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When we think about cryptocurrencies, two things come to mind: Bitcoin and Ethereum. Although there are literally thousands of cryptocurrencies, only these two types are ever worth talking about.
But all of that changed when the CEO of Tesla, Elon Musk, sent out a three-word tweet about the meme-inspired cryptocurrency, Dogecoin. And just like that, the value of this ridiculously-sounding yet legitimate form of digital currency went up in value by an astounding 20%.
What is Dogecoin?
Dogecoin, code DOGE and symbol Ð, started off as a parody for cryptocurrency by programmer Billy Markus. It started off as a joke, but after several mentions on Twitter, it actually began gaining traction in the digital investment sphere. In December 2013, the value of Dogecoin rose 300% in only 72 hours, with billions of coins available per day.
It didn’t take long for fans to establish a Dogecoin community. They even put their efforts to good use by raising money for a Jamaican bobsled team in 2014, building wells in Kenya, and even sponsoring NASCAR driver Josh Wise.
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