Dogecoin (DOGE) has shot up by more than 99% in the past seven days, a move fuelled by Elon Musk’s acquisition of Twitter.
The first time Musk made the offer to purchase Twitter, Dogecoin took off to the moon. However, the bullish momentum later died out after Elon Musk started showing signs of backtracking on his bid to acquire the social media giant on claims of fake accounts.
Now that Musk has completed the acquisition at $54.20 a share, investors believe Dogecoin could be on the verge of reclaiming its 2021 highs.
To assist investors who want to buy Dogecoin, Coinjournal has created a brief guide on the best ways to buy a meme coin.
To find out more, please continue reading.
Best places to buy Dogecoin (DOGE) from
What is Dogecoin (DOGE)?
Dogecoin (DOGE) is a meme coin that is based on the popular “doge” Internet meme and features a Shiba Inu on its logo. It was the first dog-themed cryptocurrency to be launched after which the likes of Shiba Inu (SHIB) were launched.
Dogecoin was actually created from a hard fork of Litecoin in December 2013 by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia.
Dogecoin’s founders foresaw it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla and SpaceX CEO Elon Musk has fallen for the meme coin and he regularly tweets about it and he has also included it as a payment option for Tesla merchandise.
Should I buy $DOGE today?
If you are looking to invest in a cryptocurrency that is on a bullish trajectory then Dogecoin could be a good choice.
Nevertheless, you should be aware of the fact that the cryptocurrency market is extremely volatile especially now that there are a lot of external factors affecting the crypto market.
Dogecoin price prediction
With Elon Musk finally acquiring Twitter, all eyes are on whether the multi-billionaire will propose the use of DOGE on Twitter.
Although it might take some time for the coin to go back to its 2021 highs, investors believe at the current momentum it could surge above $0.2 by mid-November. However, it could end up even going higher if Elon comments anything to do with the coin.
$DOGE social media trends
https://twitter.com/MattWallace888/status/1586866118219730945?s=20&t=KYmIlrOcfQ7D7bUsBrrKbA