What is Dogecoin and some awesome facts about it

3 April, 2021
1.37k read  ·  10 Hearts

Dogecoin is a cryptocurrency made by IBM software engineers Billy Markus and Jackson Palmer. They wanted to create a payment system that is instant, fun, and free from conventional banking fees. 

It was created for a peer-to-peer digital currency that could reach a broader demographic than Bitcoin.

Dogecoin: From Reddit Meme to Elon Musk's Obsession – the Evolution of DOGE  | Finance Magnates

The Dog on Dogecoin is the face of the Shiba Inu dog from the "Dogememe as its logo and namesake. 

The Shiba Inu is a small-to-medium breed of hunting dog from Japan and the smallest of the six original and distinct spitz breeds of dog native to Japan.

Why is the Shiba Inu the most popular dog in Japan? - K9 Web

  • Dogecoin was launched on December 6, 2013, and within the first month, there were over a million visitors to Dogecoin.com.
  • Dogecoin has been used to try to sell a house and has been used in the pornography and poker industries.
  • Several cases of people using their employers' or universities' computers to mine Dogecoin have been discovered.
  • In January 2021, Dogecoin went up over 800% in 24 hours as a result of attention from Reddit users, encouraged by Elon Musk and GameStop's short squeez.
  •  In February 2021, Dogecoin hit its all-time high price following Twitter encouragement from Elon Musk, Snoop Dogg, and Gene Simmons
  • The current market capitalization of Dogecoin is US $5,382,875,000 as of January 28, 2021
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