Snoop Dogg and Elon Musk use tweets to raise Dogecoin price to record
By: Linda Davis
On February 8, the value of Dogecoin cryptocurrency reached a record high after it was mentioned on Twitter by SpaceX founder Elon Musk, rapper Snoop Dogg and bassist of the Kiss group Gene Simmons, writes Bloomberg. Dogecoin is named after the Internet meme Doge, released on December 8, 2013.
According to the CoinGecko platform, the value of the token rose to a record 8.2 cents with a market capitalization of $ 10.5 billion. The coin entered the top ten most expensive cryptocurrencies.
Over the past month, Elon Musk has mentioned Dogecoin several times in his tweets. On February 8, the entrepreneur posted a video instruction for Dogecoin owners and a tweet with the words «Who let the Doge out», playing on a song by the group Baha Men.
Snoop Dogg posted a picture where his stage name was replaced with the words «Snoop Doge», and noted Elon Musk.
Gene Simmons, bassist for the American rock band Kiss, talked about how much people could have made if they had bought Dogecoin earlier, and he was glad about the rise of cryptocurrency.
Musk also posted a picture inspired by The Lion King, in which he lifts up Simmons, who lifts up Snoop Dogg, who, in turn, lifts up the coin symbol - a Shiba Inu dog.
Etherium also hit a record $ 1,698, according to Bloomberg. Investors began buying up cryptocurrency ahead of the launch of Etherium futures on the Chicago Mercantile Exchange, scheduled for next week.
Dogecoin was created in 2013 by two former IBM and Adobe employees, Billy Marcus and Jackson Palmer. The project was conceived as a joke amid the excitement around bitcoin. The new coin was named after the popular Internet meme Doge by Marcus and Palmer. The image of the dog got on the logo of the cryptocurrency and became its symbol.