The Dogecoin (DOGE) crypto asset has again risen to its highest price in history, IDR 10,000. Let’s discuss what causes DOGE to go up.
Dogecoin or DOGE is a crypto asset that is mined in the Litecoin pool. DOGE serves as a popular payment platform in America and around the world due to its very small change.
DOGE recorded the highest price increase in history of IDR 10,000. This makes DOGE’s market cap or market capitalization increase by USD 89 billion. This increase made it the number 4 crypto with the highest market cap after Bitcoin in first place, Ethereum and BNB, in second and third place.
However, do you know why DOGE went up? Is DOGE’s increase this time still because of Elon Musk on Twitter? Let’s discuss the two drivers of the DOGE price up.
It seems that DOGE’s rise this time is not due to Elon Musk’s tweets anymore. One of the reasons for the increase was because the Israeli trading platform had listed DOGE.
Initially, eToro refused to list DOGE. However, this action received opposition from the community and its members.
In e-mailed to customers, eToro stated, Dogecoin’s offering is part of a “further expansion of crypto services”, which now includes 19 cryptocurrencies.
In his statement, eToro actually stated that DOGE has an inflation hedging function. In fact, it has the advantage of Bitcoin being a very cheap price and easy for transactions, in addition to fast transaction times, unlike Bitcoin.
DOGE is very popular in the United States. Not only because of Elon Musk and Tesla, DOGE has also served as multiple payments on several internet platforms, such as the Reddit forums and others.
In fact, the popularity of DOGE is also used for other sales in the country. As was done by baseball Oakland Athletics. They provide payment by DOGE.
Uniquely, this strategy is not limited to taking advantage of DOGE’s popularity. Because Oakland Athletics believes that cryptocurrencies like DOGE can be an attractive investment.
They hope that the DOGE they collect from Oakland Athletics supporters can increase in the future, according to the predictions of DOGE’s increase.
For those of you who are interested in buying DOGE to invest in Indodax, you can follow the following methods: