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Dogecoin was launched in 2013 when the popularity for the Doge meme was at its highest, and since then has been widely promoted by SpaceX CEO Elon Musk. Tesla CEO Elon Musk on Wednesday told one of his 45 million followers on Twitter why was he, after all, such a big fan of the cryptocurrency Dogecoin.
Dogecoin out of nowhere rallied over 500% to hit levels above $0.5. The altcoin which began as a joke has from time to time surprises many by rallying significantly. Dogecoin started as a meme on Tweeter, to say the least. The story of the token is a good example of the world being crazy and the people in it spontaneous.
Dogecoin has a big following in the cryptocurrency space. Besides, like Bitcoin, it has a real-world use case as a medium for peer-to-peer transactions using a decentralized network. While cryptocurrency is often referred to as money for the geeks, Dogecoin is a token with a dog image on it. Perhaps this is why it is so valuable. People are probably finding it easy to relate to Dogecoin than other altcoins, let alone Bitcoin. dogecoin explosion
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