DogeCoin tops 50 cents: Why that excites the internet

DogeCoin just hit 20 cents: Why that has the internet excited

And the moon.

Initially designed by DogeCoin Parody for cryptocurrency, Reaching a height of 51 cents on Tuesday morning, a record for cryptocurrency that was worth 5 cents in March. DogCoin’s market cap – which started as a joke and is categorized as “literally”.A memorandum“- currently exceeding $ 67 billion.

It is the culmination of a semi-irony movement that includes thousands of shoppers, thousands of online posters and the world’s richest man, Elon Musk. The way the Wall Street Bets of the Reddit community rallied to try Pump up GameStop stock up to $ 1,000 per share (This rose to $ 483, lower than the target but a dramatic spike from the 52-week low of $ 3.77), with the cryptocurrency community joining the idea of ​​sending “DogAnco” for 10 cents. Now it has increased from that goal and the last few.

In early January, the value of each token was less than 1 percent. In late January, when both Gametop and DogCoin movements hit their stride, DogCoin’s value rose to 7.5 cents before slipping to 2.5 cents. Sikka has spent the last few months in the 3- to 7-percent range. In April, it shot the last 40 cents, and on Tuesday, Climbed the last 50 cents.

An increase from 10 cents to more than 25 cents could be the result of Doge’s highest-profile supporter, Elon Musk, tweeting support for cryptocurrency in April.

Another possible cause of the increase was an accident Popular Investment App Robinhood. Users found that their orders associated with DogCoin were listed as “pending” for an extended time, leading some to think it was replaying Robinhood’s controversial decision to stop selling GameStop stock When it was skyrocketing in value. company Tweeted An issue with orders has been resolved on Thursday.

If you are familiar with cryptocurrency, then you know Bitcoin and maybe Ethereum. They are the two largest cryptocurrencies, but beneath them is a whole market of smaller ones called “altcoins” – or sometimes, “shitcoins”. These are like the penny stocks of the cryptocurrency world. The utility of the Eutherem blockchain, or the many purposes or claims of improvement, on the basis of which most altcoins are made. Others are “memorable”, which is only due to the rise and fall in popularity because they are funny in a way.

Created in 2013, DogCoin was the first such memorabilia. There are many others, and they are already ready. The one called Meme was launched last August for $ 1 and now trades over $ 2,000.

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