Elon Musk ‘Ironic’ Comment That Dogecoin Could Become ‘Currency of Earth’ Spikes Value

Elon Musk ‘Ironic’ Comment That Dogecoin Could Become ‘Currency of Earth’ Spikes Value

Elon Musk, the world's richest man with an estimated net worth of $197 billion, is having fun again. And that always sends the market into a tizzy.This time it's Dogecoin, a cryptocurrency never intended to be taken seriously— how could it be, with a crypto coin that features a dog's head?"Arguably the most entertaining outcome, the most ironic outcome, would be that Dogecoin becomes the currency of Earth of the future," Musk said earlier this month on Clubhouse, an audio-only app.A visual representation of the digital cryptocurrency Dogecoin is shown on January 29, 2021 in the Netherlands. Elon Musk has once again tweeted about Dogecoin.

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Dogecoin, cooked up by software developer Billy Markus as a joke in 2013, is nevertheless on the move, gaining more than 50% this month.Dogecoin gets its name from the Shiba Inu dog from the "Doge" meme, and the dog's head is featured on just about everything, including the cryptocurrency's symbolic coin.Dogecoin is difficult to convert to cash or use in a commercial transaction. But then parody was never intended to have any currency outside comedy. Musk also included a photo of "Dogue" magazine, an apparent play on fashion leader "Vogue" in his comments