Dogecoin (DOGE) price goes to the moon in a 420% daily surge

Digital currency Dogecoin (DOGE), known as being a ‘joke crypto’ and a coin based on the 7-year-dead meme, once again started attracting interest and making headlines in the crypto industry. The coin recently skyrocketed by 420% in a day, reaching a new all-time high, and attracting massive amounts of support and interest.

DOGE price hits a new all-time high

DOGE has just seen a massive amount of interest over the course of the last 24 hours. The coin even reached a new all-time high, finally beating the record from January 7th, 2018 when it reached $0.018628. The new surge pushed it much, much higher — all the way up to $0.072564.

However, while the coin’s price behavior is certainly nothing short of incredible — an even more interesting part was how the world reacted to the surge.

Crypto Twitter exploded, and the coin is seeing more interest than ever before. Tesla and SpaceX CEO, Elon Musk, who is currently the world’s richest man, supported the token multiple times over the years, and each of its tweets led the coin to see strong price surges. This time, the coin is skyrocketing without Musk’s help, although he still did support it.

Twitter goes crazy about Dogecoin

As mentioned, DOGE has seen a lot of mentions in the past 24 hours or so. UberFacts, for example, pointed out that the coin was created in 2013 as a joke. It early 2021, however, the coin sits as the 12th largest crypto with a $6.1 billion market cap.

Dogecoin was initially created as a joke in 2013, and now has a market cap of $4.5 billion

— UberFacts (@UberFacts) January 29, 2021

Countless celebrities came out admitting to buying the coin, including Mia Khalifa, who said that she “caved in and bought the dog stocks.”

Okay I caved and bought the dog stocks lmaoooooo

— Mia K. (@miakhalifa) January 29, 2021

Even Binance had a seemingly casual mention of the project, spreading awareness about it and its newest surge.

@binance is really pumping $DOGE lol. Not that I'm complaining 🐶 #dogecoin #dogecointo1dollar https://t.co/LXWnFXlNH6

— Doge Investments (@DogeInvestments) January 29, 2021

It is also worth mentioning that Reddit users from r/SatoshiStreetBets — a play on WallStreetBets group which made headlines for a major series of short squeezes in traditional finance — encouraged the purchases of the coin, with the goal of pushing DOGE to $1.

#Dogecoin, a cryptocurrency originally started as a joke is up 72%. Reddit is at it again. Here are some screenshots from a Reddit board called "SatoshiStreetBets" (Satoshi = mysterious founder of bitcoin). Posts encouraging ppl to send Dogecoin to $1. Currently just over $0.01 pic.twitter.com/9Nj5bPjOwc

— Arjun Kharpal (@ArjunKharpal) January 28, 2021

In fact, this might be the very reason why the DOGE surge started so suddenly and strongly. At the time of writing, the coin has seen a strong correction from its new ATH, currently sitting at $0.04770. But, DOGE has been nothing if not unpredictable, so anything can happen in days — or even hours — to come.