Too Long; Didn't Read
Dogecoin marked a 50% rise in value between May 4th, 00:00 am UTC, and May 5th, 15:00 pm UTC. The most common cryptocurrency Bitcoin slumped as much as 5.7 percent in the same time frame. The surge caused Robinhood trading app in the US and WazriX trading platform in India to crash. Elon Musk appeared on his Saturday Night Live Dogefather skit as a joke about the meme-based cryptocurrency. DogeCoin was created by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer, who decided to create a payment system that was instant, fun and free from traditional banking fees.