Dogecoin is up 300% in a week
Dogecoin is up 300% in a week

Dogecoin achieved a historic milestone for the second time this week. This time it can be attributed to the richest man in the world.

Dogecoin was a joke at first, but now it is the top ten cryptocurrency worth $ 34 billion and features the character Shiu Inu.

It was developed in 2013 by software engineers Billy Marcus and Jackson Palmer for use as a faster but interesting alternative to Bitcoin.

Since then discover a growing community on the Internet. The token's total market value is now $ 34 billion, up from around $ 19.9 billion in the last 24 hours.

The digital token reached an all-time high of 30 cents and was more than twice its price the day before.

Dogecoin wasn't the first time to see a massive spike, and like many cryptocurrencies, this coin suffers from price fluctuations.

Dogecoin began to climb earlier this year and has been enthusiastically endorsed by Reddit SatoshiStreetBets, which aims to drive up the prices of cryptocurrencies.

Dogecoin rose again last week, hitting 10 cents for the first time, but has risen 300% in the past seven days.

A Reddit user posted a picture of his Dogecoin and said, "I just became a millionaire and my balance is $ 1,081,441."

Dogecoin caught the attention of Robinhood users, and the online broker said Thursday: After facing unprecedented demand, there has been a major disruption in cryptocurrency trading.

The latest issue is a huge fan of Tesla after Elon Musk, CEO of Tesla, posted a new tweet about cryptocurrencies.

This isn't the first time Musk's tweets have added value to Dogecoin. It was a series of tweets released by the tech billionaire in February (the tweet has more than 50 million followers on Twitter) that spiked the token's price. Over 50.

Dogecoin's rise has raised concerns about a potential bubble in the cryptocurrency market.

Some investors view Bitcoin as a speculative bubble as the value of the world's most popular digital currency has doubled since early 2021.

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