It started out as a joke, but now the joke seems to belong to people who didn’t take Dogecoin seriously. Coin Elon Musk would not stop posting on Twitter has reached an all-time high. Conformable Coindesk, rose to 70.22% in the last 24 hours – the highest ever recorded. Currently (at the time of writing) the value of Dogecoin is $ 0.12222680, or almost 12 cents. DogeCoin’s market cap – which started as a joke and is literally classified as a “memecoin” – is now over $ 14 billion. This is the largest cryptocurrency record and the result of a semi-ironic move that involved thousands of shoppers, tens of thousands of online posters and the richest man in the world, Elon Musk.
At the beginning of January, each token was worth less than a cent. At the end of January, when both the GameStop and DogeCoin moves took a step forward, the value of DogeCoin reached 7.5 cents, well above a 10-point increase, before slipping to 2.5 cents. The currency has spent the last few months in the range of three to seven cents. On Sunday, its price began to rise, by about six cents, before breaking the 10-cent mark, reports CNET.
Crypto-Twitter is understandably excited.
Remember, some of you could have put up $ 1,000 #dogecoin 4 months ago and today you would have had $ 38,000. – BEN BALLER ™ (@BENBALLER) April 14, 2021
Tesla CEO, head of SpaceX and currently the richest person in the world, Elon Musk had announced that he “bought some Dogecoins for lil X, so that he can have a small child”. Dogecoin grew by up to 16% following the tweet, rising from $ 0.069 to $ 0.08.
Shiba Inu-themed digital currency surpassed 8 cents for the first time, just a week after it collapsed to 2.5 cents and sparked a cry on Reddit. It rose 53% in the last 24 hours to 8.2 cents, a recent record of 7.8 cents posted at the end of January.
What is dogecoin? Dogecoin, like Bitcoin, is a digital currency used for electronic transactions. Doge is a reference to the “doge” meme and has a shiba inu image on it. It is a cryptocurrency, a form of digital money that, like bitcoin, allows peer-to-peer transactions in a decentralized network.
Since its inception, Doge has also been used to donate money to charities. These included the 2014 Jamaican bobsled team that couldn’t afford to get to the Sochi Winter Olympics, a Nascar driver 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 discussed topics on the Internet: cryptocurrency and Doge. He bought the Dogecoin.com domain and uploaded a photoshopped Shibe to 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, a software engineer at IBM, got in touch and put Dogecoin live. Dogecoin has grown by more than 60% in the last 24 hours and recorded a 1,421% increase in trading volume, according to cryptographic data company CoinMarketCap.
The maximum price of Dogecoin in 2018 was about two cents, just before it collapsed 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 bill finally arrived for the crypto-currency world in the form of a dog-themed token that started out as a joke?
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