Over the last 30 days, Dogecoin (CRYPTO: DOGE) has plunged nearly 36%. This could give rise to the feeling that the DOGE days are over, but the Shiba Inu still has a lot going for it. Here are factors that could see DOGE rise again:
DOGE Is A Social Animal: The greatest strength of DOGE is its loveable nature and that doesn't seem to have gone anywhere. The cryptocurrency has a strong and loyal following in the form of a DOGE Army. A measure of the numbers can be gauged by the fact that r/Dogecoin, a seven-year-old community on Reddit is 2.1 million strong.
See Also: How To Buy Dogecoin (DOGE)
DOGE attracts a lot of activity on Twitter Inc’s (NASDAQ: TWTR) platform as well. The cryptocurrency frequently tops the list of top 10 mentions on the social media platform, as arranged by CoinTrendz. At press time, the cryptocurrency was mentioned in 5,522 tweets over 24 hours, which is marginally less than the apex cryptocurrency Bitcoin's (CRYPTO: BTC) 5,673 mentions.
The popularity of DOGE is on the upswing as can be evidenced from the fact that the meme coin is now more popular than BTC among eToro users in the United States.
Doggie Doodles: A good gauge of the strength of the Shiba Inu-themed coin is the popularity of its co-creator Billy Markus’ non-fungible token or NFT art.
The Dogecoin co-creator is a veritable doodle machine. On his website, Markus observed, “people are buying [the low effort Doodles] for some reason.”
A “Crappy Dogecoin Doodle” NFT that Markus created in his underwear attracted a bid of $3,192 last month — 1,500 times over his asking price.
Markus is releasing new Crappy Dogecoin Doodles every …