The surge took Dogecoin on top of the market cap of over $8 billion with a circulating supply of 129 billion. According to CryptoSlate, this is a surge of more than 3,434 per cent over the past year. However, within the past week, Dogecoin managed to grow by as much as 23 per cent.
This tweet was one of the many Dogecoin-related comments Musk has made in recent times. He once said that it would be the “future currency of Earth”. This particular cryptocurrency started as a meme in its initial days while carrying the famous Shiba Inu dog image.
But now, like other competitors, Dogecoin has also gained popularity and even Musk has accumulated a stack for his nine-month-old son.
But that is not the end of the Musk and cryptocurrency tale. In December 2020, while responding to a Twitter thread, started by Artificial Intelligence researcher Lex Fridman, Musk said that the future Mars economy will run on cryptocurrency.
The billionaire, who is one of the co-founders of online payments giant PayPal, also suggested that it could be Marscoin or Dogecoin.
Marscoin And Dogecoin
According to the website of Marscoin, this cryptocurrency is dedicated to supporting the Mars human colony and other space-related programmes intended to get humans living and thriving off of Earth.
“Marscoin is a testbed for experimentation with technologies that might help early colonists on Mars build governance, voting, inventory tracking, trading and capital allocation,” the website explained.
But it looks like Dogecoin could be a more likely candidate for a future economy beyond Earth as it is more popular than Marscoin and shares many decentralised attributes as Bitcoin.
Last year, Musk also changed his Twitter bio to “Former CEO of Dogecoin”. He wrote on the social media platform, “One word: Doge”.
On Christmas 2020, he tweeted, “Merry Christmas & happy holidays!” — attaching an image that included the Dogecoin logo.