Dogecoin has surpassed Bitcoin as the most common cryptocurrency. Perhaps it is too early to tell, but Dogecoin could become the cryptocurrency in the upcoming months of 2021. It’s still on the right path, with a noteworthyrise since the beginning of the year. Since January 20, 2021, Dogecoin like DogeCoin stock has yielded approximately 1900% returns. That’s right, you read correctly. One coin was just the once worth less than a penny, but its cost has risen to $0.122680, or nearly 12 cents, thanks to the recent boom. For a digital currency that began as a joke, that is amazing. In a little while, we’ll get to that.
It began as a joke and has since developed into a worldwide phenomenon.
Jackson Palmer and Billy Markus, two software developers, developed Dogecoin as a witticism to be used as an amusement and prompt cryptocurrency. There’s a good chance you’ve seen or read about the Doge meme if you’ve been on the internet recently. The Shibe character was featured prominently.
Palmer, a marketer from Australia, once joked about merging two of the internet’s most talked-about topics: Doge and cryptocurrency. “I’m pretty sure Dogecoin is going to be the next big thing,” Palmer tweeted. Many people on the internet noticed the tweet and began discussing Dogecoin as a result. Palmer continued the gag by purchasing the domain Dogecoin.com and uploading a picture of Shibe on a coin.
It’s possible because of Reddit.
And when Markus and Palmer had the Dogecoin prepared, they were not attentive in indorsing it. Reddit makes a move, and it’s the same platform you saw through the GameStop saga. The Dogecoin subedit erupted almost instantly, providing them with the necessary attention and resources to make a cryptocurrency effective. Reddit users began sending Dogecoins to one another as a token of love or respect. The platform’s popularity grew as a result of the constant exchange of currency on the platform.
The recent celebrity
Despite its large following on Reddit, few people took Dogecoin seriously, and its applications were limited. It’s called a “meme coin” on the website. PreviouslyElon Musk, the CEO of Tesla, twittered this year that he would put a Dogecoin on the moon. Some ventured that it was an April fool’spun, but Musk has since sent several cryptic tweets about the cryptocurrency. Only a few other actors followed suit. The Dallas Mavericks, owned by billionaire Mark Cuban, have confirmed that Dogecoin will be accepted as payment. Snoop Dogg, the rapper, and Gene Simmons, the bassist for the rock band Kiss, both tweeted about it. The spike is also thought to be the product of a recent TikTokdesign. Since Dogecoin was so low-priced, TikTok videos went viral, inspiring people to purchase it. Before investing, you can check DogeCoin news.