Dogecoin has been having fun with an awesome 12 months because the COVID-19 pandemic. Whereas the worldwide economic system is reeling because of the pandemic. Initially, cryptocurrency began as a joke and has began gaining power. Now, Dogecoin has made it to the headlines, because of the tech billionaire Elon Musk.
Not too long ago, the CEO of SpaceX and Tesla who is understood for its cryptic tweets turned a sensation on social media as he posted a tweet supporting Dogecoin. He tweeted stating “Doge barking on the moon”, declaring to the cryptocurrency. Notably, this is not the primary time that Musk has tweeted supporting the digital forex. He additionally added to the continued buzz with the cryptic tweet stating “Going to the Moon very quickly”.
Since his tweet, Dogecoin reached an all-time excessive after 70.22% within the final 24 hours, which is the very best ever surge it has witnessed. Its present worth reached $0.122680, which is nearly 12 cents. The market cap of this cryptocurrency listed as a memecoin is now over $14 billion.
What Is Dogecoin?
Dogecoin options the Japanese Shiba Inu canine’s face, which originated as a meme of the canine together with inside dialog printed within the rainbow comedian with none font and damaged English. Initially, the meme took off in 2020 and was voted among the many high 10 memes of the 12 months in 2013. It was co-founded by IBM software program engineer Billy Markus and Adobe software program engineer Jackson Palmer.
Whereas it existed for years, it has been growing quickly lately. Now, Elon Musk took it to an all-new stage and its worth exploded in 2021. Many individuals imagine that Bitcoin is the long run cryptocurrency that may redefine the way in which the world works. Dogecoin that was as soon as an web joke has now turn into an icon internationally and some of the widespread cryptocurrencies everywhere in the world.
One of many main causes for the recognition of the identical is the surge within the platforms akin to Twitter and Reddit the place folks began utilizing the “To the Moon” reference to level out at Dogecoin. That is extremely used for cryptocurrencies after they attain actually excessive costs.
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