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. Despite this unusual origin story, it has exploded in popularity in 2021—as of writing, Dogecoin has become the fifth largest cryptocurrency by market cap.
Rodeck, D. & Curry, B. (2021, April 20). An Introduction to Dogecoin, The Meme Cryptocurrency. Forbes.
Frakenfield, J. (2020, December 21). Dogecoin (DOGE). Investopedia.
"The Tesla and SpaceX billionaire has sent Dogecoin and Bitcoin on a roller coaster this month—and exposed weaknesses in the cryptocurrency market along the way."
"Meanwhile, his periodic tweets mentioning Dogecoin, usually heavier on jokes than substance, send that market into fits of exuberation—though last week he went on Saturday Night Live and called it “a hustle,” so it tanked, until he single-handedly brought it back to life with the greenification tweet."
Barber, G. (2021, May 7). When Musk Tweets About Crypto, It's Eloncoin All the Way Down. Wired.