What Is Dogecoin Cryptocurrency?
Dogecoin is much like Bitcoin, is a digital coin used for e-transactions. Dogecoin was found as a joke in 2013. Doge is a reference to the ‘doge’ meme and has a picture of the shiba inu on it. It is a cryptocurrency, a form of digital money that, much like bitcoin, enables peer-to-peer transactions across a decentralized network.
Dogecoin is the new Bitcoin. Maybe, it’s too early to say that but in the next few months Dogecoin may emerge as the cryptocurrency of 2021. It’s already on path, witnessing a massive surge since the start of the year.
Dogecoin has given nearly 1900% returns since January 2021. Yes, you read that right. There was a time when one coin was worth less than a cent, but the recent surge has taken its value to $0.122680 or almost 12 cents.
That’s incredible for a digital currency started as a joke. We will get to that bit in a while.
Dogecoin founded by two software engineers Billy Markus and Jackson Palmer as fun and instant cryptocurrency in December 2013. If you have been using the internet, there is a chance that you might have come across or heard about the Doge meme. It featured the iconic Shibe.
Palmer, an Australian marketer, once joked about combining two of the internet’s most talked-about topics: cryptocurrency and Doge. Investing in Dogecoin,” Palmer tweeted, “pretty sure it’s the next big thing.”
The tweet was noticed by a lot of people on the internet who started talking about Dogecoin. Palmer kept the joke going by buying Dogecoin.com domain and uploaded a photoshopped Shibe on a coin.
Billy Markus, who was literally on the other side of the world, working as a software engineer at IBM, saw a note left by Palmer on the mentioned domain. He tried to get in touch with the latter but started working on Dogecoin after failing to hear from him.
Markus has admitted to using Bitcoin’s open-source code for creating Dogecoin. He changed few elements and made 100 billion Dogecoins against 21 million Bitcoins.
Reddit makes it more famous
Even when Markus and Palmer had the Dogecoin ready, they were not taking it seriously, or had any plans of promoting the currency.
Steps in, Reddit. Yes, the same platform you came across while during the GameStop saga.
The Dogecoin subreddit exploded almost immediately, giving them the eyeballs and resources needed to make a crypto successful.
Dogecoin and Elon Musk
Yesterday, Elon Musk tweeted about dogecoin. Have a look,
because of this Dogecoin reaches to $0.29 almost $0.30 today. This is the all time high for the cryptocurrency, and the result of a semi-ironic movement that’s involved thousands of buyers, tens of thousands of online posters and the world’s richest man, Elon Musk.
Will Dogecoin Reach $1?
Yes It Can be, because of Elon Musk tweet about Dogecoin cryptocurrency, Dogecoin gets lots of attention and now people are buying it. So there is a strong possibility that it can be reach $1 by end of the year.
Is Dogecoin Worth It?
Dogecoin is cryptocurrency. It is very risky and there is much fluctuation in Dogecoin. But you can start buying with less quantity, If is there any problem happens or all money goes then it will not affects you.
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