It’s fair to say that the cryptocurrency that was made as a joke, Dogecoin, is now one of the most famous cryptocurrencies in the world, all thanks Elon Musk. Ever since the multi-billionaire took a certain interest in this cryptocurrency, he has been promoting it on his social media, which has sent the value of dogecoin rocketing high in the recent months.
It all started with Elon Musk making memes on Dogecoin, and talking about it being the “people’s crypto” on his twitter.
Elon Musk on Saturday Night Live
This particular crypto has also been in recent talks ever since Elon Musk’s appearance on Saturday Night Live (SNL). Musk’s appearance as a host on the show had been highly anticipated, as many people guessed that this will lead to a change in the value of dogecoin. However, while most people anticipated that the value will be rising, it has taken an unexpected turn, and dipped sevaral points after Musk’s appearance on SNL.
Already various memes were being made on Dogecoin, but the dip in it’s value after the SNL episode has caused even more memes to be made on it by netizens, and if you are an investor in dogecoin, you’ll certainely relate to these.
Here are some of the best memes on the crypto Dogecoin
Elon Musk’s promotion for Dogecoin
The cryptocurrency has been made popular by Musk, and reached an all-time high last month after a 70.22 per cent in 24 hours, the highest ever surge it had seen. This took Dogecoin’s value to $0.122680 or almost 12 cents. The market cap of Dogecoin, literally listed as a ‘memecoin’, touched over $14 billion.
The surge experienced by Dodgecoin was incredible, since it was less than a cent at the start of this year. It shot up to 7.5 cent before going down to 2.5 cents. Dogecoin spent last few months between three and seven cents range. However, the crypto got the boost when its price began to rise again, before smashing the 10-cent milestone.
What is Dogecoin?
Dogecoin is a cryptocurrency which was created in the December of 2013, by two software engineers Billy Markus and Jackson Palmer. It is a digital currency just like Bitcoin, used for e-transactions. Hilariously, the coin got its name from a ‘doge’ meme and has a picture of the shiba inu on it.
The currency came into global prominence after Tesla’s chief executive officer (CEO) Elon Musk, rapper Snoop Dogg and rock band Kiss’ bassist Gene Simmons mentioned it on Twitter.