Cryptos: Why is dogecoins price spiking? The crypto has surged 11,000% in 2021

By Mark De Cambre4 days ago

Every dog has its daybut a whole year?

Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.

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At last check, dogecoin DOGEUSD, +2.15% was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.

That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.

Only, dont tell that to those cheerleading the crypto, or risk being met with this common refrain: enjoy being poor.

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