This article was first published on Silicon Republiccryptocurrency – Silicon Republic
Today is supposed to be a big day for Dogecoin, the tongue-in-cheek cryptocurrency that has become a $53bn digital asset.
Dogecoin is a cryptocurrency created by engineers Billy Markus and Jackson Palmer in 2013, largely as a joke based on the Shiba Inu meme.
While it has enjoyed occasional bumps in prices over the last seven years, one Dogecoin has typically been valued at less than a cent. However, it has now become the subject of the latest investor rally.
On Monday (19 April), Dogecoin became the world’s fourth largest cryptocurrency after a rally over the last week.
It’s currently trading at around $0.38. That figure might not seem like much when compared to the frothy numbers of bitcoin, but consider that Dogecoin was trading at $0.005 at the start of January.
Dogecoin now has a market cap – the value of all coins in circulation – of more than $53bn. To put that in context, Twitter’s current market cap is $54bn.
Today (20 April) proponents of the cryptocurrency are hoping for a surge in price that would see Dogecoin hit $1.
This slotted into a flurry of social media posts emblazoned with Dogecoin’s mascot, promoting the cryptocurrency ahead of today, which has been dubbed Doge Day....
To keep reading, please go to the original article at:
Silicon Republiccryptocurrency – Silicon Republic