Today, the Twitterverse had suggested a match that captured the attention of electric car company CEO, crypto enthusiast, and exchange consumer Elon Musk: “Should Coinbase integrate Dogecoin?” and responded with an exclamation “Yes!”
Yes!
— Elon Musk (@elonmusk) March 13, 2021
More frequently than not, Musk is said to be acquainted with crypto. An SEC filing revealed that in the month of February revealed that Tesla had recently purchased $1.5 billion in BTC. But before that, the single DOGE tweet which contained a mention of Elon caused the Dogecoin price to increase 40% in half an hour.
Today, the Twitterverse had suggested a match that captured the attention of electric car company CEO, crypto enthusiast, and exchange consumer Elon Musk: “Should Coinbase integrate Dogecoin?” and responded with an exclamation “Yes!”
DOGE prices have definitely risen in the wake of Musk’s tweets, almost as surely as they have fallen. On the other hand, his tweet may have caused a 4% price drop in DOGE, but the relationship between the value of that and the duration of his tweet’s time should be taken into consideration.
What has contributed to the recent success of Dogecoin is the hype generated by large investment funds on social media that began as a joke in 2013.
What is DOGE?
Dogecoin is a cryptocurrency focused on the famous meme Doge and features a stylized drawing of a Shiba In on the front. Litecoin was created as a spin-off of Dogecoin. Dogecoin was presented as a novelty currency on December 6, 2013, and reached a capitalization of $60 million in January of the following year
Dogecoin is by far the abundant in terms of supply for a cryptocurrency: mid-2015 it had 100 billion coins, and then an extra 5.2 billion a year As of June of 2015, it mined one billion Dogecoins.
Many analysts have noticed that Dogecoin’s own ecosystem is engaged in relevant and popular material inside the network.
In return for DOGE, members talk about currency in exchange for actual things, including Reddit and Twitter.
Dogecoin has an Internet meme-inspired emblem and it is based on the well-known Doge cryptocurrency. In other words, Dogecoin is like Litecoin except much better. Dogecoin appeared on the market on 6 December 2013 as a “joke currency,” with a total capitalization of 60 million dollars.
The Dogecoin project had a much greater initial coin distribution: a total of 100 billion coins is made available at the start of the year and an additional 5,256 billion at the end of year as of 30 June, Dogecoin has been mined one billion times over the course of this year.
People from Portland, Oregon, Billy Markus, and his Australian buddy Jackson Palmer, all went on to establish Dogecoin. Widescale outside the core bitcoin culture, the blockchain was developed to welcome new participants.
Tipping with dogecoin is mostly performed on Reddit and Twitter. Many notable fundraising efforts have been done for worthwhile organizations in the city.
