Dogecoin, the meme cryptocurrency, shot up an astonishing 55% over the weekend, achieving a new all time high (ATH) after American rapper Snoop Dogg joined DOGE booster-in-chief Elon Musk and Kiss rock star Gene Simmons, tweeted a meme of a Shiba Inu dog, the breed representing the DOGE token.
On Sunday morning DOGE was trading at around $0.056, but by Sunday afternoon it sat at $0.084. This eclipsed its most recent ATH of $0.078 giving it a year on year increase of 1,380%.
On Sunday afternoon, Snoop posted a meme of a Shiba Inu is rappers’ clothing, addressing it to @elonmusk. The meme said ‘Snoop Doge’ in the typography used by the rapper for all his merchandise and album covers.
Some hours later Elon Musk responded, “tweeted a Lion King-inspired picture of himself holding up Simmons holding up Snoop Dogg who in turn is holding up a Shiba Inu,” as Coindesk reports.
Simmons, the legendary rocker, was included in Musk’s meme as the Kiss front man had kicked off the current round of Doge-pumping early Saturday morning with typical modesty, tweeting to the world that he is the “God Of Dogecoin.”
Fans of the three men clearly responded to the fun that was being had on Twitter. Coindesk says of the celebrity tweets, “they were enough to cause the meme-based cryptocurrency to rise four spots on the list of the most valuable cryptocurrencies into seventh place, racing past Bitcoin Cash (11), Chainlink (10), Litecoin (9) and BNB (8).”
DOGE now has a current market value of $10.8 billion. And since Snoop, Elon and Gene tweeted their support, Kevin Jonas of The Jonas Brothers has also joined the Dogecoin fanclub. Which celebrities will join them, and will Dogecoin claim supremacy as the top meme coin on the block.