It’s true, no one can hide the fact that whenever Elon Musk tweets about cryptocurrency the prices start touching the sky, you must know what he tweeted about the Dogecoin’s rise.
That’s what happened with the DogeCoin, yesterday one of the most influential persons on earth and CEO of Tesla Elon Musk tweeted regarding alternative Bitcoin.
The tweet says, “Doge Barking at the Moon” with the painting made by the Spanish painter and sculptor Joan Miro.
Everyone’s surely aware of Elon Musk’s high demand for cryptocurrency and his involvement plays a vital role in soaring the digital currency.
DogeCoin Soaring with No Limits:
Since Wednesday the DogeCoin recorded a 68% rise in the stock market and on Thursday the value of Dogecoin is $0.13 or nearly 14 cents.
There’s no denying, that for the second time this week Dogecoin managed to reach the milestone and they should surely thank the richest man on earth Elon Musk.
Today, Dogecoin soared more than 100% to hit the all-time high of $0.298 according to the cryptocurrency news and data provider Coindesk.
Such revelation led the high investors to think about this substitute cryptocurrency and invest in it.
Dogecoin’s popularity started, when Mr.Musk started tweeting about it and there’s an increase in its value can be seen properly.
Bitcoin considered as the lethal cryptocurrency, then below bitcoin, there are many other alternate ones out there and among them, Dogecoin holds the bar.
Recap & Musk’s Involvement:
Dogecoin started as a joke in 2013, in which again Elon Musk played an important to give them the real push and it helped them to make themselves in the digital market.
Many of the Tech giants, social media influencers, and above all Elon Musk showed their interest in the Meme Coin.
In February with his simple tweet “Dogecoin is the people’s crypto” raised the value to 75%.
Dogecoin already made its worth, when Mark Cuban’s Basketball team Dallas Mavericks completed 200,000 transactions.
Such rapid growth of around 112.89% with the value of 30 Cents sounds insane and impossible within 24 hours. It’s the first time, that the Shiba Inu-Themes coin surpassed 8 cent.
According to the industry marketing experts,
“As Dogecoin considered as pure community-driven as of now, it is not likely to receive any institutional adoption at the moment.
It’s also given due to the fact that unlike Bitcoin, there is no limit to the number of Dogecoins that will be created,” says one of the experts Modi, he more added,
“The fair price for any cryptocurrency can be calculated on the earning expectations or the dividend yields and none of these can be seen structured for this coin right now.
Also there is no technical team or a roadmap to consider its qualitative factors as well.”
Cryptocurrency might become the next major tool for money exchange, as some of the elite companies started accepting Bitcoins in which Tesla also involved as well and that’s a great opportunity for the DogeCoin.
No one can deny, that DogeCoin might be “The Next Big thing” to rise in the cryptocurrency market and that’s the fact as Elon Musk’s tweet gives us a hint.
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