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Elon Musk, the richest person in the world, said on Wednesday on Twitter that Tesla had suspended taking Bitcoin payments for its vehicles.
Later in the evening, an already down day for Bitcoin turned into a rout - Bitcoin price fell 12% in 24 hours and dropped to its lowest point in almost 3 weeks.
As talk of the currency has gone global, lots of investors dive into the crypto world without understanding what cryptocurrency actually is....
Later in the evening, an already down day for Bitcoin turned into a rout - Bitcoin price fell 12% in 24 hours and dropped to its lowest point in almost 3 weeks.
As talk of the currency has gone global, lots of investors dive into the crypto world without understanding what cryptocurrency actually is....
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What is Dogecoin?
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer on December 8, 2013.
The Dogecoin was intended as a fun alternative to Bitcoin with uses of crowdfunding social causes or giving online tips.
The main difference between Dogecoin and Bitcoin is that the infinite number of Dogecoins can be produced.
The Dogefather
Thanks to Elon Musk, Dogecoin is up more than 800% over the last month. This self-proclaimed "CEO of Dogecoin" never hides his love of Dogecoin, dubbing it "the people's crypto".
Many believe that there is a strong correlation between Musk's tweets and the coin's price movements.
He has talked up the coin over the past few months, including the announcement on May 9 that it'll be used to pay for a new moon mission launched by his SpaceX rocket company next year.
What happened?
According to CoinMarketCap, last week's surge pushed Dogecoin's market cap to over $70bn, making it become the fourth-most valued coin.
However, after Musk called Dogecoin a "hustle" on Saturday Night Live, Dogecoin lost more than a third of its price on Sunday.
On Wednesday, Elon Musk tweeted again, saying Tesla will stop using Bitcoin as a form of payment over concerns of the cryptocurrency's impact on fossil fuels.
The announcement led the price of Bitcoin to drop over 13%, and Dogecoin plumme...
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer on December 8, 2013.
The Dogecoin was intended as a fun alternative to Bitcoin with uses of crowdfunding social causes or giving online tips.
The main difference between Dogecoin and Bitcoin is that the infinite number of Dogecoins can be produced.
The Dogefather
Thanks to Elon Musk, Dogecoin is up more than 800% over the last month. This self-proclaimed "CEO of Dogecoin" never hides his love of Dogecoin, dubbing it "the people's crypto".
Many believe that there is a strong correlation between Musk's tweets and the coin's price movements.
He has talked up the coin over the past few months, including the announcement on May 9 that it'll be used to pay for a new moon mission launched by his SpaceX rocket company next year.
What happened?
According to CoinMarketCap, last week's surge pushed Dogecoin's market cap to over $70bn, making it become the fourth-most valued coin.
However, after Musk called Dogecoin a "hustle" on Saturday Night Live, Dogecoin lost more than a third of its price on Sunday.
On Wednesday, Elon Musk tweeted again, saying Tesla will stop using Bitcoin as a form of payment over concerns of the cryptocurrency's impact on fossil fuels.
The announcement led the price of Bitcoin to drop over 13%, and Dogecoin plumme...
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@Jane chew
Let's give a big round of applause to them
Missed this event? Don' t worry, we will regularly bring generous awards to our moomooers.
We have received lots of meaningful feedback during this event.
Voices of these moomooers will be given priority
More importantly, they will have a greater chance to win in the next event.
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