Dogecoin, of course, cannot compete with the most famous cryptocurrencies, but still has its fame, which it owes, in particular, to its logo. This is an image of a Shiba Inu dog and this image has become a very popular meme.
The joke has become a cryptocurrency
Dogecoin (DOGE) is an open source cryptocurrency. Considered an altcoin (or alternative digital currency), Dogecoin was created by computer engineers Billy Markus and Jackson Palmer in 2013. It was created based on Litecoin and thus uses the same proof-of-work verification system. This cryptocurrency was created without very serious intentions, in particular to make fun of the huge enthusiasm we had at the time for speculation in cryptocurrencies and in particular bitcoin.
The joke was stated by the name of the cryptocurrency, which refers to “doge”. This is a well-known Internet meme, which is represented by a dog of the Japanese Shiba Inu breed. The dog shows a puzzled look, and his photo is accompanied by colorful text in the foreground. The text evokes an internal monologue using deliberately approximate and somewhat silly expressions. Of course, this meme predates Dogecoin.
Doge was first used in 2010 by Japanese teacher Atsuko Sato, owner of the famous dog named Kabosu. She uploaded the image to her blog, which she created eight months earlier, where she posted photos of her pets. In addition to the name that refers to “doge”, Dogecoin has also used the image of the famous Shiba Inu dog as its logo. But despite its satirical nature, Dogecoin is a real cryptocurrency with legitimate investment prospects.
Very affordable cryptocurrency
Indeed, while Dogecoin was initially mostly a joke, its creators ultimately saw it as an opportunity to offer a cryptocurrency accessible to a wider audience compared to the best-known digital currency on the market, namely Bitcoin. And while Dogecoin doesn’t have the same prominence as cryptocurrencies like Bitcoin and Ethereum, it does have its own notoriety. Dogecoin has received endorsements from many celebrities including Elon Musk, Snoop Dogg and Gene Simmons.
Its fan community has also played a big role in its launch and current popularity. Indeed, in its infancy, a community of enthusiasts organized several promotions to raise the profile of Dogecoin. For example, they launched a fundraising campaign to send the Jamaican team to the 2014 Olympics. Subsequently, cryptocurrency users also saw that Dogecoin as a cryptocurrency has great advantages. The notable features of Dogecoin are mainly its relatively low price and the possibility of an unlimited supply.
In its ten years of existence, Dogecoin has had its ups and downs. Even though this cryptocurrency currently seems to be on a downward slope, it currently ranks ninth among the largest cryptocurrencies by volume.