It was once billionaire Elon Musk, who until now frequently talked approximately Dogecoin, a cryptocurrency that began as a meme prank, but now is worth $93.38 billion (more or less Rs. 6,84,610 crores). And now a “Dogecoin Rap”, written and performed by Remy, is out and making people go loopy. ‘Reason’, the monthly magazine and website of “free minds and free markets”, has carried the song. “There are more than a few indicators showing that the USA could be headed for a currency crisis. One of them has paws,” read the caption that accompanies the song.
It begins with visuals of Remy as a CNN newscaster, who says, “Naughty news for savers as even those with high-interest savings accounts are seeing their money disappear thanks to inflation.” And that’s the reason how a man’s journey towards making an investment in “dog money” begins. The lyrics are catchy and Remy’s performance has been lauded by people far and wide the Internet.
David Maguire, a user on YouTube, commented: “Remy we need you to sell a couple of NFT’s to fund a whole album. We need it.”
“This could be the most productive video Remy has done yet,” said another user, Kyle Priestley.
On Twitter, people were not only all praises for Remy but also looked as if it would trust the artist.
“This is amazing,” wrote @KaepernickSPAC, a Twitter user.
Another user, @TheMattMacGyver, said he had no idea approximately what others deliberate to do, but he was once “putting it all in dog money”.
Here are some more reactions:
Remy never fails to deliver.
— Razhtro The Inescapable (@orthzar) May 10, 2021
@elonmusk it is advisable have done this skit as polite! To the moon ????
— Abhishek Gupta (@Union_Abhishek) May 9, 2021
Meantime, final Sunday, the cryptocurrency missing over one-third of its price, following Elon Musk’s remarks on Saturday Night Live (SNL), a comedy sketch TV show. The Tesla chief, in some of the show’s segments, said the virtual currency was once a “hustle”.
Asked “what is dogecoin”, Musk replied, “It’s the way forward for currency. It’s an unstoppable financial vehicle that’s going to take over the world.”
Michael Che, a show cast member, countered, “So, it is a hustle?”, Musk replied, “Yeah, it is a hustle,” and laughed.
On Tuesday, at the time of writing, the digital currency was once trading at $0.478543 (Rs. 35 about), down almost 11.45 per cent in the final 24 hours. The cryptocurrency saw a record rally final month, and even in the days leading to Musk’s appearance on SNL, when it hit all-time highs.
Musk, a cryptocurrency fanatic, whose company Tesla has invested $1.5 billion (more or less Rs. 11,000 crores) in Bitcoin, the world’s oldest and largest digital currency, on Sunday tweeted something that not many had anticipated.
“SpaceX launching satellite Doge-1 to the moon next year. Mission paid for in Doge. 1st crypto in space. 1st meme in space. To the mooooonnn!!” Musk tweeted, a day after his SNL appearance.
SpaceX launching satellite Doge-1 to the moon next year
– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space
To the mooooonnn!!https://t.co/xXfjGZVeUW
— Elon Musk (@elonmusk) May 9, 2021
On crypto data tracker CoinGecko.com, Dogecoin has jumped more than 800 per cent over the past month and is now the fourth-largest digital currency, with a market capitalisation of $73 billion (more or less Rs. 5,36,220 crore). It hit a record high final Saturday (May 15), when the value of one Dogecoin was once $0.715669 (about Rs. 53).
Created in 2013 by software engineers Billy Markus and Jackson Palmer, the digital currency, like Bitcoin, offers recourse to the inadequacies of traditional banking systems. It was once never meant to succeed and was once used and traded for a very long time as a prank.