The infamous Dogecoin has again moved more than 17% north over the past 24 hours and 32% over the course of the week. The hashtag # dogecointo1dollar is currently trending on social media platforms such as Twitter, Tiktok and Facebook. Meanwhile, a number of other meme-based digital assets that use the Shiba Inu dog breed as a name or logo have seen significant increases in value.
Dogecoin Spike 17% this weekend, supporters are blowing the mark on social media
When programmers Billy Markus and Jackson Palmer launched the Dogecoin (DOGE) network on December 6, 2013, they never expected the meme-based crypto asset to grow so wildly. In fact, the Shiba Inu dog-inspired cryptocurrency, made as a hoax over 7 years and 8 months ago, is now a $ 44.42 billion economy.
On Sunday, August 15th, Dogecoin followers gathered on Tiktok, Twitter and Facebook with the hashtag # dogecointo1dollar. At the time of writing the Hashtag trend on Twitter has thousands of tweets mentioning it.
– Jeremy (@ Jeremy05267232) August 15, 2021
The same goes for Tiktok, which shows 8.2 million views from people who mention the hashtag # dogecointo1dollar. A little more than 1,000 profiles on Facebook today also use the hashtag # dogecointo1dollar.
– Anthony Buchanan (@anthonyscountry) August 15, 2021
Google Trends Spike is from Turkey, Turkish Lira dominates the top five Dogecoin pairs, Meme currency is still down 53% from its all-time high
Worldwide statistics from Google Trends (GT) inquiries show that the search term “dogecoin” rose sharply between Saturday and Sunday. Turkey leads the way according to GT data, followed by the US, Canada, the Netherlands and Singapore.
The Watford Football Club story of English Premier League football players wearing Dogecoin logos is the hottest topic associated with the search term “dogecoin” according to Sunday’s GT statistics.
DOGE trades for about $ 0.339 per unit and has a global trading volume of around $ 6.4 billion as of Sunday. The largest trading pair with DOGE today is Tether (USDT) as it captures 69.8% of all Dogecoin swaps. This is followed by USD (11.49%), BUSD (5.75%), BTC (5.40%) and TRY (3.51%).
Interestingly, DOGE has had a strong relationship with the Turkish Lira for months, and TRY was in the top five couples with DOGE during that time.
Data from bitinfocharts.com shows that the cost per transaction on the network is 0.0056 DOGE per byte, which equates to 2.11 DOGE (0.714) per transaction. Today, onchain metrics show that Dogecoin has recorded around 17,900 transactions in the past 24 hours.
On Sunday, August 15th, the Dogecoin network’s hashrate was hovering around 214.48 terahashes per second (TH / s). Dogecoin’s Network Proof-of-Work (PoW) Scrypt system, unlike Bitcoin’s (BTC) PoW (or the overall work), would require 526 confirmations to be as secure as a BTC transaction.
Dogecoin was trading around 41,000 a day in mid-March and the currency is down 53% from its all-time high (ATH). The crypto asset Dogecoin (DOGE) hit an ATH of $ 0.737 three months ago.
On Sunday evening (EDT), a large number of other Shiba Inu branded meme-based crypto assets will follow Dogecoin’s market leadership. For example, Shiba Inu (SHIB) is up 11.9% this week and Polydoge (POLYDOGE) is up 43% over the same period. DOGE gained 98.30% in the last month and has increased in value by 9,538% in the last 12 months.
Supershiba ($ SSHIBA) and Shibance Token (WOOF) also gained more than 40% per coin over the week, but the crypto asset Baby Dogecoin (BABYDOGE) has lost 21% in the past seven days.
What do you think of the rise of Dogecoin on Sunday night? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Google Trends, Tradingview, Twitter,
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