Dogecoin jumped pretty high in value Wednesday after celebrities tweeted about the meme-based cryptocurrency, CNBC reports.

Recent Dogecoin spike

Dogecoin — a form of cryptocurrency that has been going viral on social media over the last few weeks — jumped 20%, reaching a value of $0.32 per coin, according to CNBC.

  • That’s slightly below the cryptocurrency’s record of $0.45, which it hit earlier in the month.

The Dogecoin cryptocurrency originally started as a joke, using the Shiba Inu dog as a picture. Seriously — this is a meme that is now worth actual money.

  • Dogecoin was valued at $0.0023 in June 2020. So it has spiked significantly in less than one year.

Why did Dogecoin rise in value?

There were two recent tweets that encouraged Dogecoin to spike.

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Robinhood just did something to help Dogecoin. Here’s what happened

Not long after Cuban’s tweet, Robinhood CEO Vlad Tenev said the Robinhood app — where you can buy and trade cryptocurrency — would make it easier for people to withdraw their Dogecoin holdings, as I explained for the Deseret News.

Of course, making money may never have been the point of Dogecoin, per Benzinga.

  • “An investment in Dogecoin is not about making money (although it may happen accidentally) it’s about being a part of something bigger,” according to Benzinga.