Dogecoin, the Cryptocurrency That Started as a Joke, Is Spiking – The New York Times

Dogecoin, the Cryptocurrency That Started as a Joke, Is Spiking – The New York Times

Dogecoin, the Cryptocurrency That Started as a Joke, Is Spiking

Amid the so-called meme stock frenzy, it is perhaps fitting that a cryptocurrency based on a meme has been swept up in the mania.

Dogecoin, a digital currency created as a joke, is now the world’s 10th largest cryptocurrency, according to CoinMarketCap. Its price is up by more than 1,600 percent so far this year, pushed in recent days by celebrity cheerleading from the likes of Tesla’s Elon Musk, the rapper Snoop Dogg and the rocker Gene Simmons of Kiss, who all promoted Dogecoin on social media.

Year-to-date 2021 performance of Dogecoin price