WHAT HAPPENED IN APRIL WHEN ELON MUSK TWEETED ABOUT DOGECOIN?
Dogecoin, a cryptocurrency essentially based on a meme, surged in price in mid-April, and got a boost from Tesla CEO Elon Musk when the tech founder tweeted a gif of the dog featured in the meme.
Musk, 49, tweeted a gif of a Shiba Inu dog — the “face” of the cryptocurrency — causing its value to spike further. In the past, the SpaceX founder has posted about Dogecoin and its value increased.
The virtual “money” started as an internet parody more than seven years ago, according to CNN, but has since become a legitimate digital currency.
Jackson Palmer, an Australian marketer, made a joke about combining cryptocurrency and the Doge meme in 2013, but that joke has taken on a life of its own: its market cap is now over $17 billion.
Dogecoin is simply a digital coin with a picture of dog on it, according to CNET. That dog is the subject of an internet meme of a Shibe with an “inner…