Dogecoin Soars Over 25% After Elon Musk Replaces Twitter’s Logo With Shiba Inu Image
DogeCoin, a cryptocurrency created in 2013 by software engineers Billy Markus and Jackson Palmer. The currency initially became created as a parody of the then-popular cryptocurrency Bitcoin. And its name and logo found inspiration by the “Doge” internet meme.
Despite its origins as a joke, it quickly gained a following online. Particularly on social media platforms such as Reddit and Twitter. Its low price and availability on popular cryptocurrency exchanges also helped to fuel its popularity.
In 2014, it made headlines when the Dogecoin community raised over $55,000 in DogeCoin through a crowdfunding campaign to sponsor the Jamaican bobsled team’s trip to the Sochi Winter Olympics. The publicity generated by this campaign helped to raise awareness and further boosted its popularity.
Since then, DogeCoin has experienced a number of ups and downs in value, with its price being influenced by factors such as market demand, celebrity endorsements, and social media trends. In May 2021, the cryptocurrency experienced a surge in value, reaching an all-time high of over $0.70 USD per coin, largely due to endorsements from figures such as Elon Musk and a growing interest in cryptocurrencies in general.
Despite its ups and downs, DogeCoin remains popular among its dedicated community of supporters, who continue to use and trade the currency as a means of exchange and as a symbol of internet culture.
Dogecoin Soars Over 25% After Elon Musk Replaces Twitter’s Logo With Shiba Inu Image
