It was billionaire Elon Musk, who until now regularly talked about Dogecoin, a cryptocurrency that started as a meme but is now valued at $ 93.38 billion (about Rs 6,84,610 crore). And now a “Dogecoin rap” written and performed by Remy is out and making people go crazy. The monthly magazine and website of “Reason”, “Free Minds and Free Markets” has taken the song forward.
“Various indicators are showing that the US may be headed for a currency crisis. One of them has claws, “read the caption with the song. It begins with scenes of Remy as a CNN newscaster who says, “Bad news for savers, even those with high-interest savings accounts are seeing their money disappear for inflation.” And thus begins a man’s journey to invest in “dog money”. The songs are catchy and Remy’s performance has been appreciated by people on the internet
David Maguire, a user on YouTube, commented: “Remy we need to sell you some NXT to fund an entire album. We need this.” “This may be the best video Remy has done yet,” said another user, Kyle Priestley.
On Twitter, people were not only praising Remy but also seemed to agree with the artist
“It’s amazing,” wrote @ kapernickSPAC, a Twitter user.
Another user, @ TheMattMacGyver, said he had no idea about what others planned to do. But he was “putting all this in dog money”.
Meanwhile, after Elon Musk, last Sunday, the cryptocurrency lost more than a third of its price on Saturday Night Live (SNL), a comedy sketch TV show. In one segment of the show, the Tesla chief stated that the virtual currency was a “hustle”.
What Musk said about Dogecoin
Asked “What is Dogecoin”, Musk said, “This is the future of currency. It is an unstoppable financial vehicle that is going to take over the world. ” Michael Che, a show cast member, countered, “So, this is a hustle?”, Musk replied, “Yes, it’s a hustle,” and laughed.
On Tuesday, at the time of writing, the digital currency was trading down by about 11.45 per cent to $ 0.478543 (about Rs. 35) in the last 24 hours. The cryptocurrency saw a record rally last month, and even due to Musk’s presence on SNL when it reached an all-time high.
Kasturi, a cryptocurrency enthusiast whose company Tesla has invested in, spent $ 1.5 billion (about Rs 11,000 crore) on Bitcoin, the world’s oldest and largest digital currency, on Sunday, something that many did not expect.
“SpaceX launched the satellite Doge-1 on the moon the following year. Paid for the mission at Doge. The first crypto in space. 1 mem in space. To Moon !! “Musk tweeted, one day after his SNL appearance.
On the crypto data tracker CoinGecko.com, DogCoin has jumped over 800 per cent compared to the previous month and is now the fourth-largest digital currency with a market capitalization of $ 73 billion (about Rs 5,36,220 crore). It set a record high last Saturday (May 15), when a dogecoin was valued at $ 0.715669 (about Rs. 53).
A digital currency like Bitcoin, created in 2013 by software engineers Billy Marcus and Jackson Palmer, offered inadequacies to traditional banking systems. It was never meant to be successful and was used and traded for a long time as a joke.