Dogecoin Surges 16% to Continue Its Thanksgiving Celebration

A continuous increase in Doge –

A continuous increase in Dogecoin is noticed. It has been rose to more than 16% over the last 24 hours and is up more than 50% since last week. It started growing rapidly from the occasion of Thanksgiving.

The meme coin increased 16% over the previous 24 hours & was trading at more than $.10 cents. The main reasons for this specific hike are not known and there are not any logical reasons yet.  But social media influencer David Gokhshtein mentioned the possibility of Elon Musk and Ethereum co-founder Vitalik Buterin working together on the DOGE improvement.

“I feel that we’ll all see Vitalik and Elon working together to somehow upgrade $DOGE,” Gokhshstein wrote on his Twitter wall.

Market improvement after FTX Collapse –

After the FTX collapse. The market price was fluctuating of both robust and new crypto assets. But this rise in market price has been a positive sign for market stability. As BTC was recently trading at about $16,500.

Also, Ether, the second largest crypto asset in market value, was recently at about $1,200, roughly flat from Saturday.

The stock trading market was moderate last Thursday with many businesses closed, including major financial services firms. This may have resulted in a market surge in the Crypto asset market.

Market Experts on current market Condition –

“It’s trying to stabilize around the $15,500-$17,000 region and weather the storm but I’m not sure it will be that easy,” wrote Craig Erlam, senior market analyst for foreign exchange market maker Oanda.

“There’s likely more to come from the FTX collapse and the contagion effects, not to mention potentially other scandals that could be uncovered,” Erlam wrote. “This may continue to make crypto traders very nervous and leave the foundations supporting price extremely shaky.”