Dogecoin: How the joke cryptocurrency became no laughing matter

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It started as a joke. Dogecoin was created by a couple of engineers in 2013 as a parody of bitcoin and a way to immortalize a doggone cute Shiba Inu through internet memes, that joke caught on like wildfire with reddit users, propelling its total value to 8 million u.s dollars within months doge. As it’s, known has become a go-to for tipping online used to reward people around the world for good deeds or an interesting idea, and the price of dogecoin has soared during the pandemic, driven even higher by scores of young traders embracing mean culture.

Many factors behind a hot stock market have found their way into digital assets too. If you had invested one hundred dollars in dogecoin a year ago, it would be worth about thirty thousand dollars. Today.

Doge really represents everything that I love about. The cryptocurrency world cryptocurrency enthusiast Jenna pilgrim first bought into doge in 2018. It is anti-establishment it’s, unorganized the narratives aren’t clear.

It has no real backing to it. Furthermore, it has an infinite supply, and it doesn’t pretend to be anything that it’s. Not the total value of dogecoin is more than 77 billion dollars, U.S. that’s more than the total stock market.

Value of some massive names, including Lyft, h, r block and even Harley-Davidson. It’s skyrocketing price puts it at the number four spot. Among cryptocurrencies, only behind bitcoin, Ethereum and finance coin, it’s really hard to assign what a fair valuation is for any of these things, and we’ve, seen i think in recent times, retail investors take a hold and get behind various Assets that we’re not used to in the traditional markets, you saw this play out a couple of months ago with gamestop, jokes and fun and comedy are a really good way to learn new concepts.

If doge is a way for people to get educated about what money means and what money truly is, then I think it’s. It’s, a net positive in a year when memes and trending topics on social media influence. The price of stocks such as GameStop dogecoin has got in on the action too.

On April 20th, known as 420, a special day for pot aficionados, hashtag dogeday was trending and pushed up the price of dogecoin Dallas Mavericks owner Mark Cuban and Elon Musk joined the fray this week.

The anticipation ahead of Elon Musk’s hosting of Saturday night live, has lifted doge to new heights. Elon Musk in particular, likes to challenge the conventional way that people look at things, and he’s done that with money, and so it may not seem to make any sense to the mainstream.

But I think the people in those communities are taking it seriously and enjoying interacting with it, and you know where Elon Musk sits in that you know. Spectrum of he thinks it’s, actually real versus.

He thinks it’s a joke. I’m, not sure. Is it a bubble? Yes, I would never suggest that anyone invest their life. Savings in doge never invest anything that you are not prepared to lose Ann Gaviola, global news, Toronto,

Source : Youtube