Dogecoin (CCC:DOGE-USD) refuses to wear a leash. The meme coin is back in the news today thanks to a new exchange listing and a newly inspired Twitter rally. Can the gains continue for DOGE as investors hope to push #DogeCoinTo1Dollar?
Dogecoin has been laying low recently, with prices hovering in the 30-cent region for a while. However, a new listing of the meme coin on Coinbase’s (NASDAQ:COIN) Coinbase Pro platform is forcing up prices.
Coinbase has promised delivery of DOGE to its trading platform for a few weeks now. Yesterday, the company opened up Coinbase Pro for DOGE transfers, allowing users with existing Dogecoin holdings to add them to their Coinbase account.
Tomorrow, June 3, is the day that actual trading of Dogecoin will begin.
#DogeCoinTo1Dollar Trends After Musk Meme
The Coinbase news is compounding with other interesting catalysts to make today a busy one for DOGE. Elon Musk has decided to tweet about Dogecoin for the first time in a week, which to investors might as well be eons. The billionaire summed up his bullish attitude with a Shiba Inu meme, calling the DOGE mascot in the photo a childhood picture of himself:
Found this pic of me as a child pic.twitter.com/hUEKluRAdP
— Elon Musk (@elonmusk) June 2, 2021
The meme is prompting responses from thousands of Twitter users, most of whom are DOGE fans happy to see their favorite coin on the mind of one of the biggest crypto influencers. Other Dogecoin influencers have been welcoming the meme with open arms.
The news, the meme and the excitement are culminating into a fresh new trending hashtag. #DogeCoinTo1Dollar is trending with over 23,000 tweets containing the reinvigorated rallying cry.
The hashtag is not the first campaign to get Dogecoin to the $1 mark. Musk’s recent price signaling brought #DOGE1 to the forefront of the trending page.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
