Billy Markus created the meme-coin DOGE as a parody on Bitcoin back in 2013. As last month Dogecoin was changing hands as low as $0.0026 and now it’s sitting at $0.61, being the top four digital asset already, Markus has revealed the secret of the DOGE rise in his recent tweet.
DOGE sees 12,000% rise this year
The Bitcoin-parody DOGE has been seeing massive price surges this year due to Elon Musk tweets who has first called it “people’s currency”, then promised to put “literal DOGE on the literal Moon” via SpaceX and now Musk is about to make an appearance on “Saturday Night Live” (SNL) this weekend.
According to a CNBC reporter Kate Rooney, newest DOGE investors see particularly Musk’s tweets as the main price pumper of the meme-coin.
According to Rooney, DOGE is making its way into online gambling markets as people are making bets as to what Musk will be talking about on the SNL and whether it will be his favorite Shiba-Inu cryptocurrency.
DOGE is “millennials’ middle finger to the system”: Mike Novogratz
In his recent interviews to Bloomberg and CNBC, founder and CEO of Galaxy Digital, Mike Novogratz, assumed that Dogecoin may be favored by millennials and Z-generation since buying it is similar to showing a middle finger to the system (similar to Gamestop shares).
However, he cautioned against Dogecoin, saying that there’s no development upgrades in this coin, nor there is money from financial institutions coming into it.
Still, more and more celebrities, following Elon Musk, are getting to be the fans of DOGE – Mark Cuban, Snoop Dogg, Guy Fieri, etc.
DOGE cofounder explains the Dogecoin massive rally
Billy Markus, who created Dogecoin together with Jackson Palmer and launched it back in 2013, has taken to Twitter (where he dwells as “Shibetoshi Nakamoto”) to share his take on the recent Dogecoin’s rally.
His opinion is simple – the market is driven by emotion and sentiment, he believes. The price on the market is moved by people’s decisions made for their own reasons.
He does not refer to the asset as loudly as Elon Musk with his “people’s currency” definition.