Rise of Dogecoin?

Investors are looking for the potential of 1000% in cryptocurrency investing. If the return is a 20% gain, it sounds lame. The recent price spike of Dogecoin fits the appetite of investors or gamblers. In 1 month, the coin has gained about 800% and roughly 9,000% increase in under four months. Some say there are practical usages for the coin, some say it is the euphoria pushing up the price with no backing of fundamentals.

Dogecoin now has a market cap of roughly $50B, surpassing some other coins such as Cardano(ADA). To get a sense of this, the market cap is now bigger than companies like…