Elon Musk’s meme cryptocurrency Dogecoin records the highest jump

You must have heard about Dogecoin which saw an upsurge after a tweet from Tesla CEO Elon Musk recently. This cryptocurrency reached an all-time high after 70.22 percent in the last 24 hours which has further made the highest value of Dogecoin standing at $0.122680 or almost 12 cents. 

Dogecoin’s memes also became the laughing stock on the internet recently and now the market cap of the ‘memecoin’ has now crossed $14 billion.

A report revealed that the cryptocurrency increased to nearly 1,900 percent since the start of 2021 and it has seen a surge of 117.47 percent during the same period.

In February, Musk bought Dogecoin - a cryptocurrency - for his son X Æ A-Xii. Earlier, Musk triggered a surge in Dogecoin`s price with a single word tweet "doge."

Similar to bitcoin, Dogecoin is a digital coin that is mainly used for e-transactions and its meme has a picture of the shiba inu on it. Invented by software engineers Billy Markus and Jackson Palmer in 2013, the price of Dogecoin saw a mammoth rise after Reddit traders targeted it.