Is today’s soaring Dogecoin price an attractive bargain or a dangerous bubble?

The Dogecoin (CRYPTO: DOGE) price is up 21% over the past 24 hours, currently trading for 33.3 US cents (42.7 Aussie cents).

The Bitcoin (CRYPTO: BTC) price is heading the other way over the past full day, down 1.1% to US$54,227 (AU$69,522).

At the current price, Dogecoin — a digital token represented by a smiling Shiba Inu — claims the 7th largest market cap of any cryptocurrency, at US$41.4 billion. That’s up from 8th place just a few weeks ago when Dogecoin was trading for 23.8 US cents. Even then, on 16 April, Dogecoin had already clocked a mind-boggling 4,996% gain in 2021.

At today’s price, the…