Meme-based crypto token Dogecoin (DOGE) hit an all-time high shortly after the trio of American rapper Snoop Dogg, rock star Kiss Gene Simmons, and huge DOGE enthusiast Elon Musk promoted the token in a tweet.
They tweeted a meme of a Shiba Inu, a breed of dog that represents the DOGE token. The price of the cryptocurrency jumped 55% after his tweet.
Dogecoin hits its all-time high
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Earlier in the day, the token was trading at $ 0.056 but rose to $ 0.0872 in the afternoon, gaining 55% in 24 hours to surpass its previous all-time highs of $ 0.078 set at the end of last month.
The annual rate has seen the cryptocurrency rise by more than 1,380%, making it one of the best cryptocurrencies in the period. The cryptocurrency was the 11th most valuable cryptocurrency, but has jumped four places to maintain the seventh position.
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Snoop to launch crypto-token in the future
On the other hand, Snoop Dog announced that he is considering launching his cryptocurrency in the future.
Snoop also hinted that he will be making more contributions in the crypto space in addition to his recent NFT offering through Crypto.com. He also cited similarities between his professional name and Dogecoin, adding that journalist Nick Bilton was absolutely right when he predicted the existence of Dogecoin and Snoopcoin one day.
While his version of the token is in the form of NFT on Crypto.com with ‘Snoop Dogge coins’, his proposed token going forward will be a true cryptocurrency.
At the time of writing, users have already purchased 3,000 editions of Snoop Dogg NFT.
Snoop, like Kiss’s Gene Simmons and billionaire Elon Musk, is one of the main supporters of the Dogecoin cryptocurrency. Their activities and frequent tweeter interactions about the token have increased the value of the cryptocurrency.
But Snoop is not only interested in Dogecoin, but also in Bitcoin (BTC). He recently stated that the end of the pandemic will not see the demise of the Dogecoin token as some speculate.