Why Dogecoin is the meme stock of the cryptocurrency universe
Charlie Wells and Katharine Gemmell, Bloomberg News
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Ever heard the one about the joke thatâs worth US$50 billion?
In 2013, two friends created Dogecoin â a parody of a cryptocurrency that was meant to be worthless. Its mascot is a meme-worthy Shiba-Inu that canât quite spell or get its grammar right.
It definitely did not stay worthless. Dogecoinâs value has rocketed up 18,000 per cent over the past year. Even as Bitcoin dipped dramatically over the weekend, Dogecoin was trading near all-time highs. As the Shiba-Inu would say: âWow. Much inexplicable.â