After Bitcoin, Dogecoin is the most famous and widely discussed cryptocurrency in the world, with a large following. DOGE was started as a joke but ended up gaining worldwide traction simply for making fun of Bitcoin. The founders, Jackson Palmer and Billy Markus launched the asset in December 2013 as a parody of Bitcoin. In this article, we will provide details on how DOGE made its way and changed the course of the cryptocurrency markets for good.
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History of Dogecoin in 10 Points
- Dogecoin was launched as a joke and even the founders were surprised that it gained traction after its release.
- They took the logo from the multi-colored Shiba Inu dog which was a meme template back then. A comic sans text appeared at the top of the meme acting as the dog’s ‘thought bubbles’.
- It was the first meme currency entering the cryptocurrency market and its presence made other meme tokens spring like mushrooms. The second-biggest meme currency taking inspiration from DOGE is none other than Shiba Inu (SHIB), which was launched in 2020.
- DOGE gained tremendous popularity, especially on Reddit where it is still popular and is used as a tipping currency. Hundreds and thousands of memes were made on Dogecoin making it the most popular cryptocurrency in the markets.
- The jokes and memes molded the community into a strong force turning them into passionate investors who deeply cared about the meme coin.
- Apart from fun and games, the crypto community was behind several charitable events starting the Dogecoin Foundation. The motto “Do only good every day” took shape making the community more responsible towards social causes.
- In late 2020, Tesla CEO Elon Musk announced that he had invested in Dogecoin. However, he did not specify how much money he has poured into the meme coin but confirmed that he holds DOGE.
- Elon Musk also hosted the Saturday Night Live (SNL) episode in May 2021 titled ‘The Dogefather‘.
- Dogecoin kick-started a major rally after his investment and hit an all-time high of $0.73 in May 2021.
- Just recently, the Dogecoin Foundation partnered with top YouTuber Mr. Beast raising $30 million. The amount was used to remove 30 million pounds of trash from the world’s oceans.
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