![]() Members of the self-proclaimed “Doge Army” are armed with the popular trading app Robinhood, which some have argued has gamified trading in a dangerous way. Ur welcome /e2KF57KLxb- Elon Musk February 4, 2021 As of today, her initial investment has had over a 350% return.įor weeks, Dogecoin retail investors and fans within the online forums have been using the hashtags #DogeDay and #DogeToTheMoon, among many others, to spread memes and spark viral conversations. Thai bought about $20 of Dogecoin near the end of January for about $0.07 a share. “And two, I don’t really understand how cryptocurrency works.” “I didn’t expect much because, one, it’s called Dogecoin,” said Thai. ![]() “I bought Dogecoin when there were memes about Dogecoin taking Elon Musk and everyone to the moon,” said USC student Betty Thai. Musk has leveraged his 51 million Twitter followers to bolster support for Dogecoin, frequently tweeting popular Reddit phrases such as “Everything to the moon!” - a common rallying cry for memes and the Reddit pages WallStreetBets and Dogecoin. Musk was also vocal in support of the Gamestop stock craze earlier this year, and has since established himself as an ironical meme-posting, billionaire advocate for retail investors. (Source: Investor Place)Ĭelebrity figures like Mark Cuban and Elon Musk have helped the meme-coin skyrocket, both praising it as part of the future of financial markets. The supply of Dogecoin grows at a set rate per year, which means the inflation rate will eventually stabilize over time. In other words, the number of total Bitcoins has a hard cap. #DogeDay #doge420 #DogeCoinTo1Dollar #DogeCoinTheMoon #Dogecoin420 #dogearmy #DoOnlyGoodEveryday #ElonMusk #420blazeit /JyoD1waKXO- Dogecoin Sam David Rodriguez/Kylo_Ren2469 April 20, 2021ĭogecoin is an “ inflationary coin” meaning it has a fixed rate of coins that will be released per year, forever - a set rate of inflation over time.īitcoin, the most popular cryptocurrency, is deflationary - every four years the amount of coins put into circulation are halved along with its inflation rate, a process that will continue until all available coins are released. “If there’s a chance to make money, why not?” said Sivakumar, who hopes DogeDay will bring extra profits for retail investors.ĭogecoin will reach $1.00 today. That investment is now worth roughly $2,000, as of today. He bought just under $500 worth of Dogecoin when it was $0.06 in February. “I’m not putting my life savings into Doge, just money I wouldn’t mind losing,” says Kadhirash Sivakumar, a recent graduate of UC Riverside. The strong social media support underpinning Dogecoin has pushed its market capitalisation above $50 billion - making it bigger than companies Ford and Kraft. The coin reached $0.42 this week, and the widespread excitement for #Dogeday420 - a hashtag that’s been trending on Twitter for several days - may push this even higher. A $100 Dogecoin investment on Januwould now be worth over $13,500, according to Cryptoground’s Dogecoin calculator. In early January, a single Dogecoin was worth less than half a penny. The Shiba Inu dog-themed cryptocoin has surged over 8000% in 2021, driven in large part by the rapidly growing DogeCoin Reddit page, which now has over 1.5 million members. Today, however, the marijuana has been eschewed for DogeDay, a spirited and meme-fueled attempt to drive the price of DOGE-USD to $1.ĭogecoin, a cryptocurrency which initially began as a parody coin in 2013, is now one of the highest valued coins on the blockchain. Each year, April 20th - colloquially, 4/20 - is celebrated with hazy rooms and cannabis-infused treats. ![]()
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