Dogecoin, created as a joke by its creators in 2013 based on the Shiba Inu dog that was a popular Internet meme then, has now kindled renewed interest after Tesla CEO Elon Musk tweeted a TMZ video about it and said it could be the future of cyptocurrency.
In a recent interview to TMZ, the SpaceX Boss and Dogecoin enthusiast said: “There is a good chance that crypto is the future currency of the world. Then the question is which one could that be. It could be multiple," he said.
Referring to the origins of Dogecoin which was invented as a joke, Musk said:. “Dogecoin was created to make fun of cryptocurrency. Fate loves ironies. The currency that was invented as a joke becomes the real currency,” Musk said.
However, Musk cautions buyers not to invest their life savings into cryptocurrency. "That is unwise. If you want to speculate and have some fun, there is good chance that crypto is the future currency," he said.
Dogecoin was created by software engineers Billy Marcus and Jackson Palmer in 2013 to poke fun at Bitcoin.
The price of Dogecoin jumped after Musk's tweet. According to Coindesk, the price currently stands at $0.723573, witnessing a 25.77 percent jump in 24 hours after Musk tweeted about it.