How ($DOGE) a Meme Coin became Bigger than Twitter, Ford & Ferrari

Published 05 May 2021 by Radhika Aggarwal

Table of Contents

  1. What on earth is Dogecoin?
  2. How can a meme currency with unlimited supply be worth 0.36$?
  3. Elon Musk when he was in the live chat on the audio app tweeted that

Do you know the largest cryptocurrency, Dogecoin with a market cap of $55.68 billion has become a point for people to joke about? Dogecoin is launched only just to make fun of Cryptocurrencies. A cryptocurrency is a form of digital asset used by people as a medium of exchange. The market cap of Dogecoin is rising day by day and crossing the price of the most expensive thing such as Ford, Twitter, and Ferrari. The problematic situation that people are going through today related to finance is how they can economically figure out the value of cryptocurrencies.

What on earth is Dogecoin?

Dogecoin started to make fun of cryptocurrency by taking its name and logo from a Shiba Inu meme that was popular many years back. Dogecoin was launched in 2013 and now it has been examined that there are around 100 million dogecoins that exist. It is based on Doge that interprets a cartoon version of Shiba Inu, a Japanese hunting dog. The value of dogecoin has surged 8000% in the past 24 hours with an all-time high at the time of writing (ATW) of $0.36 giving a market cap value to the cryptocurrency of $55.68 Billion. The Highest price up till now iS $0.45. Dogecoin is a form of digital money that facilitates transactions across a scattered network. On the other hand, if we compare Dogecoin with bitcoin, we will know that bitcoin is an original blockchain that tells how money functions in the 21st century whereas dogecoin is a digital coin having a picture of the dog on it.

How can a meme currency with unlimited supply be worth 0.36$?

Dogecoin was made as a joke to make fun of cryptocurrencies but it has been said that fate loves irony as Dogecoin will become the currency of earth in the coming years. Elon Musk, chief of Tesla Company tweets an example of a dog staring up at the night sky by giving a caption “Doge Barking at the moon”. In support of cryptocurrencies, Elon Musk again tweeted when he dubbed Dogecoin said, “People’s crypto,” and “No highs, no lows, only Doge”. The price of dogecoin has risen to $0.45 ATW. In today’s time memes play an important role in the life of cryptocurrencies and helps in moving the digital markets to the top.

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A few weeks ago, there were many memes made by people on Dogecoin. Elon Musk, Tesla’s boss made cryptocurrency popular due to which the current value of dogecoin has gone up to $0.45. The market cap of Dogecoin, literally listed as a ‘meme coin, is now $55.68B. The meme currency has jumped to this price due to Twitter and Reddit in which people used the term “to the moon” about dogecoin. This term is widely used when there is a rise in the price of the cryptocurrency. Musk again tweeted, “Going to the moon very soon”.

Elon Musk when he was in the live chat on the audio app tweeted that:

“Occasionally I make jokes about dogecoin, but they are meant to be jokes.”

After the tweets gave by Elon Musk and Mark Cuban, the price of Dogecoin has surged and called himself Dogefather. Musk is a supporter of Bitcoin already accepts bitcoin and said that the bitcoins tesla will ever collect by selling tesla cars will never be sold. Tesla also bought bitcoins worth 1.5 billion$ at around 33000$. Mark Cuban also tweeted when users asked him why he was backing dogecoin that:

“Doge is the one coin that people use for transactions”. “People spend their Doge and that means more businesses will start taking it.”

Many people buy cryptocurrency with the hope that it has any meaningful value, the price of it will rise in the coming years and they can sell the cryptocurrencies at a higher price. Nowadays Dogecoin has become a topic for people to talk and make memes about.

the dogefather

Many people buy cryptocurrency with the hope that it has any meaningful value, the price of it will rise in the coming years and they can sell the cryptocurrencies at a higher price. Nowadays Dogecoin has become a topic for people to talk and make memes about.

doge coin

We at cxihub.com offer trading pairs of doge in INR, BTC & USD. We also offer wallet service for doge with minimal withdrawal fees equivalent to the miner fees that the doge network requires and deposits free forever.

Elon Musk, the owner of Tesla an electric car making company $1.5 Billion in bitcoin and decided to accept it as payment. The company buys Bitcoin in order to bring:

“more flexibility to further diversify and maximize returns on our cash.”

In the coming years, the company will be going to accept bitcoin as a medium of exchange. Elon Musk tweeted regarding the increment in the prices of cryptocurrencies such as Bitcoin and Dogecoin so that it will encourage people to buy more digital currency. He said in his chat on Twitter that:

“I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin.”

supporter of bitcoin

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