Dogecoin Surge Inflates the 'Animal Sector' Bubble

During the correction phase of the crypto asset market, Dogecoin DOGE put on a crazy performance. In the week from April 14th to 20th, it skyrocketed from $0.081 to above $0.4, with a 7-day gain of 400%. This 'joke coin' born in 2013 even broke out of the crypto circle. Dogecoin not only made it to the trending list on mainstream social platform Weibo, but also appeared in The Wall Street Journal. Elon Musk, the long-time advocate and 'chief spokesperson' for DOGE, once again shouted the slogan 'To the MOON'.