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.

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.