By February 10, the Doge rally began to fade slowly. On February 15, Musk called upon Doge whales to sell their coins in order to decrease the asset’s concentration.
Lately, Elon Musk has been a fixture in headlines around the world because of what he has been saying about cryptocurrencies. When he tweets, people pay attention, and in the case of cryptocurrency, when he talks about assets, their prices rise. When Tesla announced it would be buying $1.5 billion worth of Bitcoin, many speculated that it could trigger a chain reaction of other big companies buying in. However, it seems that Bitcoin is not actually Musk’s favorite cryptocurrency. That distinction belongs to the currency originally started as a joke Dogecoin.
Currently, Dogecoin ranks a bit below the top 10 cryptocurrencies in terms of market cap, having outperformed giants created thanks to millions of dollars from ICOs. Throughout the years, several prominent charity campaigns on Reddit raising money in Doge have been performed. However, Dogecoin wasn’t supposed to be a big thing. Actually, the currency with a Shiba Inu meme for its logo was created in 2013 as a joke. Dogecoin doesn’t have much to offer in terms of technology. The only thing that has been driving the price of this coin is people’s enthusiasm. “Dogecoin is the people’s crypto,” Musk recently tweeted. Let’s take a look at Musk’s history with Doge and where things stand now.
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For Love of Meme: How Elon Musk Became Champion of Doge
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Topic: For Love of Meme: How Elon Musk Became Champion of Doge (Read 769 times)