Dogecoin is a meme-based token that has increased by 12,000% since the beginning of the year. One of the reasons behind Dogecoin's price hike is Elon Musk, the Dogefather. As a major DOGE advocate, Musk has fuelled the token's price surge through multiple tweet updates.
DOGE's all-time high was achieved on May 8 when the token traded for $0.731. However, shortly after Musk's appearance on Saturday Night Live, DOGE dived and dropped by over 30%. The token has since been showing resilience, and at the time of writing, DOGE was trading at $0.42.
