It’s inevitable pic.twitter.com/eBKnQm6QyF. Apart from Bitcoin (the world's largest cryptocurrency), not just Dogecoin set a record and has soared approximately 1000 percent over the last three weeks but few other digital currencies like Terra, Solana, and Carnado also rose high in value. As Dogecoin has hit $0.33 recently, I’ve seen a lot of members in this sub argue back and forth why Dogecoin is a good investment. Yuriko Nakao/Getty Images Dogecoin, cooked up by software developer Billy Markus as a joke in … The meme-inspired token rallied 37% in … in early 2019 Elon musk called himself doge-coin ‍CEO. Elon Musk even updated his Twitter bio by adding the tag #bitcoin so as to show his interest in the fast-developing world of cryptocurrency. Its symbol is “DOGE.”. He added: "But when everyone is doing this, the bubble eventually has to burst and you’re going to be left short-changed if you don’t get out in time. Cryptocurrency meta-prank dogecoin (DOGEUSD) was surging once again on Friday, soaring more than 400% for the week and briefly hitting more than $0.43 in early trading before paring back slightly, but once again proving that fans of the coin everyone used to laugh at are no longer joking around. Dogecoin came as a joke. Elon Musk typically tweets favorably about dogecoin. While he has been embraced by the dogecoin community, especially on Reddit, Musk previously said he supports the more widely-used cryptocurrency bitcoin. Elon Musk also claimed last week that he had bought some dogecoin for his infant son, X Æ A-Xii, two days after Tesla revealed that it had invested its corporate cash in bitcoin. While Bitcoin is worth more than $1 trillion, the total market cap of the token universe now exceeds $2.25 trillion, according to CoinGecko.com, which tracks more than 6,700 coins.Bitcoin’s dominance in the crypto world has declined 28% since the beginning of the year, according to OKEX Insights Analyst Robbie Liu, citing data from Tradingview. Humor will never get old nor go out of style”. Elon Musk's Tesla has invested in bitcoin (Image: GETTY) "My 2021 price target of $220,000 is just a stepping stone to much higher prices." 10 Mark: All You Need to Know About the ‘Joke’ Cryptocurrency ... To put things in perspective, if you had invested $1,000 (roughly Rs. Big tech-related growth stocks in other S&P 500 sectors such as Amazon Inc, Tesla Inc and Google-parent Alphabet Inc have also charged higher. The "memecoin" was created in 2013 as a … Dogecoin has soared almost 200% to a new-all time high of $0.3922 (£0.28), riding a broader wave of interest in cryptocurrencies that has been cresting in recent days.The cryptocurrency, which first started up as a joke in 2013, now has a market cap of $33.4bn thanks to the recent surge. Like most of them, its use case is limited, making it a tool for speculators and raising concern that a bubble is inflating in a crypto world now worth more than $2.25 trillion.“This reminds me of the dot com days. The parent company of social media’s favorite meat stick gave DOGE its first-ever earnings call shoutout. There’s even a social media campaign to drive dogecoin’s price to $1. Elon Musk and Snoop Dogg Push Cryptocurrencies to Record Highs Bitcoin and even Dogecoin, which began as a playful experiment, are soaring in value as … Find: Why Some Money Experts Believe In Bitcoin and Others Don't One: It's a cryptocurrency. Though his favourite is still Dogecoin, he also invested a lot in Bitcoin. Treasuries rallied on Thursday despite stronger-than-expected U.S. economic data, with many participants pointing to short-covering demand as the reason.“Hedge funds overall were probably keenly involved in the rates move, but I don’t think they were alone,” said Richard Kelly, head of global strategy at Toronto-Dominion Bank. Among the catalysts for the bearish tilt were Democratic victories in the Georgia Senate run-off race that paved the way for another round of stimulus spending, and the rollout of coronavirus vaccines. The meme-inspired token rallied 37% in … I’ve even seen a user state “Dogecoin will be #2 soon. Elon Musk Wants Coinbase To List Dogecoin. Elon Musk has helped to drive popularity of cryptocurrencies, including bitcoin and dogecoin. Popular US retail trading platform Robinhood, which was at the centre of the Gamestop (GME) and AMC (AMC) trading dramas at the start of the year, was on Thursday accused by users of restricting trading in Dogecoin. Elon Musk and cryptocurrencies. Despite the dumbfounded silliness of Dogecoin, its price shot up 40% from $0.003 to $0.005 after Musk tweeted the following: Looks Like Elon Musk Support Dogecoin. Tesla CEO, Elon Musk has openly endorsed Dogecoin [DOGE] multiple times. 