Most people know that Dogecoin started off as a joke, with the parody coin named after the internet meme from a few years ago that featured a Shiba Inu Dog, and has gone ballistic ever since.
Dogecoin is now worth $0.01 and while it sounds like nothing, remember that Dogecoin flat lined for years at $0.0001, so the rise to $0.1 is actually significant. Big enough to drive the market cap of Dogecoin to $1.8 billion, which is crazy as this started off as a joke and a lot of people are making serious bank from it.
The founder of Dogecoin, Jackson Palmer, has talked about the recent price rise by saying: "I have a lot of faith in the Dogecoin Core development team to keep the software stable and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn't released a software update in over 2 years has a $1B+ market cap".
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