What is Dogecoin, and Why Are People Buying It?

What is Dogecoin, and Why Are People Buying It?

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Now that you’ve gotten a handle on the GameStop stock madness, it’s time to learn about Dogecoin. Why is the retail investor hivemind pumping up the obscure cryptocurrency with a Shiba dog for a mascot? Why, for the Lolz. With the help of Reddit and Elon Musk, Dogecoin has increased in value by 600% in the last 24 hours. As a trading move, it makes way less sense than the GameStop frenzy—but that’s also kind of the point. Here’s a look at what’s going on.

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