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Dogecoin [DOGE] continues to beat the market with 9.9% growth: Penny stock miracle?

Anirudh VK

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Dogecoin [DOGE] continues to beat the market with 9.9% growth: Penny stock miracle?
Source: Unsplash

Dogecoin [DOGE] continued its bull run even as the market struggles to find a firm footing. The recent hike by the coin is indicative of the steady upward hike it has been undergoing in the past month.

The coin is currently at a growth of 9.92% over the past 24 hours, as it continues to ride on the hype of the Dogecoin Ethereum bridge known as Dogethereum. Moreover, the coin has recently been listed on a multitude of trading platforms such as Robinhood, Yahoo Finance and Poloniex. These exchanges have added DOGE/USDT trading pairs and thus allowed for more capital to enter the market.

Dogecoin [DOGE] 7-day price graph | Source: CoinMarketCap

Dogecoin [DOGE] 7-day price graph | Source: CoinMarketCap

On this momentum, the coin doubled its value over the last month. While it was trading at $0.0025 on 28th August, a bull run on 30th August hiked its value to $0.0066. This allowed Dogecoin to maintain a growth percentage of 153% in a bear market.

Dogecoin is currently trading at $0.0067. This comes after its rally from $0.0050 on 7th September to $0.0054. This was followed up with another hike on the next day and went up to $0.0058. This represented a 12% growth.

More recently, the coin began a hike from the $0.0054 mark up to $0.0058, before dropping from $0.0057 to $0.0054 on 9th September. It hiked again to $0.0061 on 10th September, proceeding which it went up to $0.0068 on 11th September to present a growth of 29% over 7 days.

Market analyst Iarius Germund stated:

“It’s not very often when you see the underdog beat established coins such as Bitcoin and Ethereum in terms of pure growth. Over the last month, Dogecoin has a growth percentage of 186%, even when the market is constantly fluctuating due to regulatory uncertainty.”

Cryptocurrency enthusiast Jan Yakira said:

“The cheap cost of Dogecoin allows investors to get into it with a very small amount of capital, much like pocket change can be converted into savings. This also allows for high volume purchasing and generally multiplicative properties. Mainstream trading platforms allowing for the trading of Dogecoin will allow experienced traders to test the waters.”





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

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