With three easy phrases, Elon Musk lit a fuse within the crypto neighborhood that would finally result in a Dogecoin-themed music competition: “Sounds kinda enjoyable.”
The remark got here in response to a well-liked Dogecoin fan account who tweeted in regards to the fictitious DogeFest, utilizing a photograph of a music competition stage edited with the token’s viral Shiba Inu meme imagery. He then began a thread to recommend what the competition would entail if it had been actual, reminiscent of a DJ set from Musk himself, who has lengthy championed EDM and lately teased the sale of an NFT techno music. The web page additionally instructed that DogeFest would require Dogecoin “as cost for every thing.”
As soon as Musk chimed in, legions of crypto supporters joined the dialog to conceptualize the fest. One mentioned that tickets must be allotted as NFTs (non-fungible tokens), whereas one other mentioned that Baha Males—the group behind the long-lasting “Who Let The Canine Out”—ought to headline.
It seems, nevertheless, that planning for an unrelated Dogecoin-themed competition was already underway previous to the viral DogeFest second.
An occasion known as Dogepalooza has been within the works since as early as Could 2021, when organizers filed a trademark for the title, as first reported by Benzinga. The submitting notes that the occasion would cowl the classes of “conducting leisure exhibitions within the nature of music festivals” and “arranging and conducting festivals that includes musical teams and rock music.”
Dogepalooza, which representatives known as “a enjoyable approach to deliver the Doge Neighborhood collectively to share their ardour and love for Dogecoin” on the occasion’s website, is at the moment being deliberate for fall 2021. No concrete location or dates have been introduced on the time of this text’s publication.
In the meantime, Dogecoin surged at present on the heels of the information that the token could be listed on Coinbase’s Professional platform. As of this morning it was buying and selling at 42 cents, giving it a $54 billion market cap and making it the sixth-largest cryptocurrency by market worth, in keeping with Coinbase. Buying and selling is anticipated to launch tomorrow, June third.
Musk, an early adopter of Dogecoin, took to Twitter to rejoice the information. Earlier within the day, the hashtag #DogeCoinToADollar trended on the platform.