The zooming value was the latest indication that traded values aren’t as reasonable as Wall Street denizens would like the public to believe since the wild roller coaster of GameStop trading. (Musk tweeted “Gamestonk!” while that was unfolding.)
Dogecoin launched in 2013 as a joke that mocked the idea of digital currency. But it has recently become the darling of social media and gained an extra powerful boost from Musk:
Musk appears to be highlighting some of the potential problems with heavyweight social media influence on cryptocurrency values. Other celebrities are also getting in on Musk’s latest shiny thing, including KISS rocker Gene Simmons:
And rapper Snoop Dogg:
Bitcoin, the real big dog in the cryptocurrency competition, has also been wagging its tail. It topped a record $40,000 a coin in trading Saturday, boosting its total value to $1.2 trillion, Bloomberg reported.