In just seven weeks, dogecoin – the crypto-currency created from an internet meme based on a dog’s inner thoughts – has become an established player in the world of virtual currencies, becoming the fifth most valuable in the world. Still some way behind bitcoin’s market capitalisation of over $10 billion, dogecoin has become the fifth most valuable of more than 80 cryptocurrencies listed by website Coinmarketcap.com with a total value of $61.6 million.
People who love Dogecoin really love Dogecoin. It’s to the point where aficionados of the meme-themed cryptocurrency will hand out dogecoins to pretty much anyone on the off chance that person will respond, ‟Such money. So currency. Wow.” That generosity has led to the seven-week-old Dogecoin becoming, far and away, the most widely traded virtual currency in the world. It may be pretty easy to pick up some Dogecoin, but, until now, it’s been difficult to convert it into cash. On Wednesday, Canadian electronic currency exchange Vault of Satoshi announced that it will now support Dogecoin, making it far easier to convert the currency into U.S dollars.