Dogecoin’s value increased in 2021 as the cryptocurrency markets recovered, gaining popularity on social media and spurring the creation of additional coins with Shiba Inu dog themes.

In order to provide a framework for governance and support for the development of the project’s community, the Dogecoin Foundation was established in 2014. Elon Musk unusually favours DOGE over other cryptocurrencies.

Furthermore, even in the context of cryptocurrency markets, the price of Dogecoin fluctuates wildly because social media communities are to blame for notable price peaks and subsequent crashes that garner mainstream media attention.

Doge Price Prediction:

In just 24 hours, coin gained more than 25%, moving from a low of $0.071 on November 9 to $0.093 on November 10. Despite this, a downward trendline-extended resistance level at $0.093 is still a negative support level for the price projection.

Crypto whale investors have been buying and selling around $410 million worth of coin during this week’s volatile cryptocurrency market (DOGE).

According to the blockchain-tracking platform Whale Alert, six transactions totaling almost five billion coins were reportedly made on Thursday in just over an hour.

On October 31, the ninth-largest cryptocurrency by market value reached an all-time high of $0.1422; today, it is trading at $0.0829, a decline of around 45%. The value increased after Internet mogul and supporter of Dogecoin Elon Musk successfully acquired control of Twitter.