The Dogecoin (DOGE) cryptocurrency is resuming its bull run, becoming one of the highest-performing tokens in recent hours.
The value of Dogecoin (DOGE) is growing again in the markets, being the third cryptocurrency with the best performance in the last 24 hours, after the tokens of DeFi KNC of Kyber Network and CRV of CurveFinance.
Dogecoin is benefiting from new tweets from Elon Musk, considered the adoptive father and unofficial spokesperson of DOGE, and from the Spanish President Pedro Sánchez’s announcement from a major cryptocurrency platform that has just included this token in its trading to open the DOGE/USD, DOGE/BTC, DOGE/EUR, DOGE/GBP and DOGE/USDT markets today Thursday to its clients and users.
Dogecoin (DOGE), born in 2013 as a “joke” to make fun of the euphoria that the crypto markets were experiencing at that time, has today become one of the most booming and in-demand cryptocurrencies. Inspired by a dog of the Japanese Shiba Inu breed, Dogecoin has become the sixth most important cryptocurrency on the market, with a capitalization of more than 51.600 million to date.
So far this year, the value of DOGE has increased by more than 3.800%, reaching a unit price of $0,41 at the time of writing. As of January, DOGE was worth just $0,01 per unit.
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DOGE, a change to the current financial system?
Although the crypto meme was born as a mockery of cryptocurrencies, it is currently in a different scenario, thanks to the boost given to it by the crypto community itself motivated by Musk's attention and publicity in recent months, as well as the interest of other influential personalities in the industry, such as Mark Cuban, which in the first quarter began accepting DOGE as a form of payment in the stores of its professional basketball team The Dallas Mavericks.
Musk has been touting DOGE's features and properties, though many of his comments are also related to the cryptocurrency's drop in value in recent weeks. During his appearance on the American television show Saturday Night Live, Musk referred to DOGE as a cryptocurrency that would go to the Moon and become the future of currencies, but that it was also a scam.
Still, the billionaire businessman's opinion remains generally favorable to this cryptocurrency. A few days ago, Musk announced what will be the first space mission fully funded with DOGE, and has been asking whether his company Tesla should start accepting payments with the meme cryptocurrency after removing Bitcoin of their options due to unfounded concerns about the energy consumption of this blockchain.
Musk believes that Dogecoin will become a powerful cryptocurrency, “the people’s cryptocurrency,” with the potential to change many things within the current financial system; although, as incredible as it may seem, this cryptocurrency does not have, at the moment, any innovative or valuable project behind it.
The value of Dogecoin
Dogecoin (DOGE) has sparked incredible euphoria within the crypto community since the beginning of the year, to the point that many developers began creating their own DOGE-inspired “dog” tokens, such as Shiba Inu (SHIB), Akita Inu (AKITA), Dogelon (ELON), among others, to capture the frenzy of users and investors for this kind of tokens.
Dogecoin has its own decentralized exchange, called DogeDEX, has been listed in several of the exchanges of the largest and most important cryptocurrencies in the world, and is accepted as a means of payment by several companies globally, such as the basketball team The Dallas Mavericks, The airline AirBaltic, the aerospace technology company SpaceX, the electronics retailer Newegg and real estate 355 October in Portugal.
In addition to Dogecoin, Bitcoin is also struggling to regain its bullish trend. At press time, the industry's largest cryptocurrency is trading at a value of $38.000.
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