Dogecoin Hits Record High After Tweets From Musk And Snoop Dogg
-Dogecoin briefly hit a new record on Monday after support from Elon Musk and Snoop Dogg
-The market value of the joke cryptocurrency reached $10.5 billion
-The coin is now ranked among the top ten virtual currencies by market value
Dogecoin, the joke cryptocurrency has been making waves after it reached a new record on Monday.
Support from Billionaire Elon Musk and Rapper Snoop Dogg saw the coin climb to 8.2 cents and a market capitalization of $10.5 billion.
On Sunday, Snoop Dogg tweeted a meme of the Shiba Inu which is used as a representation of the coin and tagged Elon Musk.
— Snoop Dogg (@SnoopDogg) February 6, 2021
The Tesla CEO replied by creating a lion king inspired meme that shows him, Snoop Dogg, and Gene Simmons lifting the coin.
So … it’s finally come to this … pic.twitter.com/Gf0Rg2QOaF
— Elon Musk (@elonmusk) February 7, 2021
The coin started trading at $0.056 and rose to $0.0872 on Sunday afternoon. The value currently stands at $0.0746.