Long Beach (CoinChapter): On April 19, DOGE price soared to a new all-time high of $0.41. The ‘meme coin’ as it is known to many, has now gained over 428% in a seven-day span.
Dogecoin has now reached some financial landmarks that seemed impossible at the start of 2021. Its market value is now above $50 billion, larger than that of Ford and Marriott. Now supporters of the coin are hoping to see it reach another landmark goal tomorrow.
Dogecoin advocates are pushing to commemorate April 20 as ‘DOGE day’. Furthermore, the overall goal is to have the coin reach $1 on the day. Many hodlers are already expressing excitement for the coin and potential celebration on social media.
In fact, social media is where this latest run for the coin started. But it was not one of the normal big-name players like Elon Musk or Mark Cuban sparking things. Instead, it was Slim Jim that kickstarted things last Wednesday.
On April 14 Slim Jim sent out a tweet saying “RT to send Doge to the moon!!” It worked in a big way as a number of fans, and even some other major brands like Snickers, hopped on the train. The push resulted in the market cap of cryptocurrency briefly surpassing $2 trillion before experiencing a sharp decline.
For his part, Cuban did speak out on the rally and the impact he has seen in sales in Dallas Mavericks merchandise. Earlier this year the Mavericks began accepting payments in dogecoin on its online team store. Cuban now insists that he will never sell the doge acquired through merchandise sales.
DOGE Price will never hold it’s value
Doge has been valued at half a cent for the majority of its existence. Ten thousand new Dogecoins are programmed to be issued every minute for the rest of eternity. As such, the value of the coin will never hold as it is meant to always get cheaper.
The coin is up 8,224% year-to-date.