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Cryptocurrency: What is Dogecoin, how do you trade it, and what is the price?

Dogecoin is one of the most wildly known forms of cryptocurrency available, and is known as the “meme” coin.

In September, Dogecoin dropped below $.20, and is slowly beginning to recover.

So what is Dogecoin and its price?

Dogecoin was created in 2013 and has an image of a Shiba Inu on its coins- not to be mixed up with the Shiba Inu cryptocurrency.

Finger Lakes Partners (Billboard)

The image first became popular when the dog was in a meme people referred to as “doge” and two software engineers made the coin as a joke. The cryptocurrency was created to be a fun form of currency but has since garnered a lot of serious attention from investors.

Two weeks after its launch its price jumped 300%. China banned banks from investing in crypto. It’s peak was in 2017, but it started to fall in 2018.

It’s highest value to date was in May at $.70.

Celebrities getting into crypto has helped its price to go up. Unfortunately, the value plummeted after Elon Musk mentioned Dogecoin on Saturday Night Live.

The lowest point was also in May at $.25. In the summer it rose again when a well-known platform started trading it. Now eToro can be used.

Earlier in the year though, users were locked out of their accounts because the crypto market crashed. They were unable to sell bitcoin or Ethereum because there were some technical difficulties.

In January Dogecoin jumped from $.0007 by 972% and Reddit says it may reach $1 per coin. That goal was to get the currency to surge the same way GameStop shares did after the discussions on Reddit.

Related: Six things to know about the Shiba Inu coin cryptocurrency

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