Earlier this week, there were over digital currencies with a market cap above $1 billion.
Dogecoin crossed the $2 billion barrier a few days ago, a 70 percent increase compared to last Friday and two weeks after it reached the $1 billion level.
Even Jackson Palmer, the founder of dogecoin who left the team in 2015, is worried about this meteoric increase, especially as they have not released a software update in over 2 years.
A key reason why smaller crypto-currencies are rising so fast is because they are perceived as cheaper coins, compared with bitcoin and ethereum, which are too expensive for many new investors.
Dogecoin was created in 2013. The creators of dogecoin positioned the virtual token as “the internet currency” that can allow users to easily send money online.
You can get dogecoins from several digital currency exchanges or mine them.