Dogecoin has managed to increase its price by more than 400 percent despite its origins as a parody coin named after a Shiba Inu Internet meme. At the time of posting, data from CoinMarketCap is showing its market capitalization at $1,726,011,778 USD.



Even Jackson Palmer, one of the founders of the coin, expressed concern about the hyperinflation of dogecoin. “It says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap,” Jackson told Coindesk.

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Source: [H]ardOCP – A Crypto-Currency Based on a Dog Meme Is Now Worth over Billion