Meme-Inspired Cryptocurrency Dogecoin Reaches Great Peak

Dogecoin has become the center of attraction for quite some time now. The currency which came to the limelight through memes is now seeing more remarkable improvement in its price. Remarkably, Dogecoin is overtaking Bitcoin in its popularity on social media and among crypto enthusiasts. The digital currency's price has surged to an all-time high of US$0.4, recently pumping up enthusiasm. But like other digital currencies, the value of Dogecoin is volatile.

The digital currency hit a record high value last week. Since then, it is trading in the fourth position. Unlike many cryptocurrencies, Dogecoin functions on blockchain technology, making it the most secure digital currency. It is stated that Dogecoin will create 100 billion supply and 5 billion new coins every year.

As of today, its price is at US$0.435 falling around 45 percent from its recent high. Dogecoin has become the center of attraction for cryptocurrency investors. To this day, it has cult status on most of the online business investment sites. Since the beginning of this year, Dogecoin's price has gone up by around 5000 percent. Also, Elon Musk has called it the 'People's crypto.'