Investors decode crypto's massive slump

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Bitcoin’s big selloff was a long time coming: Investors decode crypto's massive slump
SECTIONS
Last Updated: Apr 23, 2021, 08:53 PM IST
Share
Synopsis
While the digital token is known for its big price swings, this latest bout has been particularly head-spinning after the all-time high notched on April 14.
Reuters
The token plunged below $50,000 in Friday trading for its worst week in almost two months as a proposed tax hike for wealthy Americans intensifies an industry selloff.
Related
Bitcoin has rewarded investors with massive gains all year, but now the cryptocurrency’s famous volatility is back.
The token plunged below $50,000 in Friday trading for its worst week in almost two months as a proposed tax hike for wealthy Americans intensifies an industry selloff.

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