08 Jan '18, 1pm

Forget Bitcoin - now Dogecoin goes wild

Forget Bitcoin - now Dogecoin goes wild

Image copyright Chris Graythen/Getty Images Image caption Backers of Dogecoin helped sponsor this stock car You know an investment is somewhat unconventional when the Know Your Meme website is the main source of background information. But even in the turbulent world of cryptocurrencies, Dogecoin is seen as a pretty wild creature. It was launched in 2013, inspired by a short-lived online craze for pictures of a particular Japanese dog breed. Last weekend, however, it nearly doubled in value and is now worth more than $2bn (£1.5bn). Dogecoin had been gaining steadily all through December, but the latest spike has prompted howls of "crypto-hype" from sceptics. Granted, it's still well behind the biggest beast in the digital currency pack, Bitcoin, which has a total value of more than $270bn. But given that Dogecoin was initially intended as a parody of the Bitcoin boom, its ...

Full article: http://www.bbc.co.uk/news/business-42602038

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