Dogecoin is a cryptocurrency known thanks to the Japanese dog “Kabosu”. Its logo features the image of the popular internet meme dog “DOGE”, hence why many wonder what Dogecoin is. When it was created, even the founders did not expect it to become so popular. In fact, the original founder of the coin, Jackson Palmer, was only joking when he tweeted about the creation of Dogecoin. As for the currency itself, it is one of the oldest cryptocurrencies in the field.
History of Dogecoin
The same year 2013, the programmer Billy markus saw an opportunity. He partnered with developer Jackson Palmer to create Dogecoin, a real cryptocurrency based on the Doge meme. That same year, Jackson Palmer, a member of the Adobe Systems marketing department, acquired the domain dogecoin.com.
First message on Twitter
The site is launched after a Twitter message from Jackson Palmer in which he jokes that he wants to invest in Dogecoin. However, his friends liked the idea and suggested that he make cryptocurrency a reality. One night, when Jackson Palmer got bored, he decides to start working on the first version of his rig.
The beginnings of cryptocurrency
At first, the dogecoin.com site was just a flash page with an image of the logo and some paragraphs written in Comic Sans font. It seemed like a joke that people weren’t taking seriously because it was based on an internet meme. However, after years of work, Dogecoin.com has developed a fully functional website and has even become a cult page.
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The creator of the coin
The cryptocurrency itself was created by programmer Billy Markus, an IBM software developer. Before the dogecoin.com site went live, Billy Markus was working on his own project called “Bells.” The idea for this project comes from the video game “Animal Crossing”.
The official launch took place on December 6, 2013. Two weeks after its launch, Dogecoin was up 300% in three days. However, three days later, it experienced its first 80% drop. This collapse follows China’s decision to ban its banks from investing in cryptocurrencies. The other reason is due to the action of the Mining Pools that took advantage of the use of the very low computing power needed at that time to mine Dogecoin.
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Acquisition of the Dogecoin site
After a few weeks, Billy Markus developed the new site and decided to change the logo on the corner to the one used on the site. It also changed the name to Dogecoin. He then got in touch with Jackson Palmer and together they completed the project. From the moment they were certain that the cryptocurrency was working properly, they launched the official exit from the corner.
Billy Markus and Jackson Palmer started working as a fun side project. In the early stages, they never thought that Dogecoin would become so popular. In 2013, many different altcoins were launched on the market. Altcoins are cryptocurrency currencies similar to Bitcoin and Dogecoin was believed to be one of them. Let’s not forget that it is part of many charitable projects, even for different charities in Africa and South America.
Fast local success
The founders never believed that the Shiba Inu (Kabosu) dog chosen as a pet would become a cult on the internet. Thanks to the meme used, Dogecoin quickly became one of the most popular cryptocurrencies. The area quickly became famous; Billy and Jackson noticed that a significant number of people, outside of the crypto world, were showing some interest.
Attracts the attention of beginners
Different forums have been created specifically for Dogecoin and its community. It quickly became one of the largest cryptocurrency communities. The forums were the perfect place for newbies to learn how to buy, sell, and trade cryptocurrencies. Forums for beginners have also been created to help each other, learn and adapt to cryptocurrencies. Its popularity means that the founders of the cryptocurrency are still working on the project to this day.
Why use Dogecoin?
Dogecoin is mainly used to advise users and leave funny and smart comments or advice on the Internet. Dogetipbot was created for the Reddit Forum to simplify the Reddit advisory process. The community of is also known for being “attentive” thanks to the tips and charities that were able to get started with Dogecoin. Here are some charities supported by the community:
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- Fundraising for the Jamaica Bobsleigh team to compete in the 2014 Winter Olympics.
- 40,000,000 Dogecoin (at the time $ 30,000) raised to build a well in Kenya’s Tana River basin.
- In 2014, the community raised enough Dogecoins to sponsor NASCAR driver Josh Wise. After the fundraiser, Josh drove a car painted in the Dogecoin / Reddit colors in appreciation for the great support received.
Dogecoin is listed on various exchanges. Thanks to its low costs, it is often used to transfer value from one wallet to another.