The cryptocurrency market is turning red again today and most prices see a significant correction downwards. Bitcoin (BTC) dips below USD 54,000 again but seems to be able to hold its own for the time being, ripple (XRP) is down 16% and some DeFi and NFT tokens are even down 20%.
Yet there is one price also well in the green today, and that is of course Dogecoin (DOGE). The dogecoin price already rose a bizarre 500% last week and yesterday established yet another new all-time high (ATH) of $ 0.42.
After the ATH, dogecoin fell back briefly to $ 0.35, but has since risen again 20%. At the time of writing, the price is already equaling its ATH of 0.42 and a new record may be in the offing.
That also means that dogecoin is now fifth in the list of largest crypto with a market capitalization of $ 54 billion. Dogecoin recently overtook Cardano (ADA), Tether (USDT), and Polkadot (DOT) and is poised to catch up with XRP again. Dogecoin is now even worth more than the ING bank.
How is it possible that Dogecoin is the only one to rise today? That may have to do with Dogecoin fans now calling April 20 (4/20) “Dogeday”. The fans are building up massive hype, shouting things that the DOGE rate could soar to $ 4.20 today.
However, DOGE is very unlikely to go to $ 1 at all today if there are any further gains in this red market. It must also be said that Dogecoin once originated as a joke, and much of the crypto community still views the altcoin that way. Cardano founder Charles Hoskinson recently warned of a bubble.