What is Dogecoin?
Dogecoin is a very curious cryptocurrency whose success has surprised everyone, including its creators. The coin’s public image is the well-known meme of a Shiba Inu dog, named ‘Kabosu’. This dog is owned by a Japanese kindergarten teacher who is famous for blogging her pets’ lives. IBM’s Billy Markus and Adobe’s Jackson Palmer chose Kabosu as the image of a new coin to make fun of the growing altcoin-mania. Dogecoin was launched on 6 December 2013 and the meme-coin’s fame spread so quickly that its capitalisation increased by 300% in a fortnight.
Why buy Dogecoin?
Dogecoin has always attracted investors since its inception. In just one year it reached $76 million in market cap, eventually exploding in 2017. Its playful nature, now as in the past, makes it so that the price is heavily influenced by episodes of speculation, driven by the highs of other cryptocurrencies. Nothing, however, compares to what happened in 2021 following Elon Musk’s famous tweet – Dogecoin shot up +1100% in four months, rightfully cementing its place among the top 10 currencies in the crypto world.
How was it created?
Dogecoin was created in 2013 as a memecoin. Its developers, Jackson Palmer and Billy Markus, were Bitcoin enthusiasts, but they didn’t like the surge of new cryptocurrencies that were being released. They created Dogecoin as an altcoin parody, but the coin encountered widespread success thanks to its community.
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