DodgeCoin reached an all-time high of $ 0.74 in the first week of May (Dogecoin was priced at Rs 54.06 in India at the time), but it has fallen in the last two weeks. The recent crypto market crash affected Dodgecoin as well as other cryptocurrencies – for example, the bitcoin price in India fell to Rs 25,34,271 earlier this week . At the same time, bitcoin was at an all-time high of Rs 48,79,220 in April. DodgeCoin also fell nearly 50 percent from its all-time high on May 23 and was trading at Rs 21. However, since then the prices of both of them have increased slightly and till the time of writing the news they were trading at Rs 27,07,000 and Rs 23.30 respectively.
Now the big question for every investor is whether DodgeCoin has stabilized? After seeing a 50 per cent drop, the coin has now gained about 5 per cent. The coin reached its lowest level after the May 23 crash and since then the coin has been stable on the Coindesk chart and has been climbing at a very slow pace.
From the stability shown by DodgeCoin in the last few days, it is difficult to say that the coin will perform as before, but its price has reached the price before it gained tremendous momentum in April. Tech billionaire Elon Musk enjoys raising the price of Dodgecoin through his tweets and his tweets can also be attributed to this increase. Tesla and SpaceX CEOs began tweeting about it in February, when the meme currency was unknown and all attention was focused on the world’s largest cryptocurrency, bitcoin.
These tweets led to a 50 percent increase in Dogecoin. The market crash certainly affected all crypto tokens, including DodgeCoin, but news of Musk working with Dodge’s developers on system transaction efficiency has made this coin stable. Musk also says that he will continue to support all cryptocurrencies, as they have the potential to become the future currency of the Earth.
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