In 2010, the owner of a Shiba Inu named Kaboso posted a photo on the internet that quickly became a meme known as “Doge.” At the same time, cryptocurrency was rising in popularity. Eventually, they merged to become dogecoin.
That’s a simple explanation. In reality, the history of Dogecoin is a little more complicated than that. Whether you’re already investing in this coin or not, it has a fascinating history.
This overview of how a joke became one of the best types of cryptocurrency will make you even more willing to invest in it.
In the Beginning
Doge began as a meme of a cute dog photo that took over the internet. At the time, bitcoin was the most popular and one of the only types of cryptocurrency available on the market.
Billy Marcus, seeing the popularity of bitcoin, wanted to introduce a new cryptocurrency onto the market. He contacted Jackson Palmer, who was skeptical of the hype around cryptocurrencies. In an attempt to create a parody of bitcoin, Marcus and Palmer minted the first dogecoin blockchain network in 2013.
Dogecoin’s coding took inspiration from litecoin, another popular cryptocurrency at the time. The blockchain technology attached to dogecoin helps verify authenticity and value.
How Dogecoin Became a Cryptocurrency Market Leader
Even though it began as a joke between friends, dogecoin skyrocketed to one of the most popular coins available in the cryptocurrency market. The hilarity of the coin sparked a wildfire in buyers.
One of the most notable buyers for dogecoin is Elon Musk, also considered “Daddy Doge.” His support of the coin brought it into mainstream markets and made people feel secure in their investments. You can track spikes in value alongside certain tweets Musk has made about dogecoin.
More celebrities are starting to invest in dogecoin. Mark Cuban, for example, has voiced his support for the coin.
Between the love of the original meme, support from celebrities, and growing hype, dogecoin has become a market leader. It’s something anyone can invest in.
What’s the Future of Dogecoin Look Like?
More people are starting to join the team that runs dogecoin. The founder of Ethereum (the blockchain source for many NFTs and a valuable cryptocurrency) Vitalik Buterin recently joined. And, Jared Birchall who heads Elon Musk’s family office has started putting time into dogecoin as well.
Dogecoin price rises and drops just like any cryptocurrency. Recent trends are showing that dogecoin is starting to increase its value once again. Whenever the price of dogecoin drops, it’s the perfect chance for people to invest money into it.
Learn From the History of Dogecoin!
If the history of dogecoin teaches us anything, it’s that new ideas can eventually become an iconic part of our society. Even if it starts as a joke, with enough effort, it can become one of the most popular parts of the marketplace. If you have a dream, learn from the history of dogecoin and start persuing it today!
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