Dogecoin Worth Tracker, Replace as Joke Cryptocurrency Continues to Climb
Dogecoin, the meme cryptocurrency, continues to rise following Tesla’s announcement Monday that the electrical automobile maker has invested $1.5 billion in Bitcoin, the world’s first cryptocurrency, in addition to current tweets from Tesla CEO Elon Musk and different celebrities.
On Tuesday, Dogecoin (listed as DOGE on the cryptocurrency market) was priced at $0.077943 USD, with a 24-hour buying and selling quantity of $9,583,355,436 USD. Its newest worth marked a 7.28 p.c enhance within the final 24 hours, on the time of reporting, in response to CoinMarketCap, which seems at cryptocurrency values.
On Monday, Dogecoin was reported to have soared by as a lot as 31 p.c Monday following tweets from Musk, rapper Snoop Dogg in addition to the musicians Gene Simmons from Kiss and Kevin Jonas from Jonas Brothers this weekend.
Following the movie star nods on Twitter, Dogecoin’s worth rose by a file excessive of over 55 p.c on Sunday, in response to Coindesk, which additionally screens cryptocurrency costs.
Musk tweeted a YouTube video highlighting the current rise of Dogecoin with the phrases: “Ð is for Ðogecoin! Tutorial video.”
The video was initially posted by YouTube consumer ZimoNitrome with an outline noting: “To the moon! 2021 Dogecoin ALIVE!”
On Saturday, Snoop Dogg tweeted a picture of a Shiba Inu, the canine breed that impressed Dogecoin’s branding, superimposed on the quilt of his R&G (Rhythm & Gangsta): The Masterpiece album. The tweet merely included Musk’s Twitter deal with “@elonmusk” as its caption.
Simmons tweeted a picture of himself with the phrases “God Of Dogecoin,” whereas Kevin Jonas tweeted: “All I am saying…$doge.”
On Sunday, Musk additionally tweeted a cartoon depiction impressed by The Lion King movie sequence, with Musk holding Simmons and Snoop Dogg up within the air, whereas the rapper held a Simba character bearing the face of a Shiba Inu canine in the direction of the sky.
The worth of Dogecoin, which launched in 2013, has risen by over 1,600 p.c thus far this 12 months, The New York Occasions reported.
As of Tuesday, Dogecoin is the tenth largest cryptocurrency by market cap worth, which measures “the overall market worth of a cryptocurrency’s circulating provide,” in response to CoinMarketCap.
Dogecoin’s resurgence was first sparked by the current spike in GameStop share costs, which was pushed by investments from customers on the subreddit r/WallStreetBets.
Its worth surge additionally got here after the inventory buying and selling app Robinhood restricted its customers from GameStop shares.
Dogecoin’s rise was fueled by members of the subreddit r/SatoshiStreetBets—which describes itself as “the crypto model of WallStreetBets.” Impressed by the GameStop shopping for frenzy, its members needed to aim to do the identical for Dogecoin.
Members of r/SatoshiStreetBets in addition to one other subreddit r/dogecoin have beforehand mentioned they hope to drive Dogecoin’s worth to succeed in not less than $1 per coin.
