Meek Mill is officially a part of the Dogecoin stock wave.

On Tuesday (May 4), the Philadelphia rapper shared via his Instagram Story that he has purchased $50,000 worth of Dogecoin, a cryptocurrency that has recently skyrocketed in value. When Meek cashed in on his cryptocurrency, Doge had a value of $0.541058. This means he had $92,411 in Dogecoin at the time of his purchase.

Meek Mill captioned his IG Story post: "I just grabbed some doge birds too much money moving for me lol," followed by several praying hand emojis.

meek mill dogecoin instagram story post
meekmill via Instagram

He also tweeted yesterday afternoon, "I just grabbed some doge I’m tired of missing out."

Meek appears to have first shared his interest in stocks and cryptocurrency back in January, tweeting, "I need everybody that rock wit me to learn about stocks and crypto currency!!!!!! ASAP!!!!!!"

According to a report from Market Watch this week, Dogecoin, the meme cryptocurrency that is associated with an Shiba Inu dog and gained popularity from Tesla founder Elon Musk's cosign, has increased more than 14,000 percent in 2021. Thus, the cryptocurrency is now one of the top 10 digital assets. Nasdaq even named Dogecoin one of the cryptocurrencies to watch back in March.

Stocks and cryptocurrency have been a hot topic in hip-hop lately.

In January of this year, Ja Rule called out Robinhood, a stock trading app, after the app began to put forth stipulations that prohibited users from purchasing certain stocks. This all stemmed from Reddit users buying Gamestop stocks, which caused the stock to increase drastically. The video game retailer had announced numerous store closures last year.

Ja's qualm with Robinhood's decision was the app attempting to prevent people from buying or trading the stock, which had become extremely valuable, prohibiting investors or stock purchasers from making a ton of money.

Stocks and cryptocurrency are pretty much a big deal. Don't sleep.

See 10 Rappers’ Purchases That Broke the Bank

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