It started out as a joke, but now it seems like the joke is from people who didn’t take Dogecoin seriously. Cryptocurrency meme Elon Musk would not stop tweeting about it has reached an all-time high. In accordance with Coindesk, has risen to 70.22% in the last 24 hours, the highest ever recorded. Currently (at the time of writing) the value of Dogecoin is $ 0.1222680, or almost 12 cents. DogeCoin’s market capitalization, which began as a joke and is literally classified as “memecoin,” currently exceeds $ 14 billion. This is the highest in the cryptocurrency, and the result of a semi-ironic move that has involved thousands of shoppers, tens of thousands of online posters and the world’s richest man, Elon Musk.
In early January, each witness was worth less than a penny. In late January, when both GameStop and DogeCoin moves made their way, the value of DogeCoin rose to 7.5 cents, well above a 10, before dropping to 2, 5 cents. The currency has spent between three and seven cents in recent months. On Sunday, its price began to rise, by about six cents, before breaking the 10-cent mark, reports CNET.
Understandably, Crypto-Twitter is excited.
Remember that some of you may have invested $ 1,000 #dogecoin 4 months ago and today you would have had $ 38,000. – BEN BALLER ™ (@BENBALLER) April 14, 2021
Elon Musk, CEO of Tesla, head of SpaceX and currently the richest person in the world, had announced that he “bought some Dogecoin for lil X, so it can be a headline for young children.” Dogecoin rose to 16% after the tweet, rising from $ 0.069 to $ 0.08.
Shiba Inu-themed digital currency topped 8 cents for the first time, just a week after it dropped to 2.5 cents and sparked a scream on Reddit. It rose 53 percent in the past 24 hours to 8.2 cents, surpassing its recent record of 7.8 cents released in late January.
What is dogecoin? Dogecoin, like Bitcoin, is a digital currency that is used for electronic transactions. Doge is a reference to the “doge” meme and has an image of the shiba inu. It is a cryptocurrency, a form of digital money that, similar to bitcoin, allows peer-to-peer transactions through a decentralized network.
Since its inception, Doge has also been used to donate money to charities. These have included the 2014 Jamaican Bobsled team that couldn’t afford to get to the Sochi Winter Olympics, a Nascar rider named Josh Wise and a clean water project in Kenya called Doge4Water.
At the height of the meme’s popularity in 2013, Palmer, an Australian marketer, made a joke combining two of the most talked about topics on the Internet: cryptocurrency and the Doge. He bought the domain Dogecoin.com and hung a Shibe with photoshop on a coin.
“If you want to make Dogecoin a reality, get in touch,” the website said. On the other side of the world, Billy Markus, an IBM software engineer, got in touch and put Dogecoin live. Dogecoin rose more than 60% in the last 24 hours and experienced a 1.421% increase in trading volume according to cryptocurrency firm CoinMarketCap.
The maximum price of Dogecoin in 2018 was about two cents, just before it fell along with the rest of the cryptocurrencies. Reports suggest that by early 2019, Dogecoin had lost almost 90% of its value and was trading a fraction of a penny so far.
Has the calculation of the world of cryptocurrencies finally arrived in the form of a dog witness that started as a joke?
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