With the latest support from investors, Dogecoin once again broke the record. DOGE price exceeded $ 0.49.
Twitter made Dogecoin ( DOGE ) famous. The phenomenal cryptocurrency has eclipsed its previous all-time high record.
On May 3, Dogecoin’s market cap once again exceeded $ 60 billion. The “Meme Token” reached its all-time high of $ 0.4951 on the Binance exchange .
The extraordinary rise of the cryptocurrency was mostly supported by Elon Musk ‘s posts on his Twitter account. The Tesla CEO’s ‘meme’ posts were obviously taken very seriously by the market. In addition, although it sounds funny, the news that Elon Musk will host his “Saturday Night Live” program seems to be the main wind for Dogecoin lately. There have been several major increases in its price last week, directly linked to the Tesla CEO, who shares the “meme” as the “Dogefather” on Twitter.
Apart from Musk, he is putting great effort into advertising and promoting Dogecoin, one of the other big names, including billionaire Mark Cuban .
Of course, Twitter is not the only social media platform that Dogecoin finds support. The Reddit community has already attracted 1.6 million subscribers.
Dogecoin (DOGE) was trading at $ 0.48 according to CoinMarketCap data at the time of our news.