Dogecoin price skyrocketed as a popular trading app adds cryptocurrency for millions of new users

Due to client demand, eToro has added Dogecoin (DOGE) to its cryptocurrency trading platform. eToro’s 20 million global customers will now be able to trade the Shiba Inu-themed cryptocurrency.

Following reports that the famous online exchange site eToro will be offering the cryptocurrency to its users, the price of dogecoin has soared above $0.43.

Even ahead of SNL, the news helped lift the people’s coin’s market cap up over $50 billion, and it is now traded only a few cents from its all-time peak of $0.43.

This article is evolving and will be updated as more information becomes available.

Customers had chastised the trading app for failing to endorse dogecoin, the world’s sixth most expensive cryptocurrency, considering its phenomenal price gains in 2021.

Coinbase is another big website and exchange that has been hesitant to include dogecoin.

One explanation for this may be the instability, with analysts advising that even as opposed to other notoriously unpredictable cryptocurrencies, the opportunity for major gains comes with the possibility of massive losses.

However, Forsige has expected a $2 Dogecoin listing in 2022, despite the high level of expectation around Elon Musk’s SNL hosting.

According to the research, Dogecoin could hit $2 before the forecasted period, but a drop is also possible.

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