A Little Crypto Called Dogecoin

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A Little Crypto Called Dogecoin

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Similar to my GameStop stories on here, I will try to narrate the DogeCoin experience as it goes on during the pandemic.
DogeCoin, a crypto currency modeled after the popular internet meme involving a shiba inu dog in a funny pose, has been soaring the past week or so. Doge first entered my radar probably four-five years ago, when the original meme was popular. Supporters of the coin, which was not very valuable, used it to donate clean water to a village in Africa, as well as paying to sponsor a Nascar team with it for a short time. It largely fell off the radar, but somehow during the early part of this year it returned. Spurred on by meme-stock movements like GameStop, Doge rallied and returned to being worth around 4-5 cents per Doge, much higher than previously. It dipped initially after reaching 8 cents and the people with tens of millions of it selling for a hefty profit. Now, it is to above 12 cents, far more than it has ever been worth. Dogecoin is accepted by more and more websites every day, and famous personalities like Elon Musk and Snoop Dog have rallied behind it. Supporters have even taken out ads in New York's Times Square to promote the currency.
While I have long had doubts about crypto currency, I didn't want to miss out on this like I did Bitcoin. I knew about Bitcoin when it was worth less than a dollar, and now it is worth over $60,000 per coin. Doge will never reach that level, but even my meager amount has nearly doubled in the past week.
The wave of amateur investors spurred on by the pandemic has produced odd results, and perhaps the weirdest one is the coin based on a stale internet meme.

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This item was submitted on April 15, 2021 by Adam Peretz using the form “Share Your Story” on the site “A Journal of the Plague Year”:

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