The meme coin surged in price as Tesla CEO Elon Musk reiterated his support for the cryptocurrency at the Qatar Economic Forum in Doha on Tuesday.
The meme coin surged in price as Tesla CEO Elon Musk reiterated his support for the cryptocurrency at the Qatar Economic Forum in Doha on Tuesday.
Elon Musk stated, ” They urged me to support Dogecoin.”
During the forum, CEO Musk said in an interview with Bloomberg News Editor-in-Chief John Micklethwait:
“ I know a lot of people who are not that rich
who encourage me to buy and support
Dogecoin. I answer those people.”
The coin started as a joke in 2013 but quickly became a major cryptocurrency thanks to a committed community and creative memes. It is open to devaluation as there is no restriction on the number of DOGE units compared to other cryptocurrencies.
Dogecoin‘s price was $0.0003 in 2017. By June 1, 2022, these numbers had risen nearly 40,000% to $0.10. According to the data available, DOGE is currently trading at $0.063348, up over 14 percent as of this writing.
Elon Musk also stated that he wants his employees to promote cryptocurrency. “They called me to support Dogecoin, and so I am,”
In addition to Dogecoin, the SpaceX founder also stated that he supports other cryptocurrencies. Musk stated that he owned Bitcoin, Ethereum, and DOGE in October.
