What's going on with Dogecoin?

What do rocket emojis, Shiba Inus, and Elon Musk all have in common?

They all helped launch the internet's joke cryptocurrency, Dogecoin, to a coin with a market value of over 10 billion dollars.

The volatile cryptocurrency, which depicts a Shiba Inu in its branding, has soared to popularity off the back of a wave of viral hype since it was launched.

But what is a Dogecoin, and is it really on its way to becoming the currency of the internet? Anthony Cuthbertson explains.