Briefly
- The crypto market is flourishing.
- This includes the largest meme coin, Doge, which has risen 121% in 24 hours.
- The currency attracted a lot of attention in 2020.
The cryptocurrency market has grown stronger than ever in 2021: the price of Bitcoin is rising record after record, interest in Ethereum is through the roof and the DeFi industry keep growing.
And altcoins also show no sign of slowing down – namely the OG “meme coin”, Dogecoin (DOGE). The price of DOGE at the time of writing was $ 0.011, an increase of 121% within 24 hours, according to CoinGecko data.
The coin, which was created as a joke but now has a market capitalization of $ 1.3 billion, which increased in value in 2020 with other altcoins. This time last year, before crypto-mania gripped the world, the coin was only worth $ 0.00204887.
The price is now rising by 441%.
Why the coin is so much, one might guess. But the coin has been in the spotlight for the past year: Elon Musk said it was his favorite cryptocurrency (send the price up) and a viral TikTok Video also people encouraged to invest.
And the coin does have some uses – albeit criminal. Last year, hackers started using the cryptocurrency to control malware from Monero mining.
DOGE was created in 2013 by developers Jackson Palmer and Billy Markus to have fun with Bitcoin.
But the currency has since become popular – much to the surprise of the creators – and is now available on major exchanges. It sits comfortably in the top 30 cryptocurrencies in terms of market capitalization.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.