The ironic cryptocurrency Dogecoin has taken on a new layer of seriousness today.
What Happened: Dogecoin as of time of publication was trading at 0.011 cents, according to TradingView. That's more than a 125% increase for the day and a break past the psychologically significant one-cent mark.
Riding The Crypto Rocket: The rise is in line with the skyrocketing price of Bitcoin, which today flew past the $33,000 level, the latest in a series of recent high points.
Dogecoin has traditionally been viewed as a parody of the cryptocurrency world. But it nonetheless is a real cryptocurrency and therefore just as capable of delivering returns as Bitcoin.
Dogecoin also recently got a boost after Tesla CEO Elon Musk mentioned it on Twitter, albeit in a non-flattering light.
Photo by Dogeloverforever on Wikimedia.