What started out as a joke is being taken seriously by more and more investors.
April 20, 2021
1 minute of reading
In the last week, the digital currency – modeled on the following year 2013 The popular “Doge” meme – soared 400% and became one of the top 10 cryptocurrencies on the market. Its $ 50 billion market cap is almost the same as it does Twitter (54.3 billion USD) and ranked above Ford Motor Co. (48.3 billion USD), Bloomberg report.
Dogecoin continued to rise in the early hours of Tuesday, April 20, with many fans using #DogeDay to celebrate cannabis smoking. However, since writing this, it has dropped to 34 cents per token.
In recent months, Dogecoin has risen thanks to support from companies like Slim Jim and tech figures like Elon Musk. However, some investors have expressed concern that the digital currency’s spike may cause potential bubbles.