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April 21, 2021 Considering how it was created as a joke, Dogecoin is particularly captivating for the crypto universe, at least for the time being. The previously obscure cryptocurrency isn’t going to be usurping Bitcoin anytime soon, but there’s considerable momentum at play here. Dogecoin is based on a wildly popular meme from 2013 that featured a dog with Comic-sans font phrases, often without discernible meaning. According to CNBC, it was meant to be a fun “alternative to Bitcoin [that]has since found a growing community online.” As is common with cryptocurrencies, Dogecoin is subject to volatile fluctuations in price, but has been gaining in popularity this year. Reddit subgroup r/SatoshiStreetBets helped propel Dogecoin into the limelight as part of a concerted effort to bring more attention to cryptocurrencies. The subreddit proclaims itself to be the “Crypto version of r/WallStreetBets,” which helped influence the rise of GameStop shares early this year.

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