Dogecoin price surges above $0.02 to hit new high

The price of the meme-themed cryptocurrency was on a tear Thursday morning, with market activity pushing its price well above $0.02 to hit a new all-time high.

The market advancement retreated after reaching roughly $0.027, with the price of DOGE falling below that level on Robinhood and other exchanges. Market data from TradingView shows that dogecoin started the day at about $0.0075. 

As of the time of writing, crypto exchanges and Robinhood appear to be trading between between $0.017 and $0.018, with the price of DOGE fluctuating around $0.017 on Robinhood.

Even with the renewed volatility, dogecoin's price is still up well over 100% on the day -- though the underlying factor is far from clear beyond a general environment of market euphoria. As Decrypt noted earlier this month, the meme-themed crypto is a favorite of entrepreneur Elon Musk, who periodically issues tweets about dogecoin. Others have noted that investors who congregate on the social media platform Reddit may be fueling the rise.

The price of dogecoin last reached similar levels in early 2018, when the price peaked around $0.017 per DOGE.

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