You simply can’t keep Elon Musk out of the news these days, can you? Following his small but crucial role in the running saga of GameStop, Musk is yet again endorsing another viral commodity: it’s called Dogecoin, and the world’s richest man believes it could be the future of cryptocurrency.
Dogecoin is a cryptocurrency is based on a meme that was popular years back. It’s now seeing a resurgence in relevancy.
Yup, it’s based on that iconic shiba inu that was all the rage on the internet a long, long time ago. What year are we living in again? 2014?
While Dogecoin started as a joke, it’s 600% price rise over the past year is no laughing matter at all. It’s currently priced around 6 cents, but has seen as high as 8 in recent days. The Doge community’s goal? $1. As the Reddit lingo goes, $1 is ‘the moon’ for Doge holders. While that may not seem like a lot, that would be a meteoric rise for people who bought in at a paltry few fence.
Only time will tell if Doge has what it takes to go to the moon.
Recently, Doge has gained momentum thanks to Musk, as well as other questionable celebrity endorsements, like Gene Simmons of KISS.
Is there any money-making opportunity Gene Simmons won’t exploit? Nothing saps the credibility from a trending topic faster than a Gene Simmons endorsement. Whether Gene’s involvement (a.k.a., sinking a million dollars into Dogecoin) bodes well for the meme crypto or not, well, that remains to be seen.
Men’s Humor readers, we are not financial advisors. We have no idea what fate holds for Dogecoin. Perhaps it’s just one fad in the recent investing craze that’s taken the Internet by the horns, or perhaps it’s eventually going to take over the USD as the world’s premiere currency. All we know is that hecckin’ doggo is simply epic.