A Booming Cryptocurrency Dogecoin.

Dogecoin

Tesla CEO Elon Musk and rapper Snoop Dogg sent out flurry tweets about the digital currency based on a meme ‘Dogecoin’, which has captured public attention. A cryptocurrency that started as a joke back in 2013 by two engineers has now a capitalization of $54 billion and a huge global following. It is no longer a joke.

The two engineers, Billy Markus, a software engineer from IBM and Jackson Palmer, a software engineer from Adobe had combined successfully two of 2013’s greatest phenomena: “Bitcoin” and “Doge”. The result is “Dogecoin”. The two set out to make it “as ridiculous as possible” and centred it on a popular internet meme of a Japanese Shiba Inu “Doge”. It has officially gone live on Dec. 6, 2013, and became an instant hit with the community. Not only it was a comical cryptocurrency that could be easily mined and cost a cent to buy, but also the crassness of its creation came as a pleasant breath of fresh air for many individuals who just wanted to experiment with cryptocurrencies.

So, what is the story behind Dogecoin’s sudden rise to prominence? In summary, it appears that the selfless community, the lighthearted origin of projects, and its real-world application were key factors in dogecoin’s early success in the crypto market. Thanks to online communities and support from celebrities like Elon Musk, Dogecoin has become a form of cryptocurrency avatar for meme culture in recent years. DOGECOIN has gained in value as that culture has grown in popularity, its designers never anticipated.