The currently popular crypto coin ‘Dogecoin’ continues to rise. On Monday, the currency’s value rose to a record high of 8.6 cents. A few weeks ago, the price was still close to 0. The coin is seen as a joke but is also actually traded.
Dogecoin – symbolized by a meme of a dog – was launched as a joke on the internet in 2013; a parody of the bitcoin madness. The cryptocurrency is now one of the ten largest digital currencies. All in all, there is more than $10 billion in Dogecoin in circulation.
After Dogecoin had already appreciated significantly in January, the coin received a huge boost last week, in particular after a series of tweets sent out by Elon Musk, CEO of electric car maker Tesla and space company SpaceX.
Musk has often tweeted about Dogecoin in the past, although he previously indicated that he does so for a joke. In recent days, the Teslatopman appears to be particularly enthusiastic about Dogetweets. So with consequences.
Other celebrities have also mixed themselves in the Dogecoin madness. Rapper Snoop Dogg has also called himself a fan, and Kiss frontman Gene Simmons has already made himself heard.
Elon Musk summarized the whole on Twitter with an edited image from ‘The Lion King’, in which the monkey Rafiki holds up the newborn lion Simba.
Musk had pasted his own head over Rafiki’s in an older Photoshop version and the head of Dogecoin’s dog over Simba’s. In the meantime, Snoop Dogg and Simmons Rafiki’s have been stuck in between.
Musk previously called Dogecoin on Twitter, among other things, “the cryptocurrency of the people”. The messages are instantly retweeted thousands of times.