There have been extra mentions of the meme coin ICO Analytics. It even overtook the most important cryptocurrency by market cap: .within the final month on Twitter than another cryptocurrency, in response to knowledge from crypto tracker
As per the tracker, Dogecoin commanded 10.4% of all crypto-related mentions on the social media web site in February. Bitcoin, however, logged in a barely decrease quantity at 10.1%.
The coin’s mentions had been ten occasions greater than that of
—an Ethereum-based decentralized alternate that has 17,000 energetic customers.
Dogecoin was based as a “joke” foreign money in 2013 that includes a Shiba Inu canine as a mascot. As we speak, the cryptocurrency is valued at over $6.5 billion and isn’t any stranger to being well-liked—with celebrities, rock stars, and tech entrepreneurs, and even authorities officers mentioning the coin on social media.
Certainly one of Dogecoin’s largest followers is Tesla CEO Elon Musk, who has referred to himself because the CEO of Dogecoin up to now. The 49-year-old went on a tweeting frenzy in February with Dogecoin in focus, implying the coin would go to the moon in a single such tweet.
The Dogecoin rocket wasn’t restricted to Musk and Twitter. It turned one of many speaking factors on video app TikTok in 2020—even sparking a Dogecoin ‘Challenge’, which trended for a number of days.
Such reputation has induced the altcoin’s costs to surge skyward. As per markets software CoinGecko, DOGE went from below $0.002 in January 2020 to an all-time excessive of $0.083 final month—a 4050% improve.
In the meantime, Dogecoin has been criticized for just a few causes. A single deal with holds over 27% of its complete provide—sparking issues about its costs being artificially inflated. It’s a degree that appears to irk Musk as effectively. It is community hadn’t had any energetic improvement for a very long time, inflicting some points with making transactions, however a new update put out earlier this week hopes to repair that.