Reddit frenzy pumps up Dogecoin, a cryptocurrency started as a joke

Dogecoin, a digital coin originally founded as a joke, skyrocketed Thursday after a Reddit board talked about making it the cryptocurrency equivalent of GameStop.

The price of dogecoin stood at $0.057410 at 10 a.m. ET Friday, according to Coingecko, up around 150% on the day. It had eased from $0.070755 late Thursday when it had seen a surge of 800% in just 24 hours. The virtual currency had earlier hit an intraday high of $0.072330.

Dogecoin was created in 2013 based on the popular “doge” meme at the time which involved a Shiba Inu dog. The logo of dogecoin is a Shiba Inu. It was initially started as a joke but has since found a community.

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Source: CNBC