Dogecoin sub-Reddit joined by 145,859 new members

The Dogecoin sub-Reddit grew by 145,859 subscribers last week, adding to the currency’s momentum and interest from new investors.

Data collected and shared by Subreddit Stats indicated that the community has been growing at a steady pace with the total number of subscribers now reaching 1.4 million members.

Doge’s value continues to climb after hitting an all-time high of $0.404, before sliding back to $0.300 following the Sunday crash that tanked the value of Bitcoin and wrote off an estimated $386bn from the crypto market.

Dogecoin’s growth trajectory in the short-term is limited according to data compiled by The Tie and Cointelegraph which expect Doge to suffer in the short-term and possibly return to stability later on.

Over the past year, Dogecoin has managed to yield returns tantamount to 5,000%, placing it as one of the best-performing assets in the short-term. However, the currency’s volatility still poses a threat as Doge struggles to find a practical application.

The good news is that both Redditors and developers are backing Doge once again, which has put it in a position to pursue further growth.

Tech entrepreneur Elon Musk has also been known to endorse Doge on occasion, giving the currency a fresh boost on social media.

Even though he has stopped and moved onto Bitcoin, his early tweets were enough to spur momentum that has translated into strong endorsement for the currency among new investors.

Meanwhile, Doge remains a viable choice if you choose to ever place a bet with crypto. Visit websites such as Bitcasino, 1xBit and FortuneJack for some of the best crypto bets you can place.

Source

Updated: 04/19/2021 — 11:00