![]() ![]() In early 2021, fans committed to boosting Dogecoin’s value “to the moon” on Reddit’s WallStreetBets message board, which was the primary reason for the GameStop incident in January 2021 (that was before discussion pertaining to cryptocurrencies was banned on the subreddit). ![]() DOGE hit an all-time high of $0.73 on, thanks to Tesla CEO Elon Musk’s upbeat comments. The token has increased by about 7,000% to date. It was inspired by the Doge meme that swept the Internet in 2013. What is Dogecoin?ĭescribed as a “meme cryptocurrency”, Dogecoin (DOGE) was created as a derivative of the Litecoin code. Musk also labelled Dogecoin the “people’s crypto,” promising to install a physical Dogecoin token on the moon.Īs of 04 January 2022, Dogecoin is currently trading at ₹13.5785 per coin. Elon Musk, the CEO of Tesla, is a fan, describing Dogecoin as his favourite cryptocurrency. ![]() Despite the fact that Dogecoin’s market size is nothing near that of Bitcoin, according to CoinMarketCap, the ‘joke’ currency’s market cap has climbed from more than $1 billion in early January to $47 billion in June 2021.ĭogecoin’s value soared by more than 5,000% in 2021, proving that it is no longer a joke. Billy Markus and Jackson Palmer came up with the concept for a “funny” coin in late 2013 and reasoned that a more amusing coin, rather opposed to the image of Bitcoin, would have a better chance of gaining popular adoption. With a comical and pleasant marketing image, Dogecoin aims to provide a welcoming introduction to cryptocurrencies. ![]()
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