Dogecoin has emerged as one of the top performers in the post-election crypto market rally. But can the memecoin demonstrate utility beyond the hype?

Dogecoin’s rebound – after several years of devaluation and disrepute – reveals the extent to which community, attention and hype undergird the investment.

Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are trading around 3% higher in a single day boosted by the optimism in the cryptocurrency market. Cryptocurrency Price              Market Cap 24-Hour Trend 7-Day Trend Dogecoin  $0.

Like other meme coin projects out there, Dogecoin is an inflationary token without a supply cap. This means that in theory, an unlimited number of Dogecoin can be minted, though the project does burn tokens from time to time in a bid to keep the increase in supply at around 5 billion coins per year.

Dogecoin (CRYPTO:DOGE) is one top cryptocurrency that’s been absolutely skyrocketing this month. For investors who aren’t aware, this crypto project was created by its founders as a joke, using memes to create a community and reward its users for participating over time.