Robinhood won big with Dogecoin but uncertainty looms over meme cryptocurrency's future

Dogecoin initially started as a joke but now it looks like the joke has turned on those who didn’t take the meme cryptocurrency seriously. The meme-based cryptocurrency that Elon Musk has never stopped tweeting about, reached its highest point in mid-April, more than a 10-cent mark for the first time.

The rally has been led to random outbursts, and the results of a semi-ironic move, which affected hundreds of customers, and the world's richest man, Elon Musk. At the beginning of January, each and every token was worth less than a penny. However, at the end of the same month, when GameStop and DogeCoin hit their stride, the price of DogeCoin increased to 7.5 cents, which was very nice with a 10x magnify, before dropping to 2.5 cents. The currency in recent months, ranging from three to seven cents. However, the question is can Dogecoin keep track of how it all started?

What is Robinhood app?

Robinhood app is a preferred platform for the purchase and sale of coins, and in the publication of A-1, and in public, have shown that during the first three months of 2021. "With 34 per cent of the time. Our revenue from cryptocurrency transactions made in connection with a Dogecoin transaction." At the same time, the income from cryptocurrency transactions has been increased, from 4 per cent in the last three months of 2020 to 12 per cent of its total revenue for the first quarter of 2021, according to The Verge.

Can DogeCoin survive?

Elon Musk has talked about how this cryptocurrency is the future. In an interview, he said that "There's a good chance that the crypto is in the long-term foreign currency in the world." He further added that there are multiple cryptocurrencies that will be the future. He explains the origins of how Dogecoin was created as a joke, to make fun of cryptocurrency. "Foreign funds, which started out as a joke turns into a real currency", he said.

Elon Musk is a big fan of crypto coins. He helped lead the crypto market, with his tweets about Bitcoin and Dogecoin. The two coins were the rising trend for the first half of 2021. These cryptocurrencies gave enormous benefits to multiple dips.