10-year yields have jumped more than 60 basis points since the end of December to trade at 1.58% on Friday. That tweet sent dogecoin's price soaring, in addition to making it a trending topic on Twitter. Merry Christmas & happy holidays! The parody coin had a huge pump after a series of tweets by Musk rising from $0.0397 to $0.0576 equating to a 68.92% price increase, retracing to around $0.05 at the time of writing. There is no such thing as bad advertisement. People literally don’t understand the value of memes. Click the link below, see for yourself. Just last month, Doge secured over 800% in a single day, after trading volume went brrr after an overnight price pump stirred the waters. Musk’s activity on the social media platform recently led to Dogecoin… Musk’s preference for dogecoin has left many wondering what his plans for the cryptocurrency might be. Dogecoin has been pumping for days in a row with Elon Musk’s tweets. It’s pretty cool. Consumer spending at restaurants and sales of discretionary goods such as jewelry, alcohol and tobacco led the growth of retail sales in March.The economy was also boosted by a jump in investment from overseas. The "memecoin" was created in 2013 as a … Also Read, All That You Need To Know About Pump And Dump pic.twitter.com/uk6NSPwR9R, As he supported dogecoin, Musk criticized its big brother, bitcoin. It puts the coin in the top 10 most valuable cryptocurrencies when measured by market capitalisation. Altcoins have been experiencing the … The metal, which reached a record of $2,883.89 in February last year, has benefited from stricter emissions rules that boost usage in autocatalysts.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Dogecoin was worth as much as $55 billion on Friday, nearly tripling on the day. Tesla has invested $1.5 billion into Bitcoin, according to an SEC filing today. More large investors are starting to view bitcoin, whose supply is capped at 21 million units, as a form of "digital gold" to hedge their portfolios. — Elon Musk (@elonmusk) February 14, 2021. The electric vehicle executive tweeted, “Bitcoin is almost as bs as fiat money.”, Although Musk has often tweeted critically about bitcoin, the tweets have seemed inconsistent to some. Dogecoin’s rise has coincided with a surge of populism in financial markets around the world and a revival of interest in cryptocurrencies. Elon Musk Has Helped Dogecoin Soar, but Does the Tesla CEO Own Any? How Does Cryptocurrency Work – and Is It Safe? Prices rose above the 50-day moving average on Thursday, a positive signal for traders who follow chart patterns. Retail sales growth was 6.3% in March when calculated on a two-year average growth basis -- which removes distortions created by last year’s lockdowns -- up sharply from the rates seen last year.“We are seeing a bit more balanced recovery in the Chinese economy,” Wang Tao, chief China economist at UBS AG, said in an interview with Bloomberg TV. Mashable - The crytocurrency that was started as a meme aka Dogecoin has hit an all time high valuation rising more than 110% in the past day. ", Robinhood has since said it was “experiencing issues with crypto trading”. And it’s almost impossible to say when that’s going to happen. It climbed to a pinnacle of about 8.2 cents and a market capitalization of $10.5 billion. It’s now up 18,000% from a year ago, when it traded for $0.002 and was worth about $250 million.Demand was so brisk for the token that investors trying to trade it on Robinhood crashed the site, the online exchange said in a blog post Friday. “Dogecoin’s rise is a classic example of greater fool theory at play, Dogecoin investors are basically betting they’ll be able to cash out by selling to the next person wanting to invest. Dogecoin has soared almost 200% to a new-all time high of $0.3922 (£0.28), riding a broader wave of interest in cryptocurrencies that has been cresting in … $1,000 invested on Jan. 1, 2021 would now be worth $40,879.29. Lower yields boost the appeal of bullion, which doesn’t offer interest. Dogecoin Frenzy Overloads Robinhood Crypto Order System, Dogecoin price quadruples as Elon Musk memes drive cryptocurrency to new record high, The Crypto Daily – Movers and Shakers – April 16th, 2021, Much Wow: Slim Jim Has a Dogecoin Strategy. Two: One... (Bloomberg) -- The frenzy around digital tokens is taking its zaniest turn yet in the price of a token created as a joke, buckling the crypto trading system at Robinhood Markets. (Bloomberg) -- Gold headed for its best week since December amid a retreat in bond yields and a report that top buyer China may import more of the metal.After weeks trading in a narrow range, gold has advanced as Treasuries yields and the dollar head for weekly losses. Dogecoin is known for being the cryptocurrency that arose from an internet joke, which is why some people call it the “joke currency.” Dogecoin launched in 2013. Inbound investment into China rose almost 40% to $45 billion in the first three months of 2021, according to data from the Ministry of Commerce released Thursday. The price of Dogecoin first began surging at the beginning of the year after Tesla (TSLA) founder Elon Musk began tweeting about it. Additionally, with governments printing loads of cash, many investors are turning to cryptocurrencies in a bid to minimize the effect of inflation on their investments. Other celebrities have begun tweeting about the token