Is Dogecoin a cryptocurrency?

Dogecoin is a cryptocurrency, like Bitcoin or Ethereum—although it’s a very different animal than either of these popular coins. Dogecoin was originally created at least in part as a lighthearted joke for crypto enthusiasts, and took its name from a once-popular meme. What Is Dogecoin?

Who created Dogecoin?

Software engineers Billy Marcus and Jackson Palmer created Dogecoin in late 2013. Palmer branded the cryptocurrency’s logo using a meme popular at the time that featured the deliberately misspelled word “doge” to describe a Shiba Inu dog. “Doge was really started to poke fun at Bitcoin,” said Pat White, CEO of Bitwave.

Is Dogecoin up or down?

As of May 7, dogecoin is up more than 26,000% in the last six months, outpacing percentage gains in bitcoin and ether. Dogecoin, the cryptocurrency branded after a viral dog meme from years ago, hit a new all-time high Friday afternoon. It now has a market capitalization of about $92 billion following a six-month climb of more than 26,000 percent.

Is Dogecoin a speculative currency?

Because of its decentralized nature, Dogecoin is generally not subject to central control and manipulation and is difficult to counterfeit. Upside Potential As with many speculative currencies, Dogecoin has historically enjoyed sudden episodes of incredibly high increases in valuation.