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Dogecoin

Crypto-Canine

Move over Bitcoin! There’s another cryptocurrency on the rise.

Dogecoin nearly doubled in value last weekend and is now worth more than two-billion dollars. Dogecoin’s mascot is the Japanese breed, the Shibu Inu.

Dogecoin
Dogecoin

 

CNBC reports:

Dogecoin is an example of an altcoin, which are peer-to-peer digital tokens that descended from bitcoin. The more popular ones include ethereum, which topped $1,000 for the first time on Thursday, and ripple, which saw a staggering 35,000 percent jump in its value last year… The creators of dogecoin positioned the virtual token as “the internet currency” that can allow users to easily send money online.

I also found stories on the Internet saying that Dogecoin launched in 2013 as a parody of the Bitcoin boom. If that’s true, then I bet its creators are pretty surprised by its success. CNBC continues:

The virtual currency’s meteoric rise in recent months has the project’s creator expressing concern about market excess. Jackson Palmer, the founder of dogecoin who left the team in 2015, told cryptocurrency news site CoinDesk that it was telling that the token saw such a sharp jump in price even when the project hadn’t released a software update in over 2 years.

Whatever is going on, I think people should invest in cryptocurrencies with great caution!  The South Korean government, the third largest market for cryptocurrency, is going to ban trading there. You can read more about that from Reuters.

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Sean Sheer

Sean is a passionate dog lover and the proud owner of Urban Dog’s Official Spokes-Dog, Bodhi the Weimaraner. His family has always owned dogs, but Bodhi is the first he's been fully responsible for since puppyhood… and he couldn't be more doting. As a longtime New Yorker of more than 20 years, Sean knows what a dog's and dog owner's lifestyle is like in NYC. Besides being a doggy dad and top dog at Urban Dog, Sean also has a "real job" experience as co-owner of a Palm Beach, Florida-based private investigative firm, and as a licensed (pet friendly) Real Estate Salesperson with Douglas Elliman in NYC. Sean also exercised his creativity and business sense as an award-winning journalist, producer, TV marketing exec, and private investigator. When not blogging, working, or playing with Bodhi, he is an avid adventure traveler who has circumnavigated the world, bird-watched on all seven continents, safari-ed in Africa, and SCUBA-dived in exotic waters.

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