Users are urging others to buy in, declaring they could propel the cryptocurrency’s value “to the moon.”
For hours, the page was flooded with memes and images of a shiba inu, the dog breed at the center of the internet meme that inspired dogecoin.
One user called for
a “coordinated” buy-in at 9 p.m. US Central time. Others called on investors in India and Europe to help prop up the virtual currency during US overnight hours.
Even Elon Musk got in on the action, on Thursday tweeting a photo of a fake magazine cover titled “Dogue” instead of “Vogue.”
The Tesla CEO has engaged in similar banter before. Last month, he spread
the word about the cryptocurrency, tweeting: “One word: Doge.” He even temporarily updated his Twitter bio to read: “Former CEO of Dogecoin.”
Months before, Musk tweeted another image of dogecoin, sending
the price up 14%.
The excitement this week has been palpable. Dogecoin’s market cap has soared 380% over the past 24 hours, and currently stands at $6.9 billion, according to cryptocurrency tracker CoinMarketCap
. Its trading volume has surged 2,200% in the same time period.
“Let’s get Elon to shill for us,” one Reddit user wrote.
“It’s up to us to decide what DOGE is worth,” said
another user. “And I’m not selling for pennies.”