Have you ever seen a joke being blown out of proportion and become a national headline?
Have you seen a joke make you 10× the money that you currently have??
Presenting to you TheElon Musk child DOGECOIN !!!

The Birth of Dogecoin:
Dogecoin started as a literal joke by two techies in 2013, has rallied as high as 1400% to date. Dogecoin has gone from half of a cent to 8 cents recently and the internet cannot keep calm. Everyone's like "we're gonna take Dogecoin to 1$, which I think is a little extreme but "it's the internet" here people make many things viral and strech the same to an extreme level. And then we forget about it. Only time will tell if dogecoin will make it to the moon or crash to dust, but now it is important that we talk about dogecoin.
After Bitcoins success many different different coins started crowding the Market like Ethereum, Ripple, Cardano, Binance etc and each of them claiming to have different features rather somewhat superior features to Bitcoin. Any coin which is not Bitcoin is termed as 'Alt coin'. Hence dogecoin is aslo an alt coin,
but the creators of dogecoin never thought that they were making something that is better than Bitcoin neither they thought that this could make them very very rich.
The creators liked the 'Doge Meme' so much that they thought let's give it a shot in cryptomarket and make this meme viral and immortal.
The name of those two techies is 
Jackson Palmer
Billy Markus
After seeing the rise of Bitcoin in 2012 Billy Markus thought that he should create his own Cryptocurrency 'just for fun' and he wanted to base it on a videogame called 'Animal cross' and he named this Cryptocurrency as 'Bells' 
When bells was released people absolutely hated this Crypto. Around the same time another developer called Jackson Palmer  shared an idea to create a coin related to this meme. "The Shiba Inu Doge Meme"
This meme went crazily viral in 2010-2011 , Markus heard this idea and he LOVED it. He actually called it "the greatest idea ever" which it is and he reconfigured the code for bells to the Doge theme, then he just added the dogs photo made it a little polished and released it.
AND THUS THE DOGECOIN WAS BORN 

Use of Dogecoin:
When these techies started dogecoin they never thought that people would take the crypto seriously.
It was always supposed to be the fun stupid currency in the middle of this serious industry. So it was always used for fun and for good causes. Dogecoin was firstly started to be used as tipping currency on Reditt and on many other websites dogecoin started getting for microtipping, that's why the internet just loved it from the start. Slowly dogecoin became highly popular on reditt, apparently at some point dogecoin overtook Bitcoin on reddit to become the 'number 1' tipping currency. 
Now since the intent of this Cryptocurrency was never to make money. People started utilising it for good causes.  
Examples:
• In 2014 India's winter Olympians were in need of funds, so many people gathered about 4.2 million dogecoin and donated them, which is equal to about 7000$ 
• When Jamaican bobsled team needed money they recieved about  28 Million dogecoin in a fundraiser, the worth was close to 30,000$
So the point being that dogecoin has really cool vibe and its very joyful that's why people love it.
One of the key difining point about Bitcoin is that it is finite in number only 21 million Bitcoin exist . Hence each Bitcoin will be worth more and more as the number maxes out. But on the other hand there's no such scenario with dogecoin, it can be created and under the Cryptocurrencies original design while mining and solving the complex mathematical equations you can receive upto one or millions of dogecoin.
However in 2015  Markus walked out of dogecoin, Palmer kept repeating that he just wanted this to be a fun thing and not a serious money making exercise.
As we talk dogecoin's Market cap has reached about
$9 billion dollars.

Sudden spike in Dogecoin:

 People started purchasing dogecoin recently in huge quantities and all of a sudden it came into attention, also Elon Musk the Founder of SpaceX and Tesla started tweeting about the Dogecoin. Many big international celebrities also started tweeting about the same. People just started to put in money to experiment what will happen which is fine, but the problem is when people start putting in a lot of money which they cannot afford to lose.
When dogecoin was rallying many people put in their money, everyone started talking about it and more and more people started buying dogecoin and Boom dogecoin made a high of about 0.70 cents.
But however meme investment is like a double edged sword, just like any other joke or meme attention on that asset is very concentrated for a specific amount of time. It goes viral and reaches out to a lot of people who have no actual information about what the underlying asset is and people can actually act on that information without actually having the entire knowledge about it, lot of new people get to know about this investment ecosystem. Some of the people take the effort to learn more and hence get more financially literate in that process.
As the current scenario more and more of this stuff will keep on happening and you will be tempted to put in your money because you keep hearing amazing things stories about how 'one guy made millions of dollars' on one stock etc . This happens because good things spread on the internet like wildfire, but what you don't hear is about the guy who lost millions of dollars in Crypto.

So I you want to invest then go ahead, but before investing in anything take out some time and read about the asset, learn about the technical and fundamentals of the asset and then invest.