Dogecoin price: DOGE relies on “more dynamism” in the “bullish” cryptocurrency market | Personal finance | Finances
Dogecoin (DOGE) appreciated dramatically this week after SpaceX CEO Elon Musk gave the cryptocurrency an unprecedented level of social media support. The so-called “Meme Cryptocurrency” should continue to gain in value, an expert has predicted.
Dogecoin is a type of cryptocurrency that was invented by software engineers Billy Markus and Jackson Palmer.
They wanted to create an online payment system that was free from traditional bank payments and that was also fun.
It was launched in December 2013 and has since been valued at £ 12.5 billion ($ 17.7 billion).
Over the past year, Dogecoin returns have increased nearly 3,000 percent.
READ MORE: Dogecoin Price Soars To All Time Highs As Elon Musk Is Driving The Frenzy
Since its inception, DOGE has become one of the most successful types of cryptocurrency.
“At $ 0.1357, Dogecoin is the 10th most valuable coin, and its value has just passed the $ 16 billion mark.
“Dogecoin is up over 60 percent in the past 24 hours.
“The entire crypto market is bullish and with Coinbase’s IPO today, we expect even more momentum with Dogecoin in the near future.”
The entire crypto market has experienced a boom in recent years, from which Bitcoin and Ethereum have also benefited.
The success of Bitcoin and Ethereum has likely impacted other types of crypto.
It probably helped that Coinbase – the world’s most popular cryptocurrency exchange – got listed on the exchange.
Dogecoin was also made widely known by the South African billionaire Musk.