Home Cryptocurrency What is Dogecoin? Why is Dogecoin getting so popular?

What is Dogecoin? Why is Dogecoin getting so popular?


Out of a sudden, everyone is talking about Dogecoin. What made this coin so popular? Well, today I will share with you all about this coin. Dogecoin was co-founded by IBM software engineer Billy Markus from Portland, Oregon, and Adobe software engineer Jackson Palmer, who set out to create a digital currency that could reach a broader demographic than Bitcoin.

Dogecoin is a meme-based cryptocurrency. It was launched in 2013, it’s similar to Bitcoin but unlike bitcoin, it has no value cap or mining limit. About 100 billion of these have been mined with about an increase of 5 billion every year.

The Dogecoin is based on the famous Shiba Inu meme that was popular several years ago. The meme is getting its popularity back in 2021. Can you believe it? A cryptocurrency based on just a joke! Well, this currency took a different road, and now it isn’t a joke anymore!

The rate of Dogecoin is 0.076$ which is not a lot compared to Bitcoin but it has recently been on the rise.

Dogecoin has gained its popularity mainly because of the tweets of Elon Musk, and also because it’s basically a meme. But due to the popularity of Elon, people started buying the coin. People invested a ton of money into this currency hoping it can reach a good value and make them rich.

Elon has now multiple tweets on his Twitter regarding Dogecoin and he is even asking people to spend on it.

Seeing how the popularity of Bitcoin rose, many people are investing in this currency in order to get ready if it ever rose and that is why everyone is talking about it.

One popular event is when in December of 2013 a hacker got access to the official website as well as the Dogewallet and stole a huge amount. Soon after this, the fans launched a campaign to donate to recover the stolen Dogecoin, the initiative was named “SaveDogemas”. One month later enough donations were collected to recover the theft.

Who knew we would see a meme currency get popular.

Will you be investing? Share your opinions!

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