Dogecoin is a cryptocurrency that started as a joke back in 2013. Just like bitcoin, Dogecoin is also a part of digital currencies. The meme currency recently turned out to be really profitable. Unlike other cryptocurrencies, Dogecoin is totally unpredictable right now. Back in 2015, Dogecoin creator sold all his coins to buy a Honda Civic. However, the meme currency is now bigger than the Honda. The co-creator of Dogecoin Billy Markus said:
I’ve always said was I sold everything for about as much as it would cost to buy a used Honda Civic. This was all my crypto too, I had Litecoin and Bitcoin and DOGE and a bunch of other ones,
Dogecoin has witnessed its peak during recent times but some rumors suggest that this surge might not last for long. The main reason why people are keen to invest in the dogecoin is that they expect its value to increase by two to three folds in the future, however, nobody knows what the real value will be some years later.
Elon Musk SNL Appearance and Dogecoin Rise
On 5th May, Dogecoin reached 0.69$ making it a new all-time high record. Dogecoin buyers expect that this crypto will reach 1$ soon.
In a situation like this, a new investor is easily drawn towards the new projects that have somewhat just got into the news but are still more affordable. The same happened when Elon Musk tweeted and in the next couple of days you can see a significant rise in the price. In the current price rise, one more thing contributed as an active factor, which is an announcement by two major exchanges that said, they will be listing Dogecoin for their usersKumar Gaurav
On 28th April, Elon Musk Tweeted “The Dogefather SNL May 8” and after the tweet, we witnessed a surge in the price of Dogecoin.
Dogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of Saturday Night LiveEdward Moya
Masab Farooque is a Tech Geek, Writer, and Founder at The Panther Tech. He is also a lead game developer at 10StaticStudios.
When he is not writing, he is mostly playing video games