Dogecoin and Ethereum are at the forefront of today’s surge in cryptocurrency prices, with DOGE now surpassing $0.09 and eyeing the significant level of $0.1.
Over the past 24 hours, DOGE has risen by over 8%, and its price doesn’t show any signs of slowing down. Let’s take a closer look at the potential reasons for this upward trend.
DOGE Price Ready for $0.1
The majority of the cryptocurrency market is experiencing a boost, with most cryptocurrencies trading positively, as seen in the heatmap below.
Most altcoins are performing well, but DOGE and ETH are leading the way. While the reason for ETH’s increase seems to be that the Shanghai upgrade did not cause as much selling pressure as expected, DOGE’s surge may be more unexpected.
Reports emerged yesterday that Twitter has partnered with fintech firm eToro, which primarily deals with retail-oriented finance, to enable users to access stocks, cryptocurrencies, and other financial assets. It is well known that Elon Musk is a vocal supporter of Dogecoin and doing his best to encourage mainstream adoption. DOGE might well become one of the first cryptocurrencies that Twitter enables purchases for.
Elon Musk Offers 1 Million Dogecoin
Another reason behind the recent surge is an offer made by Musk. He pledged to give one million DOGE to anyone who could locate a mine purportedly owned by him and shrouded in speculation.
There have been rumors for some time that Musk’s family owns an emerald mine in Zambia; these rumors have been circulating since 2018. Adding to the intrigue, a former US Secretary of Labor and Berkely professor, Robert Reich, posted a video claiming that Musk’s family owned an emerald mine in South Africa. It argues that the seed money from the mine paved the way for Elon Musk to become the billionaire he is today.
Yesterday, on April 13th, Elon Musk said:
I will pay a million Dogecoin for proof of this mine’s existence!
Whenever Musk mentions DOGE, the price tends to react, and this time was no exception, with an increase of around 6%.