A new hashtag was shared on Twitter, Saturday, when users began posting #DogeDay420 in support of a new push to get Dogecoin closer to $1.00 (USD).
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#DogeDay420 managed to get Twitter coverage on Saturday night, when the hashtag was shared on the social media network’s trending list, with over 20,000 people posting about it.
Dogecoin has no doubt been on a hot streak as of late, with the cryptocurrency jumping from $.055 to a record high of $0.42, making it the largest gainer in the top 100 on the crypto market.
Currently, Dogecoin is valued at $0.28, but this is only a small drop for the digital currency in comparison to other cryptocurrencies that were greatly affected by the 10.00% market drop on Saturday evening.
Based on the latest metrics for Dogecoin, the cryptocurrency is showing a bullish trend that will likely result in a new push toward the $1.00 mark, whether in the next few days or a month from now.
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Given the cryptocurrency’s support from several celebrities and investors, including Mark Cuban and Elon Musk, this should help drive its price toward $1.00.
Musk has been one of the biggest supporters of Dogecoin and cryptocurrency in general, as he often promotes Doge and other coins like Bitcoin to his millions of Twitter followers.
Most recently, Musk announced that his company, Tesla, would be accepting Bitcoin for payment; this prompted the crypto giant’s cryptocurrency price to jump at a time when several analysts were predicting significant drops.
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In addition to Musk, billionaire investor Mark Cuban has also been a major supporter of various cryptocurrencies, including Dogecoin, which he said could be used to purchase tickets to Dallas Mavericks games.
“We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR,” he said. “So we will take dogecoin today, tomorrow, and possibly forever more.”
Cuban previously shared his predictions about Dogecoin with a financial publication, telling Forbes that the aforementioned cryptocurrency “will definitely hit $1.”
Given the recent surge in the Dogecoin price, Cuban’s predication may actually come to fruition, as demand for the cryptocurrency is through the roof.