What is Dogecoin (DOGE)?
Altcoin with the logo of a friendly dog, this crypto is enjoying popular success around the world, much to the surprise of analysts and traders in the crypto industry.
What is Dogecoin?
This is the question that many people ask themselves when they hear about this cryptocurrency which, originally, was just a joke that has become a worldwide success!
Dogecoin is a decentralized peer-to-peer digital currency that allows you to easily send money online.
This same definition could be applied to other more established cryptocurrencies, including Bitcoin, Ethereum or Litecoin.
Little known to the general public a few years ago, it now competes with Bitcoin (BTC), Ethereum (ETH), BNB or even the famous Ripple XRP in the CoinMarketCap ranking.
Who created Dogecoin?
Dogecoin is a cryptocurrency created in 2013 by computer developers Billy Markus and Jackson Palmer as a satire of Bitcoin and the growing popularity of cryptocurrency.
Billy Markus, IBM programmer from Portland, Oregon, wanted to differentiate their crypto from bitcoin, which was steeped in mystery with an anonymous creator and at the time backed by a small group of miners.
Markus wanted his cryptocurrency to be focused and open to the general public, so he sought help making his dream come true and found Jackson palmer, who worked for Adobe.
Palmer then bought the domain dogecoin.com in order to launch this adventure which has become an unexpected success for its creators.
The name Dogecoin comes from the slang term “Doge”, which is a misspelling and pronunciation (“dohj”) for “dog”.
The dog in question, a cute little Shiba Inu, was an internet “meme” sensation in 2013, which never really went away.
So Doge brings up all kinds of funny things in English, using broken English and bad spelling.
Popular for its fun and fun side, Dogecoin has a very active online community on Reddit, Twitter or Facebook, also known as Dogecoin Army.
She has notably raised money (in dogecoin, of course) for charitable causes, and in 2014 she successfully funded a sponsorship to get Nascar driver Josh Wise to advertise dogecoin on his car.
What is Dogecoin (DOGE) used for?
Like all cryptocurrencies, Dogecoin is a digital currency which can be bought and sold as an investment and spent as cash.
Although each crypto is unique, it shares some similarities with its better-known peers, its blockchain computer code is based on the Litecoin script.
The DOGE token has a few key differences from Bitcoin
Unlike Bitcoin, which has set the maximum amount of BTC tokens that can be put into circulation at 21 million, Dogecoin has 129 billion tokens in circulation and will continue to make new tokens available each year.
This is part of the reason why a dogecoin is currently worth a few tens of cents and a bitcoin is worth around $ 62,000 in April 2021.
Although cryptos are increasingly accepted as the currency to purchase products, Dogecoin does not have much use in the real world.
It has a few niche markets, including using the DOGE token to tip online artists.
The Elon Musk effect
The popularity of Dogecoin soared when Elon Musk, CEO of Tesla and SpaceX, began to talk about it regularly on his Twitter account but also on television in the show Saturday Night Live.
Going so far as to call himself the “Dogefather”, Elon Musk even bought Dogecoin for his baby.
So, Tesla CEO Managed To Raise Dogecoin Price To New Highs, to the delight of those who owned it and some of whom became millionaires thanks to the explosion of the Dogecoin price.
We also count the rapper Snoop dogg who also promoted Dogecoin by uploading a video dedicated to the DOGE cryptocurrency.
Dogecoin is no longer a joke, its popularity has skyrocketed thanks to Elon Musk but also thanks to the widespread adoption of bitcoin and other cryptocurrencies.
Where to buy Dogecoin (DOGE)?
Buy Dogecoin on Binance and get 20% discount on trading fees thanks to our promo code: Click here.
Dogecoin automatic trading
Where to store Dogecoin tokens safely?
You can store it securely on a Ledger Nano X.