Markets are complex systems and defy simple explanations, but many analysts make a living from ignoring this fact and making it seem like everything can be summ

Markets are complex systems and defy simple explanations, but many analysts make a living from ignoring this fact and making it seem like everything can be summed up in a 10 second soundbite. That sell was a drop in the bucket compared to the volume dogecoin has seen on the exchanges in the past 24 hours. Rumors abound about why the price has skyrocketed but I think that it boils down to a few things: - dedicated, welcoming community - coin ecosystem: well-orchestrated launch, smart developers and pool operators, etc. - increased hashrate, second now only to that of bitcoin and litecoin. This is partly from the community and partly from speculators: success breeds success. - lots of good publicity