Dogecoin has been growing in popularity and is being talked about a lot lately. It’s easy to see why since it was one of the best-performing coins in February of this year!
Dogecoin has been a huge topic in recent news. The cryptocurrency surpassed Bitcoin as the most discussed topic on Twitter and quickly became the favorite meme of many, including Tesla CEO Elon Musk. The following article outlines its ironic and interesting history.
What is Dogecoin (DOGE)?
Dogecoin is a decentralized, peer-to-peer digital currency that allows you to easily send money online.
DOGE is similar to Bitcoin. Because it was built on the Bitcoin source code. However, it’s much easier to mine, and unlike Bitcoin, DOGE has an unlimited supply of tokens, and more than 120 billion are in circulation.
One of the early credits to the success of DOGE is its use for “tipping.” In addition to just liking a post on social media, users can turn their likes into something more meaningful and valuable by using their coins elsewhere.
Disclaimer: Cryptocurrencies like Dogecoin offer an interesting way to diversify your portfolio and hope for a potentially lucrative market. They have become increasingly popular in recent years and so it is wise to investigate further before engaging in this investment.
Where did Dogecoin come from?
Dogecoin was founded in December 2013 as a “joke” currency based on. The popular internet meme of the Doge. And since this joke has caught on, its market cap has skyrocketed north of $7 billion.
What is a “doge”?
The doge is a meme on the internet made by a Japanese dog breed called the Shiba Inu. The meme typically consists of a Shiba Inu picture accompanied by multicolored text in Comic Sans font in the foreground. The text uses phrases like “Wow” and “Much Wow” to convey its sense of humor.
Jackson Palmer was one of the founders of DOGE and only wrote this tweet as a joke. He said, “investing in Dogecoin, pretty sure it’s the next big thing.” The tweet receive lots of attention and he continued to make fun of the dogecoin.com pictures, buying them as a joke.
Billy Markus, a software engineer at IBM. Was just blown away by the offers in the viral tweet and website. Rico told everyone how excited he was about Dogecoin as a cryptocurrency.
It has the potential to change lots of lives all over again. Although he didn’t hear back from Palmer immediately, he started working on the project, which took only three hours. He ended up setting ‘Dogecoin’ live on his lunch break.
Markus and Palmer did not think Dogecoin would take off, but then came the Dogecoin subreddit and the exponential growth that followed.
Dogecoin and Reddit
For the last few years, Dogecoin has been gaining popularity. With it came the different mining pools and businesses that support the Dogecoin token.
With the increase in popularity of online currencies like Bitcoin, it has become much easier to tip someone via Reddit thanks to popular bots and AI technologies. Popular posts will often include instructions for anyone who wants to send DOGE or other currency as a tip.
People were sending Dogecoin back and forth in a complimentary manner. That cost next to nothing. People on Reddit shared the currency back and forth constantly, expanding the user base of an already popular currency and raising its value.
Dogecoin is a cryptocurrency. That was not created to advertise its value. This made the demand for it increase in the time leading up to this point. Where there was increased comfortability withholding it.
The Growth of Dogecoin
2021 things. Dogecoin, which was traded for a few cents in early 2015, saw record-setting gains over the last decade. In February of 2021, it reached an all-time high of $0.08711, passing the Bitcoin market share. The price of cryptocurrency is currently ranked 17th on CoinMarketCap.
Curiously, DOGE’s recent increase has more to do with its successful internet marketing campaign than it does with the cryptocurrency’s new popularity.
The Dogecoin rocket then moved. It is way onto the video app TikTok. A trend was sparked and the Dogecoin challenge trended for several days. It also soared when retail traders organized via Reddit’s WallStreetBets, were frustrated by GameStop trading restrictions.
Elon Musk has a history of joking about DOGE in public settings –
but he also says, that what keeps him from fully embracing the currency is, ironically. Its inclusion in his personal life since it’s not as practical as other forms of investments.
Cryptocurrency is attracting a lot of attention. Because it’s still fairly untraditional. There is a decent amount of distrust in the system, as some believe that certain stakeholders are going to use it for their own benefit.
Their immense power and control to manipulate the market. However, Elon Musk still continues to joke around about Dogecoin on Twitter. He has been seen making recent surprise tweets for his followers.
The price of Dogecoin has stabilized. After social media, the trend has died down, but the community of supporters continues to grow, and many believe that the coin could be next-level. Dogecoin serves as a gateway into the cryptocurrency world now as well.
Dogecoin has experienced a resurgence in recent months. Finally finding a prominent place in the mainstream finance world. Whether it’s through the news of improved scaling and security in the near future. Speculation of how far cryptocurrencies will go, dogecoin looks to be here for the long haul.
Where can I buy Dogecoin?
Dogecoin has now become available to buy and trade on Voyager’s app! Plus, as of March 1st, 2021, you will be able to earn 2% interest annually on a minimum average balance of 5,000 doges per month.
How to buy Dogecoin on Voyager:
1. Get the Voyager App: Now available in Apple iTunes Store and Google Play Store, visit the store and search Voyager or click here to download now.
2. Open a Voyager Trading Account: Go to the website and create a trading account. The company is licensed as a financial institution. So they must collect your info. If they want to protect you. Their goal is to keep it safe. So now that all of your personal information is in good hands with them.
3. Link your Bank: Navigate to your user icon on the main Market screen and tap “Bank Accounts”. On the Bank Accounts page, select “Add Bank Account” and follow the instructions.
4. Fund your Voyager Account: To deposit USD, go to your account page, tap “Transfer Cash or Crypto,” tap “Deposit to Voyager Account,” and select USD. Once you withdraw the amount you’d like (as well as the desired fee). It is in the field highlighted by the link attached. With your deposit address dictated by Voyager. Now you can trade instantly.
5. Buy Dogecoin: Navigate to the Market Screen. Scroll until you reach “DOGE.” Tap to open the Serum page, then tap “Buy DOGE.” Enter the amount of USD you’d like to spend and slide. The purple banner from left to right is across the screen to complete your purchase.
Trading on the Voyager app is currently available to all U.S. residents, excluding New York state. We are actively working with regulators to expand to New York and internationally in the future.
1 thought on “The History of Dogecoin A beginners guide”
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