Dogecoin poate ajunge la 1 USD

dogecoin became one of the biggest success stories of the year, as it went from being a “joke” coin to one of the most popular coins in the cryptocurrency sector. Mainly, on-chain activity, rising trading volumes on top exchanges, and an increase in attention from major influencers played a critical role in the crypto’s journey.

The same was highlighted in a serie de tweets by Philip Gradwell, chief economist at Chainalysis. He stressed upon the fact that the Doge’s adoption stood at the highest level since the 2017 bull market. New users who have held the token for less than six months currently held 25% of the circulating supply.

On-chain, Doge is being adopted by new investors at a level not seen since the late-2017 bull market, with new investors increasing their share of supply from 9% in July 2020 to 25% in August 2021 pic.twitter.com/W782qNhyMW

- Philip Gradwell (@philip_gradwell) August 16, 2021

Continuing the same thread, Gradwell provided a deeper insight into the on-chain activity for the trending altcoin. It recorded an average of 32,000 daily active users (DAUs) in 2021.

Sursa: Twitter

Gradwell opined:

“Doge has had an average of 32k on-chain Daily Active Users (DAUs) in 2021, and this has moved with the price. There is an R value of 0.7 between the percentage change in DAUs and the percentage change in the DOGE price in 2021 so far.”

With significant rise in DOGE’s price action, many within or even outside the community would point at a  “extrage și depozitează” scenario. Here’s what the analyst trebuia să spun cam la fel,

“Correlation is not causation: spikes in active users and price coincide with Doge-related social media, from Reddit activity to Elon Musk tweets. But an increase in on-chain activity around these events indicates the strength of the response.”

While many would argue otherwise, it should be noted that the trading volume saw an increase as well.

Another analyst on Twitter, Pentoshi, arunca lumina on DOGE’s 24-hour trading volume on Coinbase.

Just saw the $ DOGE volume on Coinbase the past week and my god

There have been some massive buyers 200m USD a day of Doge in volume on CB alone (DIrect fiat on ramp) starting a week ago

While I’m not trading it to $1+ I do think it will get there. My goal is .40-.45 pic.twitter.com/VBtdAWtdjk

— Pentoshi 🐧 Nu vă voi trimite DM (@Pentosh1) August 15, 2021

DOGE was comercial at the $0.33 mark at press time, with a 3% dip in 24 hours. The coin still had a long way to go to reach the $1 benchmark, to say the least. Lastly, big influencers such as Mark Cuban, Elon Musk, certainly played their part in promoting their preferred token.

Billionaire investor, Cuban, perfectly combined the scenarios around DOGE in a tweet.

Punctul despre DOGE pe care oamenii îl doresc este că imperfecțiunile și simplitatea lui DOGE sunt cele mai mari puncte forte. Îl puteți folosi doar pentru a face 2 lucruri: Cheltuiți-l sau HODL-l. Ambele sunt ușor de înțeles. Și este ieftin de cumpărat. Ceea ce o face o comunitate oricui se poate alătura și se poate bucura.

- Mark Cuban (@mcuban) August 15, 2021

Source: https://ambcrypto.com/can-dogeoin-make-it-to-1/