Dogecoin, one cryptocurrency wey dem use play-play take create, reach major milestone on Tuesday wen di price rise to 11.5 cents, dis na di first time di cryptocurrency don pass 10 cents in value.
Di market cap of Dogecoin - wey start as joke seven years ago and wey many pipo classify as " memecoin" - dey currently just ova $14 billion.
Dis latest increase dey come as investors dey prepare for di direct listing of cryptocurrency exchange Coinbase Global, wey fit help push crypto buying and selling as a business.
Bitcoin also rise to new record above $62,700 dis week ahead of dat listing, and oda cryptocurrencies also enjoy big gains.
But Dogecoin rise dey noteworthy. Di currency don rise more than 2,000% from di start of di year, and Tesla CEO Elon Musk, na big fan, im tweets about dem dey drive up Dogecoin value.
Also Dogecoin dey enjoy cult status on Reddit, where one popular group — not unlike di WallStreetBets group wey dey behind GameStop rally — decide early dis year to push dia value "go moon." Dogecoin rise ova 600% afta dat push.
Musk na Dogecoin richest fan, but im pesin wey dey critical of di more established bitcoin, once e call am "BS" for one of im tweet.
For one interview wey Musk do for February on social app Clubhouse, although, Musk say im suppose don think about digital currency eight years ago. Im company Tesla also promise customers say dem fit buy dia cars wit bitcoin.
Coinbase, meanwhile, dey set to debut on Wednesday. Di company dey profitable and e don report strong revenue growth.
Based on recent private stock trades for Coinbase, di company dey valued at nearly $68 billion.
Facts about DogeCoin wey hit 10 cents
- DogeCoin start as joke for 2013
- DogeCoin na crypocurrency wey dey use di face of one Shiba Inu dog as dia logo
- Elon Musk na one of di pipo wey dey support DogeCoin
- Dogecoin get one of di largest communities for di crypto space.
