Dogecoin is crazy! The market value reaches 50 billion US dollars, surpassing Ford and Heinz. According to CoinDesk data, in the past week, the total market value of Dogecoin once exceeded 50 billion US dollars, with a maximum increase of more than 400%. This even exceeds the market value of Ford Motor and Kraft Heinz, catching up with Twitter. The recent trend of Dogecoin, which was created as a joke at the beginning, is quite astonishing. According to CoinDesk data, in the past week, the total market value of Dogecoin exceeded $50 billion at one time, with a maximum increase of more than 400%. This even exceeds the market value of Ford Motor and Kraft Heinz, catching up with Twitter. Someone once made a statistic about this. If you invest $1,000 in each of the following cryptocurrencies in 2016, their current value is: Ethereum (ETH), $273,716; Bitcoin (BTC), $148,194; Litecoin (LTC), US$87,900; XRP (XRP), US$267,900; Dogecoin (DOGE), US$1.03 million. There is a market view that the recent surge in Dogecoin is related to the enthusiasm of Tesla founder Musk. On April 15, Musk posted a picture of “dogs growling on the moon” on social platforms, which may allude to Musk’s intention to bring Dogecoin to the moon. And Musk’s enthusiasm for Dogecoin has long been. As early as early February this year, he tweeted on social media: We don’t need to be billionaires to own Dogecoin, Dogecoin is the people’s digital currency. I didn’t drink too much, I didn’t feel depressed, I only had Dogecoin in my heart. After his remarks, Dogecoin had soared 48% within 24 hours. After the relevant tweet was published, a Reddit forum user analyzed that a certain mysterious IP address that started trading Dogecoin in 2019 has accumulated more than 36 billion coins, worth about 3 billion U.S. dollars, and this mysterious IP address Controlling 27% of the total amount of Dogecoin in circulation, the time of transaction is also quite consistent with the time when Musk spoke for Dogecoin on Twitter. Forum users speculated that if this address is not Musk himself, then he is also a faithful believer of Musk. However, in addition to the enthusiasm of Dogecoin’s skyrocketing, it also triggered people’s worries about a potential bubble in the cryptocurrency market, and many analysts came out to warn of risks. Michael Novogratz, CEO of Galaxy Digital Holdings, believes that Dogecoin “has no real value”, which is reminiscent of GameStop. If a friend of mine invested in Dogecoin at such a price, I would be very, very worried. David Kimberley, an analyst at Freetrade, an investment app in the UK, said in an interview that the rise of Dogecoin is a classic example of the “big fool theory”: people are buying cryptocurrency, not because they think it has any meaningful value. , But because they hope that other people will come in and push up the price, and then they can sell and make money quickly. According to public information, Dogecoin was founded by Jackson Palmer and Billy Markus when the price of Bitcoin rose rapidly in 2013. At that time, it borrowed the hot Shiba Inu emoji as a symbol of Dogecoin and rearranged the source code of Bitcoin. , And added the element of Doge Meme. As of press time, Dogecoin is reported to be $0.360, down 7.35% in 24 hours, and the current total market value is $46.54 billion.