The price of meme cryptocurrency dogecoin (DOGE) soared more than 55% Sunday, setting a new all-time high, after American rapper Snoop Dogg joined DOGE booster-in-chief Elon Musk and Kiss rock star Gene Simmons in tweeting a meme of a Shiba Inu, the dog breed that represents the DOGE token.
The price of the cryptocurrency started trading around $0.056 at the beginning of the day and rose to $0.0872 Sunday afternoon before settling back to $0.084, up 55%, in the last 24 hours, eclipsing the all-time high of $0.078 set late last month. Year to date DOGE is up more than 1,380%.
Hours after Dogg’s Tweet, Musk, who, when he’s not busy boosting DOGE also serves as Tesla’s CEO, tweeted a Lion King-inspired picture of himself holding up Simmons holding up Snoop Dogg who in turn is holding up a Shiba Inu.
The Tweets by the trio of DOGE lovers apparently were enough to cause the meme-based cryptocurrency to rise four spots on the list of the most valuable cryptocurrencies into seventh place, racing past Bitcoin Cash (11), Chainlink (10), Litecoin (9) and BNB (8). DOGE now has a current market value of $10.8 billion. Pop music star Kevin Jonas also added his support for the cryptocurrency with a Tweeted Saturday evening.
Dogecoin Smokes Its All-Time High After Snoop Dogg Becomes Snoop DOGE, CoinDesk, Feb 8
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