Dogecoin (DOGE) experienced a remarkable 20% price increase today, with its value reaching $0.09285, after none other than Elon Musk decided to change Twitter’s logo to the iconic Doge image. The sudden surge in price has brought attention back to the meme cryptocurrency that has captured the hearts of many.

Dogecoin was created in December 2013 by software engineers Billy Markus and Jackson Palmer. Initially, it started as a joke, a playful homage to the popular internet meme featuring the Shiba Inu dog breed. However, it quickly gained a loyal following and became one of the most well-known cryptocurrencies in the market.

DOGE operates on a decentralized, peer-to-peer network and utilizes the Scrypt algorithm for its proof-of-work protocol. This makes it different from Bitcoin, which relies on the SHA-256 algorithm. Dogecoin’s primary use case is for tipping and microtransactions, thanks to its low fees and fast transaction times.

Elon Musk, CEO of Tesla and SpaceX, has been a vocal supporter of Dogecoin for some time. His tweets and comments about the cryptocurrency have often led to significant price fluctuations. This time, Musk took his support a step further by changing the Twitter logo to the Doge image, and the result was an impressive 20% price jump.

The Dogecoin community is known for its enthusiasm and dedication, with many members holding onto their coins and aiming for the moon. This bullish sentiment has only intensified following Musk’s latest move, and the cryptocurrency’s increased visibility could lead to further adoption and price gains.

While Dogecoin started as a joke, it has proven its resilience and staying power in the fast-paced world of cryptocurrencies. As its popularity continues to rise and more influencers like Elon Musk show support, it is difficult to predict what the future holds for this fun and accessible digital currency. Today’s price surge is undoubtedly a testament to the impact that public figures can have on the market and demonstrates the potential for Dogecoin to reach new heights.