Dogecoin is a cryptocurrency created in 2013 as a bifurcation of the Litecoin blockchain. Its task is to conduct peer—to-peer transactions without centralized management. Earnings on the coin were not expected. The developers thought it would be a humorous parody to encourage content creators.

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Strive Asset Management, associated with Vivek Ramaswamy and linked to former Musk partner in the Government Efficiency Department (DOGE), has increased its Bitcoin holdings by 73 BTC.