Dogecoin become a top in the future

BestMakeMoneyIdeas April 24, 2021

Dogecoin has the potential to become a top cryptocurrency in the future

‘What Do the Future Hodl?' tweets Elon Musk. DOGE is increasing in value.

Tesla's CEO is at it once more. If not directly endorsing Dogecoin (DOGE), Elon Musk also tweeted, "What does the future Hodl?" comes at a time when DOGE is on the rise.

The next day, DOGE was ranked 7th in terms of market capitalization among the most successful cryptocurrencies. Furthermore, the meme-inspired coin was said to have increased by over 330 per cent in that week. Ripple (XRP), which had only risen by 64 per cent in the same period, was largely overshadowed.

Even earlier in the year, Musk's tweets had a similar impact. For example, at the beginning of February, he simply tweeted: "Dogecoin is the people's crypto." DOGE's value increased by 75% as a result of this. The altcoin's all-time high was $0.087 at the time.

DOGE's rise drew attention and support from several high-profile figures. For example, Mark Cuban. On the same day that DOGE reached its all-time high, he announced that his basketball team, the Dallas Mavericks, had set a 24-hour record for cryptocurrency merchandise sales.

So far, Dogecoin has had a great year. Even as the world economy struggles to cope with the effects of the Covid-19 pandemic, the cryptocurrency that started out as a joke has risen in power. Dogecoin caused quite a buzz on social media thanks to Elon Musk, the tech billionaire.

What Is Dogecoin and How Does It Work?

Dogecoin (DOGE) is a cryptocurrency that is based on the famous Internet meme "doge" and has a Shiba Inu as its logo. The open-source digital currency was forked from Litecoin in December 2013 by Billy Markus of Portland, Oregon, and Jackson Palmer of Sydney, Australia. Since it was built on a dog meme, Dogecoin's developers envisioned it as a friendly, light-hearted cryptocurrency that would cater to a wider audience than Bitcoin's core audience. Elon Musk, the CEO of Tesla, has said on many occasions that Dogecoin is his favorite cryptocurrency.

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