Dogecoin: the cryptocurrency that was a meme
By: Ximena Peinado
Of all the encrypted currencies on the internet, one of them stands out as the most user-friendly, socially responsible, and the one with the largest community in the field. Its name is DogeCoin and ironically it was named after the most expensive meme in the world (‘Doge’) featuring a Shiba Inu dog– now the new mascot of the coin.
In reality, the cryptocurrency was born as a kind of joke in 2013, but currently, its value has increased after Elon Musk, the CEO of Tesla and Space X, had mentioned it was his favourite cryptocurrency on Twitter. Additionally, it had a few moments of fame on TikTok in the month of July of that same year. Today, the currency is equivalent to.0033 US dollars; And before all the events that made it stand out this year, it was worth 0.0023.
DogeCoin the friendly cryptocurrency
The idea for the cryptocurrency was conceived by Bily Markus, an American programmer, and Jackson Palmer, an Australian marketer. The goal of both men was to make fun of cryptocurrencies, and 15 days after launching it, its value had multiplied by 300.
Still, it is far from levelling up with Bitcoin. Both are cryptocurrencies, with the difference that Dodgecoins have no limit and new ones can be created, that is, mined.
However, this coin’s reputation is favourable, since it is known for its sense of community and its charitable works. Not only do they teach beginners the process of their currency step by step, but they also have a huge community of people who answer user questions in specialized forums or in online chats hosted by the company.
Dogecoin managed to build a sustainable and friendly community, Their sustainable community earned DogeCoin a capitalization of over $ 1 billion.
Another of the characteristics that make it stand out is its charitable character throughout the years. For example, they raised $ 50,000 for the Jamaica Bobsled team to go to the Sochi Winter Olympics in 2014 and $ 30,000 to build a well in Kenya’s Tana River basin in the same year. Additionally, retired NASCAR driver Josh Wise received $ 55,000 in dogecoins from cryptocurrency investors.
According to the CryptoChart platform, the use of this currency is common in people creating internet content. The cryptocurrency rating site explains that Doge has the advantage of being usable all over the internet. They compare it to a more significant ‘like’ or ‘upvote’.
Its market capitalization is $ 412.24 million and there are 126.08 billion coins in circulation.
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