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    Home»Markets»Dogecoin Barks Once more After Recent Elon Musk Hypothesis – Decrypt
    Dogecoin Barks Once more After Recent Elon Musk Hypothesis – Decrypt
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    Dogecoin Barks Once more After Recent Elon Musk Hypothesis – Decrypt

    By Crypto EditorNovember 22, 2024No Comments3 Mins Read
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    Dogecoin Barks Once more After Recent Elon Musk Hypothesis – Decrypt

    Dogecoin is rising Friday, hitting its highest worth in over every week as hypothesis over Elon Musk introducing funds to his X social media platform—previously Twitter—arises once more. 

    The Tesla CEO and world’s richest man posted a screenshot of podcaster Joe Rogan’s profile early Friday. Within the snap, a greenback signal seems subsequent to the celeb’s profile image—resulting in hypothesis {that a} new characteristic may quickly be revealed. 

    When one X person posted on Friday declaring the mysterious new widget, which doesn’t presently seem on the platform to customers, Musk merely responded: “True.”

    “My hypothesis is that ‘$’ button is used for sending cash to somebody as part of X Funds,” wrote Nima Owji, whose bio describes him as an “unbiased app researcher.”

    The value of Dogecoin is now up 4% up to now 24 hours and is now priced at $0.40, in accordance to CoinGecko. The value briefly popped above $0.41 earlier, marking its highest worth in additional than every week.

    Over the previous week, it has shot up 87% after slowing down following an outstanding rally off Musk’s feedback and Bitcoin’s new all-time highs. 

    Within the house of 30 days, the coin—which is the seventh-biggest digital asset—has jumped in worth by 189%. It hit a three-year peak of about $0.43 early final week.

    Dogecoin was invented in 2013 by a gaggle of engineers as a joking tribute to the “doge” meme of a Shiba Inu canine. The thought was to poke enjoyable on the slew of altcoins getting into the crypto house after Bitcoin had taken root.

    However when tech entrepreneur CEO Elon Musk began pumping the coin on Twitter in 2020 by posting memes, it went up in worth and gained a cult following.

    It shot to an all-time excessive of $0.73 in 2021, however then dropped exhausting. It has began pumping once more as Musk talks about how he likes the coin and as he prepares to take a brand new position in President-elect Donald Trump’s new authorities in an company dubbed the Division of Governmental Effectivity (D.O.G.E.)

    Musk—who purchased Twitter in 2022 and adjusted its identify to X—has enthusiastically spoken about customers making funds on the platform.

    Earlier than shopping for Twitter, Musk teased potential plans to combine Dogecoin for purchasing premium subscriptions, for instance. Nonetheless, paperwork confirmed earlier this 12 months that whereas a fee characteristic was within the works, crypto wasn’t part of the plans—at the very least not at first. 

    Edited by Andrew Hayward

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