Business

Dogecoin proves to be valuable, value surges above 30 cents

By Adnan Nasir

As per digital currency exchange, Coinbase, the price of Dogecoin has jumped over 30 cents. On Wednesday, the cryptocurrency was valued at 13 cents.

Dogecoin was initially created as a joke but it turned out to be remarkably valuable.

Dogecoin was inspired by the Doge meme which shows Shiba Inu looking sideways with eyebrows raised, according to the Know Your Meme website. Similarly, another cryptocurrency, meme coin was created as a spoof in 2013, joking at the surge in the value of the bitcoin.

As Coinbase started trading publicly on the Nasdaq exchange, the interest for cryptocurrency grew. It ended its first day on Wednesday with a market value of $85.78 billion and a share price of $328.28.

Tesla CEO, Elon Musk is among those to celebrate Dogecoin’s success.

 

Tags: Bitcoin Cryptocurrency Dogecoin Elon Musk

Adnan Nasir

Adnan Nasir is pursuing post-graduation in Finance. A media enthusiast with interest in social policy and development. Adnan is currently working as Business and Current Affairs reporter at USAnewshour.com and can be reached at adnannasir39@gmail.com