A flurry of tweets has helped DOGE hit new record highs... but how long is this going to last?
wow. much crypto. very record. many crazy.
Dogecoin has once again surged to record highs following on from Elon Musk’s latest tweets about the joke coin — with the Tesla CEO writing: Who let the Doge out?”
Over the weekend, the billionaire was even joined by an award-winning U.S. rapper.
Snoop Dogg tweeted a cover of one of his albums… with two very subtle differences. The renowned artist had changed the title of the record to “Snoop Doge” — and his face was replaced with a shiba inu.
These tweets helped DOGE rocket to $0.08436 — eclipsing the highs of $0.078 that were seen toward the end of January.
Created by Adobe data scientist Jackson Palmer, together with IBM developer Billy Markus in 2013, Dogecoin was meant to be a joke. Now No. 9 in the crypto rankings with a market cap of $10.5 billion, it’s DOGE that is having the last laugh.
Another celeb commentator is the Kiss frontman Gene Simmons, who declared himself the “God of Dogecoin.” He encouraged people to buy Doge and hold onto it.
Musk has gone on to tweet more Doge memes — with one of the fan favorites being himself, Gene Simmons and Snoop as Rafiki, the shaman baboon from the Lion King, blessing Doge.
The latest tweet from Elon is an “instructional video” showing the little Japanese shiba inu, the face of Doge, soaring to the moon.
Unofficially the goal is to see the cryptocurrency reach $1 per coin, which would involve prices surging by more than 1,000% from their current levels.
Retail investors have been heading to Binance and Kraken, as well as smaller exchanges to snap up some Doge while the hype continues — but the worry now is whether the altcoin will come crashing back down to Earth. For the first few weeks of January, DOGE was trading at under one cent.