Why is Dogecoin surging today?

Dogecoin is surging today as it reached a new all-time high. What caused the spike?

Why is Dogecoin going up?

Dogecoin continued to soar after the looming public debut of Coinbase , which is a cryptocurrency exchange. But most of the surge can be attributed to Elon Musk’s ongoing performance in Dogecoin-focused tweets.

Elon Musk has made a habit of posting on Twitter occasionally and causing traders to go crazy.

On 15th April, Elon Musk shared a tweet of “Doge Barking at the Moon” it seems to be helping at least one day of high trading volume for Dogecoin.

Will Dogecoin make me rich?

Many people think Dogecoin is a terrible investment because it’s meant to always get cheaper, but the recent surge has proven that wrong. Now, investors are looking for a way to cash in on what was once thought of as a worst-case scenario type of coin.

Dogecoin is up more than 2,600% this year. This cryptocurrency is certainly making waves, and has seen celebrity interest from Elon Musk and Snoop Dogg.

Today, the Dogecoin price has dominated social media. At least one person or company might be making real money on this surge in value for dogecoins. In February, word escaped that an unknown entity currently holds roughly 28% of the Dogecoin in circulation.