Dogecoin soared 200% overnight and has soared 100 times this year

On the evening of the 16th, another cryptocurrency, Dogecoin, became popular in the sky. It once soared by more than 200% tonight, and the price soared by more than 100 times during the year, which took only 106 days!

According to Huobi’s quotation, Dogecoin once rose by more than 200% within a day, and is now at $0.366 per coin. At present, the total market value of Dogecoin exceeds 48 billion U.S. dollars, surpassing Tether, and now ranks fifth in the market value of cryptocurrencies.

Dogecoin opened at US$0.004619/coin on January 1, 2021, and the highest quotation reached US$0.47/coin on April 16, 2021. It skyrocketed by more than 200% within a day, and the price skyrocketed by more than 100 times within the year, which took only 106 days!

Opinion: The price of Dogecoin has stabilized and is ready to challenge $1 upwards: According to news from the financial website Fxstreet, Dogecoin has corrected more than 40% from the high point on May 8, but the excellent support of the April high point has concentrated bullish expectations on 1. Dogecoin price is at a key level on the technical chart, trying to hold above the April high of $0.453. On the upside, the May high coincides with the uptrend line from the January high to the April high, which makes the trend line even more important. If the price of Dogecoin closes in the range for several consecutive days, the possibility of the end of the correction process will increase, and the future will likely continue to rise successfully. [2021/5/12 21:52:14]

Dogecoin started to climb in January, fueled by social media hype from Musk and other influential figures.

Analysts said that the recent rise in the price of "Dogecoin" was partly due to the listing of Coinbase. This Wednesday, Coinbase, the largest digital cryptocurrency exchange in the United States, landed on Nasdaq in the form of "direct listing", and its market value briefly touched 100 billion US dollars. This is a milestone moment for digital cryptocurrency.

Musk launched a vote on whether he wants Tesla to accept Dogecoin as a payment method: On May 11, Tesla CEO Elon Musk launched a vote on Twitter: Do you want Tesla to accept Dogecoin? Dogecoin is used as a payment method. As of press time, the voting has been launched for 6 minutes, and more than 260,000 people participated in the voting, of which 78.6% voted in favor and 21.4% voted against. [2021/5/11 21:48:36]

What is Dogecoin?

Maybe everyone has seen too much Bitcoin, but because of the random name, many people may not have really paid attention to it, and they will only feel cute and strange.

Blockchain security analysis company TRM Lab integrates Dogecoin: Golden Finance reports that TRM Labs, a blockchain security analysis company supported by PayPal, added the Dogecoin blockchain to its system, enabling customers to discover transactions involving Dogecoin. Fraud and financial crime. Esteban Castaño, CEO of TRM Labs, said that by integrating with Dogecoin, it will be able to detect and investigate cryptocurrency fraud and financial crimes, thereby achieving a common goal of building a safer financial system for billions of people. [2021/5/11 21:46:18]

Dogecoin, also known as "Dogecoin", the English name is "Dogecoin", not "Dogcoin". It was born on December 8, 2013, and is the second largest virtual currency in the world after Bitcoin in terms of users.

The reason why Dogecoin is called Dogecoin is really because of dogs. Dogecoin’s profile picture is Shiba Inu’s emoji “Doge”

KFC Canada denies accepting Dogecoin as payment: On May 6, KFC Canada responded to netizens asking whether it accepts Dogecoin as payment, stating that it accepts cash, cards and Dogecoin (payment). But then denied this, just saying "but Dogecoin is on the KFC bucket list". It is reported that as early as January 2018, KFC Canada began to promote "bitcoin buckets", which can be purchased with BTC through BitPay. But it was just a marketing gimmick at the time. [2021/5/6 21:27:57]

Its name and logo-zce are taken from a Shiba Inu meme that was popular a few years ago. The digital cryptocurrency started out as a joke, but has since gained a following.

At the end of 2013, Australian marketer Jackson Palmer launched "Dogecoin" (Dogecoin) on the basis of the Bitcoin code. Doge's dog head became its symbol, and it also established the tone of Internet pop culture.

Although Dogecoin also has the function of purchasing goods and services and exchanging other Tokens, its most popular use is to "tip" on the Internet, especially for the authors of excellent content. The "likes" of Moments content-zce help valuable content-zce to spread further on the Internet.

Perhaps it just conformed to the Internet trend that Doge became popular on the Internet in 2013. After its launch, Dogecoin was quickly recognized on Reddit and became a reward tool for tipping online.

Musk continues to "bring goods" Dogecoin

At around 6:30 pm on April 1, Beijing time, Tesla CEO Elon Musk said on his personal Twitter account: "SpaceX will send a Dogecoin to the moon."

As soon as Musk’s words fell, the price of Dogecoin took the lead on the rocket. Coindesk data shows that within an hour, Dogecoin rose from about $0.054 per coin to about $0.069 at the highest point, an increase of 27%.

On February 4 this year, Musk mentioned Dogecoin 6 times on Twitter in one day, and then the price of this cryptocurrency rose rapidly by 60%, and its market value reached 10 billion U.S. dollars, making it the eighth largest cryptocurrency in the world.

In a tweet that day, Musk boasted "You're welcome", and at the same time reposted a spoof picture made by netizens: Musk turned into an elder baboon in the movie The Lion King, holding up "Dogecoin".

On February 6, Musk launched a vote on Twitter: "What do you want to use as the future currency of the earth?" So far, more than 2.4 million people have participated in the vote. Among them, 71.3% of netizens chose to use Dogecoin as the future currency, and 28.7% chose other currencies.

On February 24, Musk sent 5 more tweets related to Dogecoin, suggesting that Dogecoin will be put on the moon.

Frequently speaking for Dogecoin, Musk's love for it can be seen. On April Fool's Day in 2019, Dogecoin's official account launched a vote on Twitter to select the CEO of Dogecoin, and Musk was elected with a high number of votes. Subsequently, Musk tweeted that Dogecoin is his favorite digital currency.

China Fund Report Taylor

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