Dogecoin Reaches a New All-Time High as Bitcoin Bulls Attempt To Flip $63K to Help
By Mark L. - Cryptocurrency Dealer - 16-04-2021
On April 13, the price to BuyDogecoin (DOGE) drastically increased by 36% reaching a new all-time high of $0.0961. Even though the cause behind the famous Shiba Inu’s rally remains unclear, the crypto market's favorite meme coin is finally on the shortlist of cryptocurrencies that can be used as a potential payment choice as businesses begin to reopen in our post-pandemic phase.
The cost to buy DOGE rose 36% from $0.07 in the early hours of April 13 to an intraday peak of $0.0961 on $5.4 billion in trading volume, according to data from Cointelegraph Markets and TradingView.
The Dogecoin price rise became one of the major stories of 2021, as big-name influencers like Elon Musk, Snoop Dogg, and Mark Cuban are proud members of the "Dogecoin Army," as shown by a slew of DOGE-related tweets on their timelines.
Although, Cointelegraph Markets Pro's VORTECSTM data started to detect a bullish outlook for DOGE on April 11, prior to the recent price increase. The VORTECSTM Score, which is only available for Cointelegraph, is an algorithmic comparison tool using current as well as previous market conditions that are based on a variety of data points such as market sentiment, trading volume, recent price fluctuations, and Twitter activity.
The VORTECSTM Score for DOGE first started turning green on April 8 before hitting a high of 67 about three hours later on April 10 before staging a brief 30% rally on April 11. Following that rally, the VORTECSTM Score started to grow rapidly on April 12, reaching a peak of 87 on April 13 as DOGE began to rally another 40%.
Now that cryptocurrencies are gaining mass attention, with new indicators of acceptance appearing on a daily basis, projects with massive communities and celebrity endorsements, such as buying Dogecoin, are primed to see a new wave of excitement as new users flood the space in search of the next great moonshot.
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