Elon Musk's acquisition of Twitter has put fresh wind in the sails of Dogecoin, the meme cryptocurrency he catapulted to fame.
Elon Musk’s acquisition of Twitter has put fresh wind in the sails of Dogecoin, the meme cryptocurrency he catapulted to fame.
Not bad for a coin that was created as a ”joke” satirizing wild speculation in the crypto market and named after an internet meme of a Shiba Inu dog.
The so-called meme coin hit a peak of $0.63 in May last year, but macro gloom and investor apathy to risky markets have since crushed it along with other prominent crypto assets such as bitcoin and ether.
Even after the latest rally, doge is down 57 percent in the past 12 months.
Then in January this year, Tesla started accepting dogecoin as payment for its merchandise, such as the ”Giga Texas” belt buckles and mini models of electric vehicles.
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Source:- CNBCTV18