Dogecoin ($DOGE) had a remarkable surge on April 2, gaining 9% in the last 24 hours and reaching its highest level since February 23. The popular meme-based cryptocurrency was created in 2013 by Billy Markus and Jackson Palmer, while crypto support from billionaires Elon Musk and Mark Cuban have helped make it the ninth most valuable cryptocurrency, with a market cap of around $11.46 billion. Crypto analytics firm Santiment reported on April 2 that addresses holding 10 million or more tokens had accumulated 1.47 billion tokens since January 1, valued at $123.1 million. TradingView data showed that the price of $DOGE on crypto exchange Binance rose to $0.0856 at 1:51 a.m. UTC, the highest since February 23. As of 10:23 a.m. UTC on April 2, the token was trading at $0.0826, an 8.12% increase in the last 24 hours.

The surge in the price of $DOGE appears to be due to several factors, including the large amount of coins held by whales and the growth of celebrity support for the cryptocurrency. In 2019, Elon Musk declared $DOGE might be his favorite cryptocurrency, while Mark Cuban has been vocal about his support for the coin. Furthermore, Burger King UK tweeted on March 31 that it was “trying to convince” its manager to let them have an office doge, signaling the start of the surge in prices. Cryptocurrency analysts have also had a role in the price rise, with pseudonymous traders Kaleo and Captain Faibik tweeting support for the token and bolstering its price.

Overall, Dogecoin has become an increasingly popular cryptocurrency, gaining traction among traders, investors, and celebrities and fueling a new rise in its value. This surge in worth may help the cryptocurrency break into the top 8 cryptocurrencies in terms of market capitalization, though this will ultimately depend on the ongoing success of Dogecoin and its future prospects.



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