Dogecoin originally started out as a joke, but now it looks like the joke turned on those who didn’t take the meme cryptocurrency seriously. The meme-based cryptocurrency, which Elon Musk never stopped tweeting about, peaked in mid-April, topping the 10-cent mark for the first time.
The rally turned into random outbursts and the results of a semi-ironic action that affected hundreds of customers and the richest man in the world, Elon Musk. At the beginning of January, every single token was worth less than a cent. However, at the end of the same month, when GameStop and DogeCoin were making their progress, the price of DogeCoin rose to 7.5 cents, which was very nice at a 10X magnification before falling to 2.5 cents. The currency in recent months ranged from three to seven cents. The question, however, is, can Dogecoin keep track of how it all began?
What is the Robinhood App?
Robinhood app is a preferred platform for buying and selling coins, and it has shown itself to the public in the first three months of 2021 in the publication of A-1 and cryptocurrency transactions related to a Dogecoin transaction. “Simultaneously According to The Verge, cryptocurrency transaction revenue increased from 4 percent in the last three months of 2020 to 12 percent of total revenue in the first quarter of 2021.
Can DogeCoin Survive?
Elon Musk has spoken about how this cryptocurrency is the future. In an interview, he said, “There is a good chance that cryptocurrency is the world’s long-term foreign currency.” He added that there are several cryptocurrencies that will be the future. He explains the origins of how Dogecoin was created as a joke to make fun of cryptocurrency. “Foreign funds that started out as a joke are becoming real currency,” he said.
Elon Musk is a huge fan of crypto coins. He helped lead the crypto market with his tweets about Bitcoin and Dogecoin. The two coins were the rising trend for the first half of 2021. These cryptocurrencies brought enormous advantages over multiple break-ins.