The world must be truly going crazy. Something originally found as a joke is up in the skies as cryptocurrency. Yes, we’re talking about Dogecoin. The digital coin was originally found as a joke is all over the Internet thanks to a Reddit frenzy.
Soaring over 800%, it is said to make the equivalent of GameStop in line after a Reddit board talked over it.
Background
Created in 2013 based on the much hilarious popular meme involving the Shiba Inu dog, it was the “doge” meme of the time. A Reddit group called Satoshi Street Bets was what caused all the attention and furry owing to the awakening of the bitcoin.
While it is short of the big cats in the market including the major Bitcoin, its growth is sure one for the stories. Satoshi is the name of the much puzzling founder or group of people who is behind the cryptocurrency brains.
Much like the Wall Street Bets which is the brainchild of the aspiring Game Stop rally, Satoshi Street Bets is the one in the limelight for the growth of cryptocurrencies like anything.
Over the news
With the much speculated Elon Musk tweet with just a picture of a dog, the post is anticipated as Musk supporting the move in his own way. The post was that of a picture of a magazine cover of Dogue, a version of the cult-favorite magazine “ Vogue”.
Price Prediction
The price prediction of the cryptocurrency stood at a whopping 0.057410 dollars with around 150% on the day and got a quite aspiring surge of 800% in just around a day and assuaged from 0.070755 dollars. The within the day high hit of the price of dogecoin is 0.072330 dollars.
According to Coinmarket cap, dogecoin added about 7.17 billion dollars to the total market capitalization of the total value in about 24 hours. Making history and breaking it perhaps, the cryptocurrency stood at a whopping 8.2 billion dollars being the ninth-largest in the history of cryptocurrencies.
The stock sticker for Game Stop being GME proclaimed as a poster that Doge is the “crypto game”. In 2013, when all of the cryptocurrency furry began, it was trading around 0.000232 dollars and has never been at 1 dollar.
So when one of the posts suggested that they go with 1 dollar it was confusion all the way through. With Reddit users letting on to keep pushing and lifting their spirits not to sell; there have been some big dips all around as they are going up like crazy.
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