With Elon Musk as 'Dogefather', Dogecoin value soars to the moon. Here's why
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Hong Kong, May 7 -- What started off as a parody cryptocurrency is seeing a 14,000% rise in value this year. Dogecoin now overtakes Elon Musk's SpaceX market cap.
In recent events, Dogecoin, a total joke of a cryptocurrency actually peaked at Rs 58 ($0.79) a coin with a market cap of $78 billion. To put that into perspective, that's bigger than companies like Honda Motors, Activision Blizzard and Dell. They also overtook SpaceX, which is lead by Elon Musk, one of Doge's biggest supporters. However, the question you might be having is - What is Dogecoin? Invented by software engineers Billy Markus and Jackson Palmer in December of 2013, it takes after a cult internet meme and good boy, Shiba Inu, the "Doge" dog.
It was intended to satiri...
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