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Dogecoin, a fork of litecoin, was originally created as a joke in 2013. Over the past year, dogecoin’s price has surged more than 20,000% and it is now the fourth-largest cryptocurrency by market capitalization, according to CoinGecko. As The Block reported recently, dogecoin is seeing signs of potential institutionalization. That means not only retail traders but even professional and institutional traders are executing dogecoin trades.
One Dogecoin is currently priced at around $0.50 and its market capitalization is about $66 billion, per CoinGecko. “Yes, it’s a meme coin, but all money is a meme,” said Gemini. “And all money is both an idea and a matter of faith or belief in it. Over the multi-milennia history of money, the majority of money (be it shells, beads, precious metals, etc.) has been what we the people say it is and believe it is.”
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