Dogecoin investors took to Twitter Wednesday to try to push the value of the meme-based cryptocurrency to $1 in value.
Why are Dogecoin investors trying to reach $1 now?
Social media users tweeted their beliefs in Dogecoin using the hashtag #DogeCoinTo1Dollar, which was one of the top trending hashtags Wednesday morning.
Another reason for the spike is that Coinbase Pro announced Tuesday that Dogecoin will soon be made available on its assets exchange platform, where trading is allowed.
- Doge will be available for trading on Coinbase Pro — a digital assets exchange website — beginning at 10 a.m. MT on Thursday, as I wrote for the Deseret News.
- However, Dogecoin won’t be available on Coinbase.com or the consumer mobile apps, like the Coinbase app, just yet. A separate announcement will come if that happens, Forbes reports.
Dogecoin and the $1 push
Over the last few weeks, Dogecoin investors have been working to push the value of a single dogecoin to more than $1. The coin was worth about $0.42 on Wednesday morning. It’s hovered in the $0.30 to $0.70 range in recent weeks, which is a huge jump from when it was worth $0.005 on Jan. 1.