Bitcoin (CCC:BTC-USD) is not the only crypto setting personal bests today. Dogecoin (CCC:DOGE-USD) is on a roll this afternoon as well, and investor sentiment is high regarding the cheeky dog-themed crypto. What happened today that’s driving the DOGE hype? And what does this mean for Dogecoin price predictions?
Every DOGE has his day, and today was that day for the popular token. The price of DOGE has surpassed the 9-cent mark this afternoon, marking a historic moment for the altcoin and hooking in invested crypto fanatics. The milestone has absolutely brought the house down on Twitter, as DOGE shareholders rejoice with mirth and meme. #Dogecoin is actually trending on the platform as a result.
However, Dogecoin investors are not resting on their laurels with the price surge. There are already calls expressing belief in another rally toward the 10-cent mark.
With Dogecoin, hype seems to be the driving force behind valuation. If you’re a Dogecoin fan, you’ve seen what an Elon Musk tweet can do for a day’s trading. In fact, a tweet from just about any celebrity can bring with it gains. With Musk kept busy last week spreading the DOGE gospel on Twitter, the coin has been bulking up. And with investors demanding a listing on the ever-newsworthy Coinbase exchange, the crypto has more potential catalysts ahead.
Analysts Revise Dogecoin Price Predictions After Gains
Dogecoin price predictions are still fresh from last week, but the news is moving some analysts to make bullish predictions on the token this afternoon. PrimeXBT is calling for a small correction before a rocket upward to an end-of-year price of around 40 cents. This target is reminiscent to the predictions made about Bitcoin this morning on the heels of its own breakthrough. A slightly more conservative, but still bullish DigitalCoinPrice predicts a 14-cent price at the end of the year. While it’s not the astronomical number PrimeXBT calculates, it’s still a 4-cent higher prediction than analysts made yesterday.
DOGE is currently up 30% today, floating around above the 9-cent mark.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.