following the attention from Musk. Related: Elon Musk and Dogecoin are taking over the internet. Has Musk invested in Bitcoin? It puts the coin in the top 10 most valuable cryptocurrencies when measured by market capitalisation, and above several major banks such as Barclays (BARC.L), which has a market cap of $44 billion. Specifically, when he said Dogecoin will become the currency of the earth. The move saw Bitcoin's price fall over 3% to $61,379 (£44,670) in morning trade in London. After Volatile IPO, How High Will Coinbase Go? Dogecoin's price was at $0.060908 - up 4.2 percent in 24 hours - as of Monday morning. How ARK Invest Founder Cathie Wood Made Her Fortune, Meet Elongate, The Newest Cryptocurrency Born From an Elon Musk Tweet. This should add more balance in what looks to be a steady recovery ahead.Chang Shu, chief Asia economistFor full report, click hereAlthough Beijing has promised “no sharp turns” in monetary and fiscal support this year, some prominent economists have warned that premature tightening could still put the recovery at risk. “International travel is not coming back this summer, but as far as the two biggest markets go -- China and the U.S. -- it’s encouraging.”Commodities faced a broad-based surge this week, with oil and metals both topping key technical levels alongside a weaker dollar and lower U.S. Treasury yields. The crypto can be used for payments in much the same way as bitcoin but is far smaller and less well known or used. : Daniel MossThe recovery last year was led by strong investment in real estate and infrastructure spurring demand for industrial goods, while overseas orders for medical goods and electronic devices fueled exports. Musk's tongue-in-cheek comments, which sent the dogecoin price up by around 5% yesterday, come after a thumping 12-months for dogecoin, one of the oldest alternatives to bitcoin. Prices are up about 2% this week, on course for the biggest gain since Dec. 18. The parody coin had an enormous pump after a sequence of tweets by Musk rising from $0.0397 to $0.0576 equating to a 68.92% value enhance, retracing to round $0.05 on the time of writing. Since Elon responded to it; we will cover it. He noted Ether’s recent record and increased activity in decentralized finance or DeFi, adding that “decentralized exchange coins will be in focus in the next few days, given that the market has validated Coinbase at a $100 billion valuation.”Other tokens with shaky to no fundamentals are also rising. When some people saw the massive rise in different cryptocurrencies, they made the coin to mock the huge crypto population. Dollar declines helped spur a broad rally in raw materials, with the Bloomberg Commodity Index also on track for its best week of 2021.Bullion is showing tentative signs of breaking out of a slump following three straight monthly losses. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. ‘Now that $1 is an imminent reality, we should all pledge to HODL to $10,’ says one cryptocurrency investor. Dogecoin has appreciated more than 2,000% in value just since the start of the 2021. Musk admitted that he only owns 0.25 Bitcoin himself in a tweet in 2018, and reconfirmed this in May 2020. Some $68 billion worth of Dogecoin changed hands in the prior 24 hours as of 4:45 p.m. in New York, the most since June, CoinMarketCap.com data showed.Doge’s surge is part of a rise in altcoins, a term for all the digital tokens that have sprung up in imitation of Bitcoin. That was the highest for that period in comparable data back to 2002.Markets were choppy following the data release but ended the day little changed, with the benchmark CSI 300 Index paring an earlier loss of as much as 0.6% to finish up 0.35% for the day. Tesla has invested $1.5 billion into Bitcoin, according to an SEC filing today. Dogecoin has a market capitalization of about $1.3 billion. Eccentric businessman Elon Musk tweets in support of DogeCoin moving its price up 68.92%. Out of the nearly 8,400 tokens, Dogecoin, Elon Musk’s favorite joke, ranks in the top twenty, in tenth place as of Feb. 11 with a $9.51 billion market cap. Also Read, All That You Need To Know About Pump And Dump But many people may not be familiar with dogecoin, much less why the Tesla chief likes it. And it is no longer battling alone to support the euro economy, as the pandemic induced governments to spend more and to create an 800 billion-euro Recovery Fund, seeded by joint European Union borrowing. One word: Doge. