Dogecoin, the meme is active and operational
Dogecoin has risen 80% in the past 24 hours, making it the best performing crypto among the top 100 by market cap. The volume of transactions with DOGE exceeds an incredible $ 1.7 billion, being the 9th cryptocurrency with the highest volume of transactions in the crypto market.
Not only the volume of transactions, but the currency that was created as a joke and the symbol is a dog of the Shiba Inu breed, today, has a market capitalization of more than $ 1 billion being among the TOP40 crypts in Market Cap.
Meme dogecoin to initiatives with good intentions
It is worth remembering that the project was created, really, to be a joke, until it became something serious and investors saw in Doge opportunities to profit.
In addition, when Dogecoin’s creators realized that it was getting serious, they decided to take advantage of the project’s resources to do something truly useful. This translated into actions such as the sponsorship of Jamaica’s bobsled team, which qualified for the Winter Olympics but had no funds to participate in the event. Palmer and Malkus organized a fundraising campaign and obtained the equivalent of US $ 25,000 at the time.
Infected by this spirit, other members of the community created a non-profit organization, called Dogecoin Foundation, through which they intended to promote kindness using DOGE donated by users. And so came projects like Doge4Water, dedicated to building water channels in Kenya – which raised the equivalent of $ 30,000 at the time, thanks to about 4,000 supporters.
Did Elon Musk create a Fomo?
This rise comes after Elon Musk, CEO of Tesla and SpaceX, starts tweeting about the cryptocurrency in a playful way.
While it is unlikely that the Tesla founder is actually buying Dogecoin, his tweets have had tangible effects on the DOGE market. After he tweeted a meme about DOGE, for example, the cryptocurrency gained about 20% in a few hours. The cryptocurrency has also responded to a number of other tweets on the subject.
The point is that Dogecoin rises more than 80% in less than 24 hours, has a MarketCap of more than $ 1 billion and more than $ 1.7 Bi traded in the last 24 hours. And just like Bitcoin, the cryptocurrency has been hitting its ATHs frequently in the past few days.
Meme or not, they are numbers to keep an eye on.