Created as a joke, the cryptocurrency has gained incredible popularity and an army of fans. Today Dogecoin hascapitalization of $ 79 billion and is more expensive than Gazprom or Dell, and over the weekend there may be a reason for a new wave of growth.
Image source: coinmarketcap.com
Over the past month, Dogecoin has grown by more than900%, and 248 times over the year. Initially, this coin was bought to participate in social projects. So in 2014, a number of athletes received donations for a trip to the Sochi Olympics, after which the world's leading media wrote about the cryptocurrency, and the popularity of the coin increased.
Image Source: StormGain Cryptocurrency Exchange
But the main role in Dogecoin PR belongs to Elon Musk. Since 2018, he periodically posts tweets in support of the coin. Each time Musk comments, its value rises.
Image source: twitter.com/elonmusk
On April 28, Elon Musk tweeted “TheDogefather SNL May 8, "hinting at one of the key themes in his debut on Saturday Night Live, which has over 11 million subscribers. After that, the coin doubled in price.
With such growth rates, cryptocurrency attractsthe attention of more and more new players, and companies are rushing to include it in the list of accepted payment instruments. For example, in March, the Dallas Mavericks basketball team began selling branded goods for Dogecoin - now its daily turnover exceeds annual sales in BTC or ETH. Club owner Mark Cuban said that they are the largest seller of Dogecoin goods and predicted the currency will rise to $1.
Image source: twitter.com/mcuban
Perhaps, on May 8, Elon Musk will do what he does for him.everyone is waiting and the Dogecoin price will hit $ 1. But what will happen if he admits to his actions a protracted joke? Let us know your opinion in the comments!
Analytical group StormGain
