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

by : Niamh Shackleton on : 28 Apr 2021 10:12
Dogecoin Price Sky Rockets Again After Elon Musk Declares Himself 'The Dogefather' Marco Verch (CC-BY-2.0)/Flickr/elonmusk/Twitter

Dogecoin is continuing to take over the world as its price has skyrocketed once again.

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

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Soon after, the cryptocurrency doubled from from $0.25 in value to $0.50 this morning, April 28, in the space of just 15 minutes. Last week, dogecoin held strong at $0.43 with investors hoping to have got its value up to $0.69 for 4/20.

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

Previous Dogecoin shout-outs by Musk have caused dramatic surges in the meme-inspired cryptocurrency. In February, the business and science mogul went on a tweeting spree where he called Dogecoin ‘the people’s crypto’.

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He wrote, ‘No highs, no lows, only Doge. Dogecoin is the people’s crypto. No need to be a gigachad to own.’ Musk also shared a rather entertaining Lion King meme of his face on Rafiki while holding up Simba, who has the face of the dog from the famous ‘doge’ meme.

Musk himself has invested in Dogecoin and reportedly bought $1.5 billion worth of Bitcoin earlier this year, The Independent reports.

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

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‘If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo,’ he wrote, before adding, ‘I will literally pay actual $ if they just void their accounts.’

Since it’s surge in popularity in recent months, some predict Dogecoin may hit $1 by the end of 2021.

As per Entrepreneur, a spokesperson for US-Bookies said earlier this month:

Following Elon Musk’s latest tweet, the odds of Dogecoin hitting the landmark value of one dollar have fallen significantly.

Not so long ago, the prospect that the currency would be worth any more than a few cents seemed remote, but momentum is building and another surge – even as soon as this month – cannot be ruled out.

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According to the bookies, Dogecoin has 16/1 odds of reaching $1 by the end of April, while oddsmakers are also placing 10/1 odds on Elon Musk enabling Teslas to be bought with Dogecoin later this year.

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Niamh Shackleton

Niamh Shackleton is a pint sized person and journalist at UNILAD. After studying Multimedia Journalism at the University of Salford, she did a year at Caters News Agency as a features writer in Birmingham before deciding that Manchester is (arguably) one of the best places in the world, and therefore moved back up north. She's also UNILAD's unofficial crazy animal lady.

Topics: Technology, Bitcoin, cryptocurrency, Dogecoin, Elon Musk, News, Now

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Entrepreneur and 1 other
  1. Entrepreneur

    Dogecoin Maybe Worth More Than $1 At The End Of 2021

  2. Independent

    DOGECOIN PRICE SKY ROCKETS AFTER ELON MUSK CALLS HIMSELF ‘THE DOGEFATHER’