Thanks to the hard work of internet users and meme-lovers, Dogecoin has been on the rise and exceeded 14 cents in value for the first time.
In the earlier days of the internet, there was just Doge; a slightly concerned-looking Shiba Inu who captured the hearts of social media users and encouraged them to share the image worldwide.
As the development of technology brought with it the increased popularity of cryptocurrency, eventually the two worlds collided to create Dogecoin, a cryptocurrency branded with the iconic face of the pooch aimed at parodying other crytpocurrencies, such as Bitcoin.
Despite starting as a joke, the price of Dogecoin reached 11.5 cents on Tuesday, April 13, marking the first time it had exceeded 10 cents in value. It has since continued to rise and surpassed 14 cents on Wednesday morning.
Each token was worth less than one cent in January, CNET reports, but it rose to 7.5 cents towards the end of the same month as supporters rallied around the cryptocurrency.
It remained on a see-saw as it ranged between three to seven cents in the following months, but now its rise has gained momentum and internet users don’t look set to slow down any time soon, with one proud person writing: ‘Pretty surreal seeing #Dogecoin not just at .10 but ABOVE .10. The power of the people y’all.’
Those who had the forethought to invest in Dogecoin during its earlier days are now benefitting greatly from the rise, with one Twitter user writing that they ‘Made over £500 in [their] sleep’ thanks to its sudden popularity.
With Musk having promised to put a ‘literal Dogecoin on the literal moon’, it wouldn’t be surprising to see the cryptocurrency continue to skyrocket like never before. Watch this space!
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