(Bloomberg) — Dogecoin, a Shiba Inu-themed cryptocurrency, started as a joke in 2013, surpassing its top competitor in its launch week on the Coinbase exchange.
While cryptocurrencies The biggest ones, Bitcoin and Ether, are up 6.2 percent and 14.9 percent over the past seven days, respectively. Dogecoin is up 24 percent in the same period as of 7:50 a.m. in London, according to CoinGecko prices, while Coinbase said several. Last week with plans to add Dogecoin, the announcement that it now supports meme-based tokens on Coinbase.com and in the Coinbase Android and iOS apps means that Dogecoin is more accessible and continues to establish itself.
“The Dogecoin bounce comes at a time when the cryptoverse is seeing consolidation,” Edward Moya, senior market analyst at Oanda Corp., said in a note Wednesday, referring to Coinbase̵7;s development as a boost to the price. “So we shouldn’t be surprised if this latest surge – or it makes another attempt at the moon.”
Dogecoin has increased by more than 14,000% in the past year. which surprised the crypto community and gave it the sixth largest market capitalization. Such an increase is an example of retailer power. The attraction of memes and case studies on what will happen in the world at the US Federal Reserve and other central banks. It is using relatively loose monetary policy to try to beat the coronavirus. 19’s economic devastation
And it wouldn’t be Dogecoin without a little social media action to bring things to life. There’s almost no denying the Twitter remarks of Tesla Inc. founder Elon Musk, who has adjusted the price of Bitcoin and Dogecoin multiple times. The Bitcoin community has been disappointed with the world’s third richest man lately. for various reasons including his U-turn accepting Bitcoin as payment. and tweets alluding to his breakup with the largest cryptocurrency, but some Dogecoin fans are courting him.
“If anyone has a problem with Elon, they have to go through #DogeArmy first,” one Twitter user quipped.
and Billy Markus, the co-creator of Dogecoin, who no longer codes the project. Joking that he bought a new Tesla with Dogecoin, with a photo showing a toy scale model car, Musk “liked” it in a tweet.
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