Its co-creators pronounce it “dohj”-coin, but traders and admirers like to call it simply “dog”-coin or “doggie”-coin. By whatever name, it is in the top four cryptocurrencies after only a few weeks of existence.

One dogecoin’s value is tiny in the real world — about .00143792 per one U.S. dollar. That makes it easy to donate or use as a tipping or gifting virtual currency.

Dogecoiners can take to Reddit and take up a contribution totaling thousands of U.S. dollars in dogecoins in a matter of hours. They did just that recently by raising the equivalent of $30,000 to send the Jamaican bobsled team to the 2014 Winter Olympic Games in Sochi, Russia.

But now dogecoin is becoming a favorite of cryptocurrency GPU miners, who may be turned off by the growing difficulty factor in cultivating the second most popular virtual currency, litecoin.

According to BitInfoCharts.com, dogecoin’s market capitalization is at about $59 million — that’s fourth after bitcoin, litecoin and peercoin.

But the most compelling number is about 117,000. That’s how many transactions in dogecoins BitInfoCharts tracked (as of 6 p.m. EST Saturday) over the last 24 hours. That’s higher than all other cryptos, including bitcoin (55,487 transactions). Of course, one doge coin equals a mere 0.00000176 in bitcoin.

Nonetheless, more exchanges are making dogecoins available for converting into bitcoins or other altcoins.

Converting into bitcoins, and then selling peer-to-peer or on a bitcoin exchange, is the most common way of cashing out dogecoins and other altcoins.

Dogecoin traders have flocked to Cryptsy.com, a South Florida based cryptocurrency exchange, but you have to go elsewhere to convert your cryptocurrencies into official or fiat currencies, such as U.S. dollars. There is also China-based Bter.com for trading dogecoins, and Canada’s Vault of Satoshi, which just announced dogecoin acceptance.

How did the dogecoin craze get started? It all came from a meme that typically consists of a picture of a Shiba Inu dog.

Here is dogecoin co-creator Jackson Palmer‘s description:

“The doge meme takes its name from a reference on an episode of a popular 1990s internet cartoon series called Homestar Runner. The term ‘doge’ was revived, mashed-up with a quirky photo of a pet Shiba Inu dog and then sprinkled with a few ungrammatical phrases written in the much-maligned comic sans font. Last year, it exploded across the internet.”