One of the more outdated memes on the internet is “doge.” The meme is of a random Shiba Inu that is definitely cute but also very confused. As Bitcoin began to get more popular, Dogecoin was created as an internet-based cryptocurrency that could be held by anyone willing to invest. At first, the coin was virtually worthless as it was only going for about a fraction of a cent. However, throughout this current market cycle, influencers like Elon Musk have been promoting Dogecoin quite a bit, and it has elevated the coin to heights no one ever thought were possible.
Over the past week or so, Dogecoin has exploded past 50 cents and fans have been pushing for it to hit a full $1. If that were to happen, some of the earliest investors would see returns of about 1000x which is truly insane. Today, Dogecoin pushed yet another new all-time high as it officially hit $0.75, much to the delight of investors everywhere.
With Elon Musk appearing on Saturday Night Live tomorrow, many believe he is going to try and promote the coin, which has led to a massive speculative rise to the upside. If this trend continues, it seems all but guaranteed that Dogecoin could hit $1 by tomorrow. Of course, none of this is financial advice.
In the midst of this bull run, Dogecoin continues to prove people wrong.