After soaring up for 300% in the past few days the most talked about crypto Dogecoin has now continued its journey towards the $1 mark or as the world says towards the moon. A curreny which was started as a joke, now has a market cap of more than $53 billion.

On tuesday, the traders and fans tried to push up the price to equal up with 4/20, or April 20, date associated as pot-smoking or cannabis smoking. The social media frenzy started with trending hashtags like #DogeDay #Doge420 on Twitter.

In the past week, the crypto world was breaking, Bitcoin falling for five straight days to go below $55,000. The second largest crypto-currency Ether falling 5.2% to $2,093.

But on the other hand Dogecoin has gained more than 400% in the past week itself, shoing the momentum and strenght of the investors.

One of the reason for Dogecoin to pe propelled to crazy valuations in such a short period of time is the involvement of CEO of Tesla Elon Musk. Him sharing the memes and talking about the coin has created a hype which itself is driving up the prices.

Dogecoin which started as a joke is currently as its highest ever-value yet and all thanks to the memes and Tesla CEO Elon Musk. Co-founded by then IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer in December 2013, the cryptocurrency derives its name from one the internet’s beloved memes – the Doge (A Shiba Inu dog)

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