Dogecoin is a parody cryptocurrency that was launched in 2013 to make fun of the way people bought cryptocurrencies they didn’t fully understand. It was based on a popular meme of a Shiba Inu dog that spoke in broken English.
Its light-hearted approach attracted a broad community of fans. Tweets from Elon Musk and other celebrities have helped increase the price.
What’s worrying is that Dogecoin has never had a purpose. It may be fun and make people laugh, but its market cap is bigger than several multinational companies. As such, you’d want it to have an active team and a business plan.
Business plan or not, as a result of the huge price rise, Doge has given birth to a whole litter of pet coins, including Shiba Inu.
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