/Dogecoin quickly becoming the cryptocurrency of the stars – Fox Business

Dogecoin quickly becoming the cryptocurrency of the stars – Fox Business


Dogecoin is becoming the cryptocurrency of the stars.

The meme-inspired coin surged to an all-time high over the weekend after Snoop Dogg and Gene Simmons declared themselves fans on Twitter.

Dogecoin hit its record peak of about 8.7 cents on Sunday, a day after the “Gin N Juice” rapper born Calvin Broadus tweeted a mock “Snoop Doge” album cover with a dog’s face photoshopped onto his body.

The iconic artist’s post tagged billionaire Tesla chief Elon Musk, whose tweets have caused previous price spikes for Dogecoin, which is now the eighth-largest cryptocurrency by total market value, according to CoinMarketCap.com.

Simmons, the former Kiss frontman, has also joined the Dogecoin craze. He called himself the “God Of Dogecoin” in a Saturday tweet a day after claiming he had bought “six figures” worth of the digital currency, which was initially created as a joke.

“Woopie!!! ⁦@dogecoin skyrocketing…to the moon,” Simmons tweeted Sunday along with an image of himself in his black-and-white Kiss makeup.

Gene Simmons of Kiss on stage
Gene Simmons of Kiss on stage at the Tons of Rock festival on June 27, 2019 in Oslo, Norway.
Redferns

Musk welcomed Simmons and Broadus to the Dogecoin fold with a bizarre meme of his own. Like a similar image he shared last week, it depicted the three men as a towering chain of Rafikis from “The Lion King” lifting up a baby Simba with the head of a shiba inu dog.

“So … it’s finally come to this,” Musk tweeted.

Dogecoin continued its rally into Monday morning and was recently trading at about 8.2 cents, up roughly 32 percent from a day earlier, according to CoinDesk.

The seven-year-old coin’s market value has more than doubled over the past week to about $10.7 billion, CoinMarketCap’s data show.

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