Dogecoin Price Sky Rockets Again After Elon Musk Declares Himself ‘The Dogefather’

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Dogecoin Price Sky Rockets Again After Elon Musk Declares Himself 'The Dogefather' Marco Verch (CC-BY-2.0)/Flickr/elonmusk/Twitter

Dogecoin is ongoing to take over the world as its cost has skyrocketed once again.

The surge in value comes following Tesla and SpaceX founder, and long time dogecoin supporter, Elon Musk branded himself ‘The Dogefather’.

Soon afterwards, the cryptocurrency doubled out of $0.25 in worth to 0.50 that morning, April 28, in the space of just a quarter hour. Last week, dogecoin held strong at $0.43 with shareholders hoping to have obtained its worth around $0.69 for 4/20.

Musk also has hinted that he is going to be discussing dogecoin on his forthcoming appearance on Saturday Night Live. He wrote, ‘The Dogefather SNL May 8’.

The DogefatherSNL May 8

— Elon Musk (@elonmusk) April 28, 2021

Past Dogecoin shout-outs from Musk have caused dramatic spikes in the meme-inspired cryptocurrency. In February, the company and science mogul went to a tweeting spree where he predicted Dogecoin ‘the people’s crypto’.

He wrote, ‘No highs, no lows, only Doge. Dogecoin is the people’s crypto. No need to be a gigachad to have. ’ Musk also shared with a fairly amusing Lion King meme of his face on Rafiki while holding Simba, that has the surface of the dog in the famed ‘doge’ meme.

Musk himself has invested in Dogecoin and allegedly bought $1.5 billion value of Bitcoin before this year, The Independent reports.

The Tesla founder looks pretty determined to get the usual Bitcoin in general circulation and provided to purchase out the cryptocurrencies largest holders so that more people can access it.

PAPA Images

‘If important Dogecoin holders sell the majority of their coins, then it is going to get my entire support. An excessive amount of attention is the only real problem imo,’ he wrote, before adding, ‘I could literally pay real $ should they just void their accounts. ’

Since it’s surge in popularity in recent weeks, some forecast Dogecoin may hit $1 from the end of 2021.

According to Entrepreneur, a spokesperson for US-Bookies stated before this month:

After Elon Musk’s latest tweet, the chances of Dogecoin hitting the milestone worth of one dollar have dropped appreciably.

Not too long ago, the possibility that the currency would be well worth any more than a few pennies seemed distant, but momentum is building and another surge — even as soon as this month — cannot be ruled out.

As stated by the bookies, Dogecoin has 16/1 chances of reaching $1 by the end of April, while oddsmakers are also putting 10/1 chances on Elon Musk enabling Teslas to be bought with Dogecoin after this year.

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