For fans of crypto investment, of course, dogecoin is no stranger. Even the existence of this cryptocurrency has recently managed to attract the attention of many people because they asked for news about the revival caused by the endorsement made by Elon Musk. So it can be seen if after the news made the name of this crypto skyrocket so quickly. If you are not familiar with this currency, consider the following information.
What is Doge?
This currency is a crypto coin created by Billy Markus and Jackson Palmer. Where this crypto has a characteristic that makes it recognizable by crypto enthusiasts so quickly. His trademark is the image of the Shiba Inu in the “Doge” meme. It can be seen that this cryptocurrency experienced a surge of 300% in just 72 hours, more precisely on December 19, 2013.
Crypto Doge Growth
At that time the price of Dogecoin was $0.00026 and the price increased to $0.00095. The price growth began to occur when there was a shock in Bitcoin and other cryptocurrencies. More precisely when China decided to prohibit Chinese banks from investing in Bitcoin. But it turns out that the factor is not only because of that.
Many mining pools exploit the small amount of computing power required to mine this coin. As a result, the trading volume of this cryptocurrency can surpass Bitcoin in a short time, more precisely in January 2014. And finally, the value of this cryptocurrency is soaring when Elon Musk endorses this cryptocurrency through his tweets on Twitter.
In February 2021, the crypto skyrocketed in price after Elon Musk’s tweet. After the news, the owner of the Dallas Maverick allowed the purchase of NBA tickets by making a risk using the cryptocurrency. That’s why it can be said that thanks to Elon Musk, this cryptocurrency has experienced a revival, making Dogecoin much in demand again.