The Doge father's presence in the Saturday Night Live (SNL) on May 8th has hyped the Dogecoin price to its all-time high of $0.7038 It is backed by the doge father (Elon Musk) who has ample revenue and self-worth.
Since, his backing and tweeting about the dogecoin, the coin has been living a whole different lifestyle and the ones who had it are having a success dreams. All of this is happening just because the doge father has come to not only save the dogecoin but to take it to the top charts of the top 4 trading crypto-currencies.
What is Dogecoin?
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is free from traditional banking fees following the BitCoin ladder. What they did then was nothing but a fun activity. Dogecoin features the face of the Shiba Inu dog which is a Japanese breed of dog and is from the "Doge" meme as its logo and namesake.
Elon Musk: Doge Father
Elon Musk, the owner of Tesla is all in the cryptocurrencies, especially the BTC, and the Dogecoin for which he calls himself a father - the doge father. The paradigm started to shift since he first tweeted that Tesla will soon be accepting payments in the form of BTC to sell their modern extravagant electric vehicles.
Dogecoin has reached the all-time high of $0.7038.
Since that tweet, the cryptocurrency is on a move, along with the vision which Elon has in his mind. Later, he started tweeting about Dogecoin and named it as one of its favourite and the followers of Elon jumped on a train of success with him.
Conclusion
No one knows, how long this journey of increments within the dogecoin prices will go and how far the support of Elon - the doge father can take this meme coin, only time will tell. For now, it is all good, but will it remain jumping like this forever?
You can check the current prices for the dogecoin in comparison to the US dollar from this link.
Share your views about the recent hype of Dogecoin in the comments below.
Photo by Jaycee Xie on Unsplash
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