One of the funnier/more stupid storylines of the year is that of a bunch of nerds led by Elon Musk trying to raise the price of joke cryptocurrency Dogecoin to north of a dollar and it crazily seems to be working. I guess that’s just 2021 for you isn’t it?
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The price held fast at $0.43 a couple of weeks ago after pumping again with meme lords hoping that it could rise to $0.69 to celebrate 4/20. That didn’t happen, but Elon Musk tweeted again this morning saying that he was ‘The DogeFather’ and hinting that he would be talking a lot about the cryptocurrency when he guest hosts Saturday Night Live over the weekend, causing the price to skyrocket in 15 minutes from $0.25 to $0.50.
That’s absolutely mad isn’t it, but I suppose you can argue that the whole story behind DogeCoin is completely crazy as well and we should probably expect this to keep happening until Musk gets his way and it become worth more than a dollar. Apparently a spokesperson for U.S. bookies said the following earlier this month:
Following Elon Musk’s latest tweet, the odds of Dogecoin hitting the landmark value of one dollar have fallen significantly.
Not so long ago, the prospect that the currency would be worth any more than a few cents seemed remote, but momentum is building and another surge – even as soon as this month – cannot be ruled out.
Seems like it might only be a matter of time, but I suppose you never know with cryptocurrency do you? Can you afford to miss out though?
For more of the same, check out this dark secret behind Bitcoin that should have us all worried. Although that was back in 2017 so who knows now?