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)

Dogecoin was less than a cent at the start of this year. But managed to hover between three and seven cents range. The coin has spent the past few months in the three-to-seven-cent range.

After Elon Musk’s tweet on Thursday turned the already surging crypto to far newer heights. He shared a painting captioned ‘Doge Barking at the Moon’ sort of a modern art. The attached painting is by Spanish sculptor-painter Joan Miró. The painting is today carried in the Philadelphia Museum of Art.

As the time of writing this article, Dogecoin’s 24-hour window on Coinbase shows a 112.89% growth, with the value of the cryptocurrency currently at $0.29, almost 30 cents.

In the past few days the currency has seen 300% surge in price but with tremendous volatility.

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