Behind the rise of this crypto currency, it was basically the notion that it was cheap compared to the bitcoin, says Dave Chapman from Octagon Strategy.
One of the founders of the crypto currency, told the media that the rise in the tokens makes him worry to some extent by a over reaction on the market.
The new crypto currency reached the next psychological boundary after it reached for the first time a market capitalization of $1 billion on Christmas. The digital currency is traded at a level of 0.018773 dollars, giving it a market capitalization of 2.12 billion dollars.
This is nearly 69% more than its market capitalization on Friday of last week during the Asian trade.
Just last month, the digital currency appreciated by 400%, momentarily reaching the highest value of 0.0107 at the end of last month.
To date, there are a total of 43 crypto currencies with a market capitalization of over $1 billion. The largest crypto currency is still the bitcoin, with a total of $264 billion.
The Dogecoin was created in 2013 with the idea of allowing Internet users to easily and cheaply transfer funds from user to user.
There are several ways to get this crypto currency. Buying from stock exchanges, mining and even getting it as a tip.
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