The price of DogeCoin glowed into space in just 24 hours, 400% what happens that DogeCoin soared?
Dogecoin was created as an alternative to an easy and cheap payment online based on blockchain technology.
The creators of Dogecoin write about him:
Dogecoin is a decentralized, peer-to-peer digital currency
that enables you to easily send money online. Think of it as
“the internet currency.”
“Doge” is our fun, friendly mascot!
The Shiba Inu is a Japanese breed of dog that was popularized
as an online meme and represents Dogecoin.
The big price fluctuations are probably due to the incredible price pumping mainly by people of all kinds of social services such as Tic-Toc or Reddit, i.e. the price simply is pumped for the needs of quick income.
Probably such Pump and Dump will give much clever money, however, there will also be losing investors as in any market, moreover, usually, such fancy pumping does not end up laughing.
For sure, the positive aspect of such an action is that it is up again in the crypto world, it is louder again about crypto and blockchain.