Dogecoin (DOGE) has passed $0.40 for the first time on April 19 of weekly gains of 400%.
It has been reported that last week, DOGE/USD traded at $0.07, as year-to-date gains are now in excess of 7,500%, while the pair is up almost 18,000% versus the same date in 2020. While this naturally beats the rises in Bitcoin, Ether (ETH), and others, the question now is what will happen next and whether an equally spectacular reversal is on the cards.
However, on April 22, a flight is due to launch that Musk previously hinted would “put a literal Dogecoin on the literal moon.” Since his April Fool’s Day tweet, Dogecoin has seen engagement like never before by dwarfing even that which accompanied Musk’s earlier endorsements.
It’s inevitable pic.twitter.com/eBKnQm6QyF — Elon Musk (@elonmusk) July 18, 2020
Besides the hashtag “#DogeDay” trending in the United States on Twitter, data from Google Trends shows that “Doge” is in the process of being Googled more than ever.
You can’t keep a good DOGE down. The wildly popular crypto continues to surpass expectations, fueled by Elon Musk and a rabid army of devotees. https://t.co/X9d0k5YBjV — Cointelegraph (@Cointelegraph) April 20, 2021
Other social media metrics are suggesting that the craze may already fading on social media.
Thus, a trader Scott Melker, who told US traders looking to book profits to be mindful of legal implications, said:
“This is important. Buy something with crypto in the US = selling crypto.”