When Elon Musk supported Doge Coin the price of this coin increased a lot and since then this coin has become very popular. But we have never heard about this coin or seen its price increase before that. When Elon Musk supported this coin many investors invested in this coin and they earned good profits. Currently the price of this coin is $0.08 in the crypto currency market. We can expect that the price of this coin will definitely increase when the bullrun starts in the market.
Before Doge coin became popular it was considered a joke coin. First a tiktok trend was started by a few influencers who wanted Dogecoin to pump. They were informing the reason why everyone should invest in it. The trend became popular and was noticed by Elon Musk. He announced that Tesla would accept the coin in place of Bitcoin causing the coin to spike and the rest is history. Those who invested in the coin when it spiked are now the ones who are waiting for another spike so that they can book profit. The problem here is that that number is very big than those who were early adopters.