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk on Thursday gave an indication on why the electric vehicle maker invested inBitcoin(BTC) and not Dogecoin(DOGE) — a … Dogecoin Ranking Source: Investing.com Many see demand for cryptocurrencies growing as more people take to shopping online. Elon Musk has invested a lot of time and effort into pushing Dogecoin. That may explain why dogecoin's price has rallied. Elon Musk has been vocal about how his tweets about Dogecoin are nothing more than just jokes, but it did not stop the cryptocurrency’s price to soar above new all-time highs, given the amount of followers Musk has. He shouted out Dogecoin in a tweet saying, "One Word: Doge." Musk in excitement tweeted the picture of a dog on the front page of a magazine, pledging allegiance once again. (Bloomberg) -- Hedge funds have been a major player in this year’s Treasury selloff, offloading more than $100 billion of the securities since the start of January, according to holdings data.The world’s biggest net sales of U.S. government debt so far in 2021 has been in the financial center of the Cayman Islands, well known as a domicile for leveraged accounts. Consumer spending had lagged, but the latest figures showed a turnaround. Back in 2018, Elon Musk owned only a small amount of cryptocurrency at 0.25 BTC. “The market broadly built up some decent short positions in a relatively short time.”U.S. Dogecoin is surging after billionaire Elon Musk and other celebrities appeared to back the cryptocurrency on Twitter.. On the 12-hour chart, Dogecoin broke out of an ascending wedge pattern on April 10, thanks to Elon Musk's comments on Twitter. In April 2020, Musk tweeted that dogecoin was his favorite cryptocurrency. Elon musk loves Dogs and it’s not his first making a reference to dogecoin publicly. On Friday, bullion extended gains to the highest since February after Reuters reported that China has given banks permission to import a large amount of bullion to meet domestic demand.The overall robust performance in commodities this week was “being supported by a surprise drop in U.S. Treasury yields accompanied by a weaker dollar,” said Ole Hansen, head of commodities research at Saxo Bank. News of It Sends DOGE to a New ATH, China Joins U.S. as Engine of Global Recovery With Record Growth, China's Geely targets slice of premium electric car market with 'startup' brand Zeekr, Wall Street Week Ahead: Tech retakes market lead as investors eye yields, earnings, Hedge Funds Nailed Treasuries Rout With $100 Billion in Sales, Oil Has Best Week Since Early March on Improving Demand Outlook, Policy hawks, courts will test ECB and euro debt markets, Gold Set For Best Week Since December With Yields Retreating, Dogecoin’s Wild 550% Ride Makes Millionaires and Gives Crypto Pros Migraines. All along, crypto diehards who say the blockchain technology will rewire the financial community have been plugging crypto, getting rich in the process.The Shiba-Inu themed Dogecoin was created as a joke by software engineers Billy Markus and Jackson Palmer in 2013. Michael Sonnenshein, Grayscale Investments CEO, joins Yahoo Finance Live to break down Coinbase's milestone success and the outlook for cryptocurrency. Still, progress on the talks has been uncertain in recent days.Despite strong recovery signals from China and the U.S., Covid-19 continues to slow growth elsewhere. The tweet sent shares of Dogecoin … Too much concentration is the only real issue imo. In fact, the way Musk has been contributing to a shift in markets has been termed 'The Musk Effect.' Bitcoin (BTC-USD) and ethereum (ETH-USD) — the world's two biggest cryptocurrencies — both reached new all-time highs this week, a rally that coincided with the stock market listing of Coinbase (COIN). The 23-member Bloomberg Commodity Spot Index broke out to the highest since late February after hedge funds trimmed their net bullish positions for six straight weeks.While the oil market is facing an increase in supply in the coming months, although the Organization of Petroleum Exporting Countries said this week that rising demand should allow for global stockpiles to deplete. He has always seemed to be the different-kind-of-entrepreneur - but one the sure thing that is undeniably difficult to ignore is how his mind works - his entrepreneurship. As the world’s second-richest person and with a net worth of more than $180 billion, Musk has the financial muscle to buy all dogecoin on the market today if he wanted. Musk has more than 41 million Twitter followers, giving the tech billionaire a huge audience when he lauds dogecoin and criticizes bitcoin. As the world’s second-richest person and with a net worth of more than $180 billion, Musk has the financial muscle to buy all dogecoin on the market today if he wanted. Many are speculating on the part that Elon Musk has either invested in Dogecoin or he just has some alternative motives. Coinbase's direct listing is bringing attention to crypto, but there's some "hopium" going on in DeFi, says Breitman. The European Central Bank has held sovereign debt yields low through bond purchases, and recently increased buying in its 1.85 trillion-euro ($2.22 trillion) emergency stimulus scheme, known as PEPP. This breakout has a … Dogecoin has been green over the past one week, more thanks to its pioneer Elon Musk. Twitter; Getty Images. Retail sales beat expectations while industrial output growth moderated.The latest data puts China on course to grow well above its annual target of more than 6%, supporting the view that China and the U.S., where economists predict 6.2% growth, will both outperform other major nations this year.