Dogecoin- The Meme Crypto
- Tanishq Wadhwani
- May 5, 2021
- 2 min read
Twitter: Dogecoin is an open source peer-to-peer cryptocurrency, favored by shibas worldwide. Elon Musk thinks we're pretty cool.
Dogecoin emerged in 2013 as a joke. It was created by Jackson Palmer and Billy Markus to satirize the growth of altcoins by making the doge internet meme into a cryptocurrency. While it was birthed as a joke, it actually led to some practicality as its large supply and low price facilitated efficient micro-tipping content on social media. It created a payment system that is instant, fun, and free from traditional banking fees It is a derivative of Luckycoin which forked from Litecoin and uses a Scrypt algorithm. Dogecoin has 1 minute block intervals making it faster than other blockchains. There is no cap to the supply of coins and thus the coin can inflate infinitely. Dogecoin features the face of the Shiba Inu dog from the "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of US $85,314,347,523 on May 5, 2021.
Started as a meme token, Doge quickly gained prominence and nowadays is recently “shilled” by Elon Musk. I could write about its fundamentals, which to be honest are abysmal (high transfer fees, high inflation, low usage), but that’s not the point with Doge. Doge is a pure funny coin, one whose value comes from the number of people who think it’s fun to create memes about the prime barker, and surprisingly this has launched Doge into the top 10 cryptocurrencies by market cap recently. Know getting in that this is by far the most speculative crypto, and use it with play money only.
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