Dogecoin Surpasses $0.20 Level

The meme cryptocurrency Dogecoin, known for its iconic Shiba Inu dog as its symbol, unexpectedly gained value, jumping by 10% and surpassing the $0.20 level for the first time since December 2021.

According to data from Coinmarketcap, the current price of Dogecoin is currently $0.2143, representing an increase of 13.5% in one day and a whopping 34.6% over the past week. This surprising resurgence of the cryptocurrency, which has long remained in the shadow of more serious cryptocurrencies, is notable.

The last time Dogecoin reached the $0.20 level was on December 4, 2021, making the current increase significant. However, it is still far from the cryptocurrency's historical peak of $0.73, reached in May of the same year during a period of exceptional cryptocurrency market activity.

What prompted this sudden increase?

Some speculate that it may be related to statements made by a Twitter chatbot named Grok, which suggested to users the possibility of Dogecoin payments on the platform. However, as observers note, no such functionality has been officially introduced yet.

The Dogecoin developer, known as Mishaboar, also expressed speculation on Twitter, suggesting that cryptocurrency payments on the platform could be introduced "much earlier" than within five years, though "probably not before next year." He argued that other payment services, such as PayPal, already offer cryptocurrency support, which may motivate Twitter to accelerate its plans.

*this is not financial advise