Dogecoin prices skyrocket after Elon Musk tweeted about Tesla’s products

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Host Elon Musk during the Monologue on Saturday, May 8, 2021.

Heath | NBC Universal

Remember Dogecoin??

Cryptocurrencies inspired by memes surged 23% on Tuesday Elon Musk Said Tesla We accept Dogecoin as payment for some items. It finally traded 17% higher at 18 cents.

“Tesla will make some products available for purchase at Doge and see what happens,” said the CEO of an electric car maker. Tweet..

Mask is frequently talked about Dojikoin, it is referred to as his favorite digital coin, it has been mentioned in the cast of “Saturday Night Live” on NBC.

Dogecoin was first started as a joke in 2013 by its creators Billy Markus and Jackson Palmer. It is branded from the Japanese Shiba Inu that influenced the original “doge” meme.

Tweets from Mask and soaring interest from the wave of amateur investors fueled the speculative enthusiasm of cryptocurrencies earlier this year, pushing up their prices.

Dogecoin hit a record high of over 74 cents in May, starting at a value of just one penny at the beginning of the year. Since then, it has plummeted — with just 20 cents of coins, tokens have fallen by more than 70% from record highs.

Some crypto investors say it’s a phenomenon similar to “memetic stocks” like dogecoin GameStop When AMC And it shouldn’t be taken seriously.

“I’m not really sure that Dogecoin is suitable for the crypto market,” said Brad Garlinghouse, CEO of crypto company Ripple. Told CNBC last month.

Recently dogecoin I found a rival in Shiba Inu, A meme token that calls itself a so-called “Doge Coin Killer”. The Shiba Inu is currently the 13th largest coin in market value, temporarily surpassing Dogecoin.

Disclosure: NBCUniversal is the parent company of CNBC and NBC and broadcasts “Saturday Night Live”.

Dogecoin prices skyrocket after Elon Musk tweeted about Tesla’s products

Source link Dogecoin prices skyrocket after Elon Musk tweeted about Tesla’s products

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