Elon Musk’s Favorite Crypto Coin, Dogecoin, Increased 121%

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The cryptocurrency market seems to have entered 2021 stronger than ever: Bitcoin price is breaking a record, interest in Ethereum is growing, and the DeFi industry continues to grow. Altcoins also benefit immensely from this bullish atmosphere: Dogecoin (DOGE), according to CoinGecko data, has increased by 121% in the last 24 hours. The price of the cryptocurrency is currently hovering at $ 0.011.

Having a $ 1.3 billion market value, the crypto money gained considerable value along with other altcoins throughout 2020. Around this time last year, before the crypto craze hit the world, DOGE was worth only $ 0.00204887. Now, its price has increased by 441% compared to last year.

Crypto money was the center of attention last year: Elon Musk even said that his favorite cryptocurrency is Dogecoin, which has considerably increased its price. Also, a viral TikTok video about DOGE encouraged people to invest. However, cryptocurrency has some dangerous uses. Last year, hackers started using DOGE to control Monero-mining malware. DOGE was created in 2013 by developers Jackson Palmer and Billy Markus to have fun in the Bitcoin world. However, cryptocurrency has become extremely popular since then. In fact, this seems to surprise even their own manufacturers. Dogecoin is now listed on major exchanges and is easily among the top 30 cryptocurrencies in market value.

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