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Cryptocurrencies

“Dogecoin spikes 300% in a week, stoking fears of a cryptocurrency bubble”

Dogecoin started out as a joke. Now it’s a top-10 digital currency worth $34 billion. The cryptocurrency is based on the “Doge” meme, which rose to popularity in late 2013. The meme portrays a Shiba Inu dog alongside nonsensical phrases in multicolored, Comic Sans-font text.

Created in 2013 by software engineers Billy Markus and Jackson Palmer, dogecoin was intended to be used as a faster but “fun” alternative to bitcoin. It has since found a growing community online. And now, defying all odds, dogecoin has a total market value of $34 billion, according to crypto market data site CoinGecko, adding about $19.9 billion in the last 24 hours. The digital token reached an all-time high above 28 cents Friday morning, more than doubling in price from a day ago…”

https://www.cnbc.com/2021/04/16/dogecoin-doge-price-meme-cryptocurrencys-rise-sparks-bubble-fears.html

All these cryptocurrencies are gaining in popularity partly because people are hedging their bets against the dollar. It’s just one more way to protect your assets if there is a market crash or a collapse of the dollar.

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