What is happening? Dogecoin reaches the top 5 crypto
In the last 24 hours the Dogecoin cryptocurrency has risen 175%, what happened to the most beloved cryptocurrency meme in the cryptocurrency market?
Dogecoin, the most valuable meme in history
According to data from Coingolive, Dogecoin is in 5th place in the marketcap ranking of the crypto market as the price exceeding R $ 2.05, just behind XRP and exceeding Cardano (ADA) and USDT.
https://www.coingecko.com/en/coins/dogecoin
Dogecoin
The cryptocurrency became trending topics on Brazilian Twitter and received, shortly before its release, the support of some influencers such as shark tank Mark Cuban, Gene Simmons (singer of Kiss) and Kevin Jonas of the band Jonas Brothers.
You probably have at least faced this meme at least once in your life. Now, one thing you don't know is that it is the most expensive meme in history. Yes, it served as an inspiration for a cryptocurrency that is one of the most used today.
Is there any reason for that? Development? Usability?
NO
Just hype, so, be careful if you are thinking to jump into the Dogecoin wave, we can't predict how far the price can go, and the fall can be even bigger than this pump.
JUST HYPE
The growth of DOGE, which on Wednesday (14) had appreciated 80% in a single day, is partly due to its popularity among the famous.
This week, for example, the famous chef of the United States, Guy Fieri, who is also a TV presenter, published on Twitter a photo with the caption “Launch for LUA #Dogecoin”. The post had more than 40 thousand likes.
https://twitter.com/GuyFieri/status/1382036182507343879
The Billionaire Mark Cuban, the owner of the NBA basketball team, also gave a boost to the coin by celebrating the price hike on his Twitter profile.
Earlier this year, the dog's cryptocurrency also had support from Kevin Jonas, a member of the band Jonas Brothers, and even Gene Simmons, lead singer, bassist, and founder of the band Kiss.
The biggest poster boy for the currency, however, is still Elon Musk, who since April 2019 has lived a ‘love relationship’ with the crypto.
That year, the businessman was chosen by the cryptocurrency community as its new leader through a poll on Twitter. Because of that, he said DOGE could be his ‘favorite cryptocurrency’.
Since then, Musk has published several tweets about the currency. A single publication by him this year made digital assets soar 60% in just 24 hours.
