Snoop Dog hints at launching his cryptocurrency in future
- Their activities and frequent tweeter engagements about Dogecoin have increased the coin's value.
- Snoop Dog says he plans to contribute more to the crypto space by introducing his crypto asset in the future.
- Snoop has always been an ardent believer of the Dogecoin crypto asset, despite it being a meme-based token.
Meme-based crypto token Dogecoin (DOGE) hit an all-time high shortly after the trio of American rapper Snoop Dogg, Kiss rock star Gene Simmons, and DOGE big-time enthusiast Elon Musk promoted the token in a tweet.
They tweeted a meme of a Shiba Inu, a dog breed that represents the DOGE token. The price of the cryptocurrency surged 55% after their tweet.
Dogecoin reaches all-time high
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
At the beginning of the day, the token traded at $0.056, but rose to $0.0872 in the afternoon, gaining 55% within 24 hours to surpass its previous all-time high of $0.078 set late last month.
The yearly rate has seen the cryptocurrency rising by more than 1,380%, making it one of the best crypto performers within the period. The cryptocurrency was the 11th most valuable cryptocurrency, but it has jumped four places to maintain the 7th position.
Snoop to launch crypto-token in 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 via Crypto.com. He also cited similarities between his professional name and the Dogecoin, adding that journalist Nick Bilton was absolutely right when he predicted a Dogecoin and Snoopcoin existence one day.
While his version of the token is in form of NFT on Crypto.com featuring “Snoop Dogge coins”, his proposed token in the future will be a true cryptocurrency.
At the time of writing, users have already bought 3,000 editions of the Snoop Dogg NFT.
Snoop, like Kiss’ Gene Simmons and billionaire Elon Musk, is one of the top supporters of the Dogecoin cryptocurrency. Their activities and frequent tweeter engagements about the token have increased the cryptocurrency’s value.
But Snoop is not only interested in Dogecoin, but in Bitcoin (BTC) as well. He recently stated that the end of the pandemic will not see the fading away of the Dogecoin token as some are speculating.