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: