In short
- The crypto market is growing.
- That includes the biggest meme currency, Doge, which rises 121% in 24 hours.
- The currency attracted a lot of attention in 2020.
The cryptocurrency market has reached 2021 stronger than ever: Bitcoin price is fixing record after record, interest in Ethereum is through the roof and the DeFi industry continues to grow.
And altcoins also show no sign of slowing – that is, the “meme currency” OG, Dogecoin (DOGE). The DOGE price was $ 0.011 at the time of writing, a 121% increase in 24 hours, according to CoinGecko Dice.
The currency, which was created as a joke but it now has a market value of $ 1.3 billion, valued in 2020 with other altcoins. This time last year, before crypto-mania took over the world, the currency was only worth $ 0.00204887.
Its price increased by 441%.
Why the currency is so high is unknown. But the currency was very much in the spotlight last year: Elon Musk said it was his favorite cryptocurrency (sending the price up) and a viral TikTok Video Besides that encouraged people to invest.
And the currency has some uses – albeit criminal. Last year, hackers started using cryptocurrency to control Monero-mining malware.
DOGE was created by developers Jackson Palmer and Billy Markus in 2013 to mock Bitcoin.
But the currency has since become popular – to the surprise of its creators – and is now available on major exchanges. It is comfortably ranked among the top 30 cryptocurrencies in terms of market capitalization.
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