It seems that the rise seen this week by the popular Bitcoin and cryptocurrencies Ethereum, has affected other cryptocurrencies. Dogecoin, a digital currency with a Shiba Inu dog as its logo, has surpassed 10 cents for the first time.
Dogecoin started as an Internet hoax more than seven years ago. However, it has recently come to the fore and its price has risen more than 85% in the last 24 hours and is trading at $ 0,13, according to CoinDesk. Its market cap is now over $ 17 billion.
The latest rise is likely the result of investor preparation for the immediate introduction of Coinbase Global, which could help validate the purchase and sale of cryptocurrencies as a business. Bitcoin also reached a new record, above $ 62.700 this week, and other cryptocurrencies also made big gains.
But the rise of Dogecoin is remarkable. The currency has risen more than 2.000% since the beginning of the year, and seems to have a big one admirer, Tesla CEO Elon Musk, whose tweets for this reason, they increased the value of Dogecoin from time to time.
Dogecoin is also very popular on Reddit, where a popular group decided earlier this year to promote its value "on the moon". Dogecoin rose more than 600% after this boost.
Musk is the richest fan of Dogecoin, but in the past he has been critical of the most popular bitcoin, and once called it "BS" in a tweet. However, in a February interview with the social application Clubhouse, Musk said he should have bought this digital currency eight years ago. Tesla has also promised its customers that they can buy their cars with bitcoin.
See also: How to buy a Tesla car with Bitcoin?
Coinbase, meanwhile, made its Wall Street debut yesterday. The company is profitable and has reported a significant increase in revenue. Based on recent private equity transactions for Coinbase, the company is valued at an impressive $ 68 billion.