{"id":227448,"date":"2021-04-15T13:48:41","date_gmt":"2021-04-15T10:48:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3-reasons-dogecoin-is-up-123-this-week-hitting-0-10-for-the-first-time\/"},"modified":"2021-04-15T13:48:41","modified_gmt":"2021-04-15T10:48:41","slug":"3-reasons-dogecoin-is-up-123-this-week-hitting-0-10-for-the-first-time","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3-reasons-dogecoin-is-up-123-this-week-hitting-0-10-for-the-first-time\/","title":{"rendered":"# 3 reasons Dogecoin is up 123% this week, hitting $0.10 for the first time"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4130bededba\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4130bededba\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-dogecoin-is-up-123-this-week-hitting-0-10-for-the-first-time\/#Altcoin_market_rallies_strongly_with_positive_sentiment\" >Altcoin market rallies strongly with positive sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-dogecoin-is-up-123-this-week-hitting-0-10-for-the-first-time\/#Elon_Musk_tweets_about_DOGE\" >Elon Musk tweets about DOGE<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># 3 reasons Dogecoin is up 123% this week, hitting $0.10 for the first time  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The price of Dogecoin (DOGE) has rallied by more than 123% this week, hitting a new all-time high of $0.13 on strong technical momentum.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/6b453df5-62e9-4501-b958-b268b9f9fffb.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>DOGE\/USDT 4-hour price chart (Binance). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>It has been competing against Chainlink\u2019s LINK for the top-10 spot, with both cryptocurrencies hovering at around $17 billion in market capitalization.<\/p>\n<p>There are three major reasons why DOGE saw a steep climb over the past seven days. These include Elon Musk\u2019s tweets, the resurgence of altcoins and the positive sentiment around crypto in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Altcoin_market_rallies_strongly_with_positive_sentiment\"><\/span>Altcoin market rallies strongly with positive sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Throughout the past week, many of the \u201cOG\u201d altcoins, such as XRP, Tron (TRX) and Stellar (XLM), saw massive rallies following Bitcoin\u2019s (BTC) upsurge to a new all-time high above $64,000.<\/p>\n<p>XRP, for example, broke above $1.5 for the first time in over three years, showing that profits from Bitcoin and Ether (ETH) are possibly cycling into altcoins in the short term.\u00a0<\/p>\n<p>Kelvin Koh, a partner at Spartan Group \u2014 one of the largest DeFi-focused funds in Asia \u2014 explained that this trend h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens periodically because quant funds trade the convergence between Bitcoin and altcoins.<\/p>\n<p>Koh <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SpartanBlack_1\/status\/1381119638780579841\">noted<\/a>:<\/p>\n<blockquote><p>\u201cThe reason this happens periodically is because there are a bunch of quant funds out there that play the convergence trade between $BTC and a handful of liquid alts. Whenever there alts look cheap relative to $BTC, they pile in. When they look expensive, they rotate back to $BTC.\u00a0No fundamentals involved so don\u2019t try too hard to rationalize the moves. This strategy has proven effective over time and there are enough managers playing this that it becomes self-fulfilling and keep recurring.\u201d<\/p><\/blockquote>\n<p>The general increase in the momentum of the altcoin market played a major role in fueling Dogecoin\u2019s overall momentum throughout the past few days.<\/p>\n<p>Technical traders have echoed a similar sentiment about the strong rally of altcoins over the past week.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Is the Altcoin market setting itself up for a dip in the short-term?<\/p>\n<p>It&#8217;s a possibility<\/p>\n<p>But pull-backs from here would not only be a healthy development for Altcoins<\/p>\n<p>But also a necessary one for many of them to confirm higher timeframe breakouts before further upside<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1381616323755642886?ref_src=twsrc%5Etfw\">April 12, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, another well-known cryptocurrency trader Loma said that the fundamentals surrounding most altcoins haven\u2019t changed.<\/p>\n<p>Therefore, if traders trade altcoins that are breaking out based on technical analysis but disregard the technical aspect of it, there is a high chance of the trade becoming unsuccessful.<\/p>\n<p>The trader <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LomahCrypto\/status\/1381442034880372739\">explained<\/a>:<\/p>\n<blockquote><p>\u201cFriendly reminder that the fundamentals on most of these fossil coins are identical to what they were months or even years ago. As an altcoin trader, if you entered a trade off TA but disregard TA for FA somewhere in that trade, you\u2019re more often than not.. fucked.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Elon_Musk_tweets_about_DOGE\"><\/span>Elon Musk tweets about DOGE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In addition to the technical momentum of altcoins, which directly fueled the uptrend of Dogecoin, Musk\u00a0tweeted about DOGE on Thursday once again.<\/p>\n<p>Musk wrote, \u201cDoge Barking at the Moon\u201d with a meme that hints at higher DOGE prices. The price of a cryptocurrency can easily skyrocket when a public figure or well-recognized influencer tweets about a less liquid altcoin, and this time was no different.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Doge Barking at the Moon <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/QFB81D7zOL\">pic.twitter.com\/QFB81D7zOL<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1382552587099062272?ref_src=twsrc%5Etfw\">April 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Despite Musk\u2019s affection for Dogecoin, Tesla has\u00a0invested\u00a0solely in Bitcoin, however, adding approximately 48,000 BTC currently worth $2.5 billion to its balance sheet while directly\u00a0accepting BTC for its electric vehicles.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3-reasons-dogecoin-is-up-123-this-week-hitting-10-cents-for-the-first-time\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 3 reasons Dogecoin is up 123% this week, hitting $0.10 for the first time &#8221; The price of Dogecoin (DOGE) has rallied by more than 123% this week, hitting a new all-time high of $0.13 on strong technical momentum. DOGE\/USDT 4-hour price chart (Binance). Source: TradingView.com It has been competing against Chainlink\u2019s LINK for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":227449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvM2IyNDQ1ZmYtNjI3Ni00ZGI4LWJmMGMtMGQ1NDliNDM3OWM2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,86883,74939,73785],"class_list":["post-227448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-dogecoin","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/227448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=227448"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/227448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/227449"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=227448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=227448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=227448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}