In the cryptocurrency industry, not many cryptocurrencies have the ability to surprise and shock the entire industry. Only a handful of cryptocurrencies are able to do it including Bitcoin (BTC), which currently ranks at the top.
No matter how much rally or growth a cryptocurrency may show, all of them dwarf versus the Bitcoin (BTC). Since November 2020, Bitcoin (BTC) has been gaining market valuation, price, and mass adoption. As of now, the huge portion of adoption to Bitcoin (BTC) records in the form of mainstream institutions.
However, one particular cryptocurrency asset picked up the pace since the beginning of 2021. Ever since the year 2021 begin, Dogecoin (DOGE), a meme, created for entertainment has observed an enormous rally.
Surprisingly, the majority of the investments to Dogecoin (DOGE) do not come in the form of mainstream institutions. The majority of the investors that rallied to the digital asset were independent investors as well as the Dogecoin army.
The first time Dogecoin (DOGE) gained tremendous rally and surge in price was back in January 2021. At that time, the entities that helped surge the price of DOGE were the Dogecoin army. Some of the most prominent members of the Dogecoin army were Elon Musk and Snoop Dogg.
After that, DOGE vanished for more than a couple of months until making a comeback at the beginning of April. After experiencing a huge rally at the start of April, Dogecoin (DOGE) went underground again.
However, Dogecoin (DOGE) has made yet another appearance recently with a huge rally for digital assets. This time again, the analysts claim that Elon Musk is behind it, who has triggered yet another rally for DOGE.
With the recent rally, DOGE has pushed even further into the list of the top ten cryptocurrencies by market capitalization. According to on-chain data reporting firms, Dogecoin’s (DOGE) price has grown by 20% in the last 24 hours. The price of Dogecoin (DOGE) is currently hovering at a $0.33 figure and its price is expected to surge in the coming days.
When it comes to Dogecoin’s (DOGE) overall growth for the last thirty days, the digital has grown 504%. If it is Dogecoin’s (DOGE) performance in a year, then it has grown 13,661%.
While the CEO of Tesla, Elon Musk is the usual suspect in triggering the price of Dogecoin (DOGE), the digital asset observers have highlighted another suspect.
The observers and analysts have highlighted that this time, Mark Cuban is also behind the sudden rise in DOGE’s price. Mark Cuban is the owner of Dallas Mavericks and one of the judges at a reality show called “Shark Tank”.
According to reports, Mark Cuban made a statement in a show, which is positive for DOGE and hinted he would invest in it. On the other hand, Elon Musk made a tweet in the same mystic manner that he does about DOGE. With their combined statements around DOGE around the same time, they were able to trigger a new surge for DOGE.