On Friday (May 7), just one day before Tesla CEO Elon Musk’s appearance on TV show Saturday Night Live (SNL), the Dogecoin ($DOGE) went above the $0.68 level. Crypto analyst and influencer Ben Armstrong feels confident that $DOGE is headed to $1.
Data by TradingView indicates that at 21:19 UTC on May 7, on crypto exchange Bittrex, the $DOGE price reached an intraday high of $0.6850.
Currently (as of 22:00 UTC on May 7), Dogecoin is trading around $0.6783, up 17.53% (vs USD) in the past 24-hour period. As for the year-to-date period, $DOGE is up an insane 14,332% vs USD.
Earlier today, Armstrong, who is the host of YouTube channel “BitBoy Crypto” had this to say about Dogecoin:
“I think it can definitely get to a dollar. I mean I don’t think there’s a question about it at this point. I think there’s just a matter of time. Now how far above a dollar can it get, I would argue not very far. I mean a lot of these guys that have been talking about having the diamond hands… a dollar’s the target…
“It far exceeded my expectations for this bull run… I bought some Dogecoin over the weekend. It’s doing really well, but it’s definitely not something I’m looking to have long term in my portfolio…“
On-chain analyst “Dilution-proof”, who writes for Bitcoin Magazine, says “the activity on the Dogecoin subreddit has been on a league of its own this week.”
Cryptocurrency social media analytics platform LunarCRUSH said a few hours ago that out of all top 10 cryptoassets by market cap, in terms of “Twitter Volume + Bullish Sentiment”, over the last seven days, Dogecoin came out in first place.
This is what pseudo-anonymous crypto analyst and trader “Kaleo” had to say about Dogecoin’s recent price action:
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.