As cryptocurrency continues to slide, Dogecoin is up 160%

Lately, cryptocurrency’s performance looks like a bad joke: Since peaking in early January, the entire space dropped close to 80%, blowing around $640B since January.

The biggest joke of all? While heavy-hitters like Bitcoin continue to slide, parody “alt-currency” Dogecoin has surged over 160% in the last month.

Not bad for a goof

Introduced to the market in 2013 as a play on the once pup-ular Doge meme, the company at one point reached a market value of more than $1B at the beginning of January, and continues to show promise.

But how does an alt-coin that, as of January, hadn’t updated its software in over 2 years, continue to stay in swing? According to Bloomberg, that’s a tough question to answer.

One of the main theories is that its gain is a result of it having been added to the popular Robinhood app as a currency available for trading in mid-July.

Good for Dogecoin, but the space is still troubled

Crypto death began early this year after the Bitcoin bubble popped,…