Changpeng Zhao: “Meme coin DOGE really surprised me. It has super long-term strength”

The CEO of Binance, Changpeng Zhao, commented on the position of the Doge crypto coin. He stated that the popular meme coin has a “high lifespan”, and Elon Musk has made a significant contribution to this.

Zhao also noted that DOGE is associated with high risk, and the entrepreneur did not expect the token to last so long, since most of similar assets quickly “collapse”.

“One memecoin that really surprised me was actually dogecoin. It has had a super long-lasting power. I thought it would have disappeared a long time ago. But Elon Musk latched onto it and extended its life maybe, ”said the CEO of Binance.

Dogecoin was created in 2013 as a Shiba Inu meme. The coin was a joke alternative to the main cryptocurrency.

But from just a joke, DOGE has become a popular asset. It is currently in the top 10 most popular cryptocurrencies. The market capitalization of Dogecoin exceeds $10 billion.

The popularity of the meme crypto coin was influenced by the support of celebrities, in particular, Elon Musk. He originally posted on social media about DOGE in 2019, noting that the token could become his favorite digital currency. Since that time, Musk has repeatedly written about Dogecoin, calling it “the people’s cryptocurrency”, which contributed to the growth of the asset’s price.

This week, the volume of transactions on the Dogecoin blockchain reached ATH at 628,209, ahead of BTC and LTC.

Members of the crypto community believe that such dynamics may be associated with activity around the DRC-20 standard tokens, with which you can create new tokens on top of the blockchain.