Dogecoin price is projected to reach US $ 1, transaction volume reaches Rp 1 trillion
Dogecoin transactions on Indodax as of Friday (16/4) are fantastic. Yesterday, Dogecoin's transaction volume reached IDR 1.2 trillion in one day. This is in line with the price of Dogecoin which rose 197.4% within 24 hours to IDR 5,831 per DOGE.
The lower price of Dogecoin compared to other crypto assets is one of the lure for retail investors to take part.
Investors seem to believe the Dogecoin price is headed to US $ 1 per DOGE this year. "I think Dogecoin can touch US $ 1 this year," said Youtuber and Dogecoin investor Ben Philips, as quoted by Forbes.
Based on coinmarketcap data, the price of Dogecoin is at US $ 0.387 per doge or up 191.15% in a day. The price of Dogecoin was up 541.55% in seven days. This increase brought Dogecoin's market capitalization to US $ 50.47 billion.
"I'm not making jokes. I see this coin is making a stupid move," continued Philips. He claimed to have bought quite a large amount of Dogecoin and learned more about cryptocurrency this year.
Philips says Dogecoin is different because DOGE's price is soaring and it attracts quite a lot of interest. Even the increase is unprecedented in any other crypto market.
Alex Kuptsikevich, senior financial analyst at FxPro in email comments as quoted by Forbes explained that the increase in Dogecoin's price was due to retail demand. "Thank you for retail players," he said.