Why Sudden surge In Value of Dogecoin
As we see all of sudden surge in the value of Dogecoin on 4th may of 2021 from value 700satoshi to 1088satoshi that means 24% increase in the value of this cryptocurrency in 24hours . This kind of boom have not seen in this currency. this open market coins produce own value of itself by selling and purchasing mood of human being .
This currency doesn't affect by economic growth, market mood ,any good or bad economy, countries central bank background or their wallets and their governance of country.
Just by purchasing of these virtual coin by some big people in large quantity from market make it more valuable and which increase its demand. but these people also take advantages of these coin by suddenly sell part of these coin after getting their profit and increase in quantity of these coin in market and which decrease its value by this activity. So there is no barrier to control these kind of up and down in valuation at online platform.
But people also take too much interest in these kind currency because they are waiting to end in differences between in Dollars, euros, Yens and other third world countries currency means they are waiting for one currency to do business in world.
Otherwise we will see so many people loose their money because of few people who are controlling this virtual coin market.