What are the drivers of the crypto price? For example, if we take DogeCoin, why didn’t it skyrocket after all the attention it received? Investor confidence, company performance and volume is what drives a stock. What drives crypto? In other words, what needs to happen for a Crypto like XLM to soar?

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Good questions:

First, do you research on coins. Doge is literally a shitcoin - meaning it provides no value other than a pure store of value on a blockchain. BTC is the champ store of value coin - anything trying to compete is a joke (literally - DOGE was literally a joke).

So, a partial driver of price of coin is the actual value it provides. Eth, for example, is the gas that makes the Ethereum network go. It’s a huge value beyond just an investment vehicle.

Second, look at the market cap of the coin - this is important for supply/demand. If Doge went to $100, let’s say, it’s total market cap would be higher than BTC because there’s so many more doge coins available. That’s obviously absurd. There are websites where you can see how much a coin will be worth at certain market caps. Use these to estimate a coins best day with a reasonable market cap (what’s reasonable? I don’t know. A quarter or less the market cap of BTC maybe?)

likeuplifting

Thank you.

It did skyrocket after all the attention it received lol

Fine, fine. BTC follows ETH and ALTs follow both lol

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