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DogeCoin just hit 25 cents: Why that has the internet excited – CNET

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DogeCoin, initially designed to parody cryptocurrencies, reached a milestone this Thursday when the price soared to over 25 cents, the first time the cryptocurrency exceeded 25 cents in value. The market cap of DogeCoin — which started as a joke and is literally classified as “a memecoin” — is currently just over $33 billion.

It’s the culmination of a semi-ironic movement that’s involved thousands of buyers, tens of thousands of online posters and the world’s richest man, Elon Musk. Just like the Wall Street Bets Reddit community rallied around pumping the GameStop stock up to $1,000-per-share (it got up to $483, short of the goal but a dramatic spike from the 52-week low of $3.77), cryptocurrency communities became attached to the idea of “sending” DogeCoin to 10 cents. Now it’s soared past that goal and then some.

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