JAKARTA - Recently Elon Musk wrote Dogecoin crypto in his Twitter upload. Not long after that the value of Dogecoin immediately rose by 50 percent, skyrocketing due to the tweet of the richest person in the world.
In 2013, Dogecoin was created by programmers named Jackson Palmer and Billy Markus as a luckycoin fork which is no longer usable. This makes Dogecoin a litecoin (LTC) fork as reported by Yahoo Finance.
Palmer said that the dog-logo cryptocurrency was created just for a joke. He has absolutely no intention of making any money from his own cryptocurrency.
"I think this reveals a lot about the cryptocurrency space. In general, a digital currency with a dog on it hasn't had a software update in more than two years instead has a market capitalization of over US $ 1 billion," said Palmer.
Not only that, but three years after Palmer left the value of Dogecoin has increased six times from before. This just happens without any practice behind it and this Dogecoin doesn't have any specific limits to mine.
On February 4th, thanks to Elon Musk's tweet on his account, Dogecoin's price took a sharp increase. No half-hearted, Dogecoin immediately increased by 50 percent thanks to the tweet of the Tesla and SpaceX boss.
This is not the first time that Elon Musk's tweet has sparked a trend of its own among cryptocurrency users. Some time ago, Musk also added the hashtag #bitcoin in his Twitter account bio. Suddenly the value of Bitcoin skyrocketed.
In April 2019, Musk also posted a tweet about Dogecoin. He said that Dogecoin is a cryptocurrency he really likes.
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