Dogecoin [DOGE] rises by 121% in last week: such moon, much wow?

Dogecoin [DOGE] has begun seeing the moon price hike that many of its enthusiasts have been waiting for over 8 months now. The coin is currently a whopping hike of 121% over 7 days amidst positive news regarding its status.

The coin rose from a low of $0.0025 over the last month to its current price of $0.0053, marking a doubling in its value. The rise coincides with the news of Yahoo Finance adding the altcoin for trading earlier this week.

7-day DOGE price graph | Source:CoinMarketCap

7-day DOGE price graph | Source:CoinMarketCap

Poloniex also added the DOGE/USDT pair for trading recently on their platform. This comes along with news of a Dogecoin-Ethereum [ETH] bridge known as Dogethereum which has been proposed for evaluation.

The coin is well-known among the cryptocurrency community for being the currency of the widely-loved Shiba Inu breed of dog. The dog has regularly been used for memes known as “Doge” memes, which is where the name of the cryptocurrency comes from. This pattern was seen with the memes that accompanied the current bull run of this coin.

Meme representing Dogethereum bridge

Meme representing Dogethereum bridge | Source: Reddit

Dogecoin to the moon | Source: Reddit

Dogecoin to the moon | Source: Reddit

Much rise in price, such wow | Source: Reddit

Much rise in price, such wow | Source: Reddit

The coin started trading last month above the $0.003 level but did not hold it for long as it sank below the support. It hit a low of $0.0021 on 15th August and continued to trade below the $0.0030 mark for almost the rest of the month.

However, the coin saw a small spike on 30th August that pushed it above the $0.0030 mark again. This time, however, the price continued to rise from near $0.0032 to above $0.0035.

It saw another massive hike on 31st August to almost $0.0040 and crossed $0.0050 earlier today. This marked a hike of 5.7% in the last hour, 42% over the day, and 121% over the week. It is currently at #21 on CoinMarketCap with a market capitalization of $618 million.

User onehundredcups on Reddit said:

“Good day to be a doge investor, just like everyday”

User deadrail stated:

“Honestly I’d be happy if dogecoin hit 50 cents to 3 bucks this year in q4 when all the coins rise. And if it hit 20 next year. Then if it got between 30-100 four to five years from now.Honestly 20 bucks a coins is what I’m hoping for in the future.”

User biggestnibba said:

“When worthless Dogecoin is the only thing in the green, you know something is fundamentally wrong with the universe.”

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