Opinions expressed by Entrepreneur contributors are their very own.
Based on the specialised platform CoinMarketCap, the cryptocurrency that began as a joke, Dogecoin (DOGE), elevated in worth by about 4,600% previously 12 months. This achievement is essentially as a result of enhance given to it by billionaire Elon Musk, who has made it clear that it’s his favourite digital foreign money.
Elon Musk vía Twitter
In August 2020, every DOGE token price 0.002802 cents on the greenback, and at this time it’s buying and selling at $0.2964. This value remains to be beneath its historic most: virtually 0.69 cents on the greenback on Could 6.
The platform’s evaluation additionally ranks Dogecoin as one of many high performing cryptocurrencies within the second quarter of 2021. To date this 12 months, the meme-inspired digital foreign money posted a 400% progress. In the final 24 hours alone it rose 12%.
Supply: CoinMarketCap.com .
Elon Musk, the most important fan and promoter of Dogecoin
Tesla and SpaceX CEO Elon Musk has been the strongest and most controversial promoter of Dogecoin. Each time the mogul tweets one thing in regards to the cryptocurrency meme, it will increase in worth virtually immediately.
Though his devotion to DOGE has gotten him into trouble, the 50-year-old businessman continues to brazenly help it.
This week Dogecoin builders introduced an replace to the platform on Twitter. The replace will scale back transaction charges and make the community safer. A number of hours later, Musk shared the submit including that it was “essential.”
– Elon Musk (@elonmusk) August 30, 2021
Elon Musk, one of many three richest males on the earth (going up and down within the high three together with Jeff Bezos and Bernard Arnault), is satisfied that Dogecoin is one of the “strongest” cryptocurrencies, as he made clear when supporting the opinion of millionaire Mark Cuban.