- The crypto market is booming.
- That features the largest meme coin, Doge, which is up 121% in 24 hours.
- The coin attracted loads of consideration in 2020.
The cryptocurrency market has boomed into 2021 stronger than ever: the value of Bitcoin is setting record after record, curiosity in Ethereum is through the roof and the DeFi business continues to grow.
And altcoins additionally present no signal of slowing down—particularly the OG “meme coin,” Dogecoin (DOGE). The value of DOGE was $0.011 on the time of writing, a 121% enhance in 24 hours, in line with CoinGecko data.
The coin, which was created as a joke however now has a market cap of $1.3 billion, surged in worth in 2020 with different altcoins. This time final 12 months, earlier than crypto-mania gripped the world, the coin was price simply $0.00204887.
Its worth is now up 441%.
Why the coin is up a lot is anybody’s guess. However the coin has been within the limelight so much up to now 12 months: Elon Musk said it was his favourite cryptocurrency (sending the price up) and a viral TikTok video additionally encouraged people to invest.
And the coin does have some makes use of—albeit prison ones. Final 12 months, hackers started using the cryptocurrency to manage Monero-mining malware.
DOGE was created by builders Jackson Palmer and Billy Markus in 2013 to poke enjoyable at Bitcoin.
However the forex has since change into well-liked—a lot to its creators’ shock—and is now accessible on main exchanges. It comfortably sits within the prime 30 cryptocurrencies when it comes to market cap.
The views and opinions expressed by the creator are for informational functions solely and don’t represent monetary, funding, or different recommendation.