Dogecoin jumps sharply, is up by over 112 per cent days after Elon Musk tweet

At the beginning of the year, Dogecoin had a low value. It was less than a cent but over the past few months, Dogecoin witnessed an upward trend.

Dogecoin could soon outshine Bitcoin. What started as a mere joke is at its highest value ever. As per Coinbase, which keeps a track of the cryptocurrency market, Dogecoin showed a 112.89 percent growth. The value of the cryptocurrency increased by almost 30 cents. This comes days after Elon Musk shared a meme on dogecoin cryptocurrency. On April 14, the market Dogecoin’s value was almost 12 cents. At the beginning of the year, Dogecoin had a low value. It was less than a cent but over the past few months, Dogecoin witnessed an upward trend. But in April, the value of Dogecoin doubled within two weeks and Tesla honcho Elon Musk may have a huge role to play in it. On April 15, Musk shared a painting of a dog barking at the moon by Spanish painter and sculptor Joan Miró. He captioned the picture, “Doge Barking at the Moon”. “To the moon” is the phrase that is often used when cryptocurrencies witness growth in growth. Through this tweet, Musk hinted at the sudden surge in the value of dogecoins. The tweet received over 51,000 retweets, over 30,000 likes and more than 20,000 comments. Soon after Musk’s tweet went viral, Dogecoin witnessed an all-time high.