The Dogecoin Price Breaks the Record Today, Good or Bad News?

The Dogecoin Price Breaks the Record Today, Good or Bad News?

One of the cryptocurrencies (cryptocurrency), Dogecoin has strengthened in price to break through to an all-time high.

The price of Dogecoin briefly touched the range of USD 0.76 per chip on Wednesday May 5, 2021. This figure even beat the previous high, where Dogecoin had touched a figure of USD 0.48 in April 2021.

The increase has been recorded since Tuesday this week. The price of Dogecoin, which was initially at USD 0.46, suddenly increased by 51.4 percent.

The increase in the price of Dogecoin is apparently a result of the online brokerage platform eToro, which now offers a new payment option in the form of Dogecoin.

According to Coin Desk, Thursday May 6, 2021. the decision was driven by high demand from eToro's clients themselves.

Based on the contents of the e-mail that was distributed to its customers, eToro stated that the addition of Dogecoin currency was part of the expansion of crypto services carried out by the company. "Under branding, Dogecoin is based on a strong technical foundation, using a proof of work mechanism, such as Litecoin or Bitcoin, with small but important differences," wrote eToro in the e-mail.

There are now more than 20 million eToro subscribers who can make transactions using the cryptocurrency represented by the "Doge" meme symbol.

The price of Dogecoin itself has shown a continuing upward trend since April 2021. Some time ago, Dogecoin also made a scene among cyrptocurrency traders. This cryptocurrency suddenly rose after receiving a promotion from the CEO of Tesla and SpaceX, Elon Musk.

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