Dogecoin: A joke that's rallied 1300%

'Doge' is a meme showing a Shiba Inu breed dog and broken language. Dogecoin was made as a 'memecoin' cryptocurrency in 2013; literally as a joke.
Source: dogecoin.com
The cryptocurrency started the year close to $0.0047, which is around 34 paisa.
Data Source: Coindesk
But as of Feb 9, it is trading near $0.08. That's just below ₹6, making it a rally of 1,339% YTD
Data Source: Coindesk
It's even exceeded Bitcoin, which has just rallied 56.55% YTD
The rally has been fueled by Elon Musk, who has been tweeting about Dogecoin since the start of Feb
And by subreddit r/wallstreetbets on Reddit, where the fire to rally Dogecoin to $1 began
Snoop Doge
Rapper Snoop Dogg tweeted this image and tagged Musk, which gathered media attention
In India, crypto exchanges like CoinCDX and WazirX are providing quotes for Dogecoin in rupees
Check out our website for more such explainers, and factchecks by clicking here