Dogecoin is making headlines as its inventory value has skyrocketed in current weeks.
In case you are questioning what Dogecoin is, let me allow you to.
Dogecoin is a cryptocurrency launched by software program engineers Jackson Palmer and Billy Markus in 2013. It was initially a joke – onerous to consider, but it surely’s true – marketed as a “enjoyable” model of Bitcoin.
Dogecoin’s mascot is a picture of a canine, Shiba Inu, a well-liked “Doge” meme.
Little did the founders know that the worth of their “web foreign money” would choose up a lot steam in future.
So, who’s behind its reputation?
Effectively, considered one of many causes is unquestionably Tesla (TSLA) – Get Report CEO Elon Musk.
Musk, who has over 44 million Twitter (TWTR) – Get Report followers, has been tweeting about Dogecoin lots, which is how many individuals would possibly get to find out about it.
In April 2019, he even stated that Dogecoin is likely to be his favourite cryptocurrency.
He tweeted about Dogecoin at the very least twice in 2020, the place in considered one of his tweets, Musk stated, “One phrase: Doge.”
On January 28, when Dogecoin inventory was spiking, he tweeted a pretend cowl model of Vogue with a canopy title “Dogue.”
And Musk is way from alone in his devotion to cryptocurrency’s greatest buddy. Gene Simmons and Snoop Dog have additionally voiced their help of Dogecoin on Twitter.
