Dogecoin’s value may finally go to the “moon” as the cryptocurrency hit its all-time high of $ 0.43 before dropping slightly on Friday morning.
According to CoinDesk, memecoin has increased in popularity by over 150 percent in the past 24 hours. The coin surpassed ten cents on Wednesday for the first time.
Tesla CEO Elon Musk started a digital craze by referring to the cryptocurrency in a tweet Thursday.
Musk had previously tweeted about crypto money and caused its value to increase. Musk referred to it as “the crypto money of the people” in February. “
Tesla also made a significant investment in Bitcoin, currently the largest cryptocurrency. His frequent financial thoughts on Twitter have been reported to offend US regulators, but Musk responded by saying it would be “great” for the Securities and Exchange Commission to investigate social media activity. A recent study found conducted by the global consumer research platform Piplsay has inspired many Americans to invest by Musk’s tweets.
Dogecoin’s surge is followed by a week of colossal moments for the cryptocurrency. On Tuesday, Bitcoin jumped as high as $ 63,236 USD per coin, while Ether reached the record $ 2,230 USD. On Wednesday, the cryptocurrency exchange Coinbase made its debut, Nasdaq shares opened towards $ 381 USD. The direct listing raised the company’s valuation to just under $ 100 billion on a fully diluted basis and set a great precedent as the first major player to go public.