DogeCoin hit 60 cents: What’s behind the latest surge – CNET [CNET]

Additionally, trading platforms eToro and Gemini listed the memecoin, drastically expanding its reach. eToro alone has 20 million users, who can now easily buy DogeCoin through its platform. The spike in DogeCoin trading seems to have caused issues for the Robinhood investing app, which said it was experiencing issues with cryptocurrency trading, likely due to the demand. 

If you’re familiar with cryptocurrency, you know Bitcoin and maybe Ethereum. Those are the two biggest cryptocurrencies, but underneath them is an entire market of smaller ones called “altcoins” — or, sometimes, “shitcoins.” These are like the penny stocks of the cryptocurrency world. Many aim or claim to have utility, or improve facets of the Ethereum blockchain, upon which most altcoins are built. Others are “memecoins,” which rise and fall in popularity simply because they’re kind of funny. 

Created in 2013, DogeCoin was the first such memecoin. There are many others, and they’re preposterous. One simply called Meme launched in August at $1 and now trades at over $2,000.