Why does Elon Musk support Dogecoin? Everything About Dogecoin: In 2013, Dogecoin was created and built in the realm of cryptocurrency. Amid the height of the Doge meme’s popularity. And has since been heavily supported by SpaceX CEO Elon Musk. With digital tokens attempting to outperform bitcoin, with rivals to Ethereum, the second-largest cryptocurrency after bitcoin, facing competition from a slew of alternatives promising lower fees, faster transaction times, and improved efficiency.
Elon Musk, the CEO of Tesla, explained to one of his 45 million Twitter followers why he was such a big supporter of the cryptocurrency Dogecoin. One of Musk’s fans asked, “Why do you love Doge so much?” after a meme that inspired the cryptocurrency was shown outfitted in a spacesuit standing on the lunar surface brandishing a flag. Musk responded, “I love dogs and memes.”
Following in Musk’s footsteps, a slew of celebrities took to social media to support it, which pushed the currency to new highs. Since then, the meme token has been a favorite among Tesla’s followers, who have penned numerous tweets in support of the joke token.
All about Dogecoin
Dogecoin is a cryptocurrency that strives to provide a welcoming introduction to cryptocurrencies with a humorous and pleasant brand image. An Oregon programmer named Billy Markus came up with the idea for a “joke” coin. He reasoned that, rather than Bitcoin, a more humorous coin would have a better chance of widespread acceptance. Despite the fact that Dogecoin’s market size is nothing near that of Bitcoin. According to Coin Market Cap, the ‘joke’ currency’s market cap has surged from more than $1 billion in early January to $47 billion on Saturday.
Interesting Facts About Dogecoin
Shiba Inus all over the world use Dogecoin, an open-source peer-to-peer digital currency. Our mascot, “Doge,” is both entertaining and friendly! In the cryptocurrency industry, Dogecoin boasts one of the most active and largest communities. This group has come together to support a number of philanthropic and other endeavours. In addition, they were able to fund a NASCAR race. Dogecoin, unlike Bitcoin, has no upper limit, implying that there are more than 100 billion dogecoins in circulation.
How to Invest Dogecoin in India?
Price in India: Rs 27.92
Market Cap: Rs 3.5T
In India, crypto investors can open accounts in many crypto exchanges, including Wazir X, Buy Ucoin, and others. Interested individuals can make transactions by using debit or credit card, bank transfer, IMPS transfer from the available platforms. These platforms require a Know Your Customer (KYC) process, which verifies your information.