Dogecoin, which began as a joke, has gained celebrity support from people like Elon Musk and Snoop Dog, rock musician Gene Simmon driving up the price. Musk expressed his interest in the coin once more in April, saying, “Doge barking at the stars.” Following Elon Musk’s tweet, a large number of people purchased large amounts of Dogecoin (DOGE), causing the price to rise from a 24-hour low of 0.062 dollars to 0.078 dollars, a 20% increase.
The key explanation for the price increase is said to be the rising value of other crypto types such as Bitcoin and Ethereum, which has propelled the value of Dogecoin. Musk tweeted a picture of a dust storm with a Shiba Inu dog face as the ‘dogecoin norm’ blowing over the ‘global financial system’ on April 18 morning. Musk described it as “inevitable.” The DOGE run seems to be unstoppable. Now as the prices reached a new peak, the meme cryptocurrency briefly replaced the payments-focused XRP as the fourth-largest cryptocurrency by market capitalization.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
How to Invest in Dogecoin from India?
In India, crypto investors can open accounts on any of the Dogecoin-supporting crypto exchanges including WazirX, BuyUcoin, and others. Interested individuals can Dogecoin using a debit or credit card, bank transfer, IMPS transfer from the available platforms.