The picture of Shiba Inu was made as a joke, but it surged 800%… Now is?

The price of’Dojicoin’, a virtual currency made for fun, has soared 800% last week, attracting attention.

On the 1st, Bloomberg News reported that Reddit, a famous online community in the US, which is currently fighting a’gamestop short selling war’ in the US stock market, reported that it surged as a post on’Let’s make Dojicoin the second gamestop’ was posted.

According to Bloomberg News, Dogecoin recorded $0.02582 per Dogecoin on the 30th of last month. The next day, the 31st, recovered to $0.03, but compared to the peak three days ago, it is half of the level.

Dogecoin’s trading volume surged as the talk of creating a’virtual currency version of GameStop’ in online communities such as Reddit.

Later, as Elon Musk, Tesla’s chief executive officer (CEO), made a statement, the volume of transactions gained momentum.

On the 28th of last month, Musk suddenly changed the self-introduction section of his Twitter account to `#bitcoin`. At the same time, he left a meaningful saying, “Looking back, it was inevitable.” In Musk’s words, the bitcoin market slumped.

Investors judged by Buy Shin-Sohra entered the market, and the price soared to $38,000 each (4246 million won).

Reuters said, “Investors responded to Musk’s words. After Musk’s tweet, the price of cryptocurrency has skyrocketed by 14%.”

Also, on the 29th, Musk posted a graphic of’Dogue’ parodying’Vogue’ on Twitter. We added the hashtag `Bitcoin` to the Twitter profile. Since then, the price of Dogecoin has soared, and on that day, the market capitalization of Dogecoin was $8.2 billion, making it the ninth largest cryptocurrency in the world.

Dogecoin, created in 2013, is a cryptocurrency that employs the Internet mom mascot. When Billy Marcus from IBM puts his Dogecoin development plan on the Internet as a joke with a picture of Shiba inu popular at the time, Jackson Palmer from Microsoft (MS) contacted and was born. For this reason,’Doji Coin’ is also called a joke coin.

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