A doge coin marked with a meme avatar quickly became a hot topic around the world in 2021, because it skyrocketed by 250 in one day and became the top trending Twitter in many regions. So what exactly is Dogecoin? In 2013, Jackson Palmer, a programmer from Australia, had a sudden idea to combine Bitcoin and Japanese Shiba Inu coin to create a new project on the Internet and named it Dogecoin. So far, Dogecoin has been born. 1. What is Dogecoin?
After programmer Jackson Palmer created Dogecoin, he quickly gained enthusiastic support from a large number of netizens. After that, he created a domain name and trademark for Dogecoin. The one on the picture Dog with golden coins on the background. In terms of algorithm, he uses the traditional Scrypt algorithm. Originally Dogecoin was not as popular as it is now. Later, Billy Markus, an engineer from IBM, accidentally discovered Dogecoin while browsing the web and volunteered to become the first Dogecoin developer. But after a while, both founders of Dogecoin left the Internet. However, Dogecoin has attracted a large number of followers in the Reddit area because of its magical appearance and initial civilian status. 2. Dogecoin is favored by industry leaders
On April Fool’s Day 2019, Tesla CEO Musk tweeted that his favorite digital currency is Dogecoin. He also modified his Twitter information account and directly certified himself as the former CEO of Dogecoin. Later, as Dogecoin skyrocketed, Musk made a lot of profits from Dogecoin in one fell swoop. Especially after the cooperation between Dogecoin and Tiktok, the price increased to US$598 million, ranking 26th in the global cryptocurrency market value list. 3. The market will eventually return to rationality
Dogecoin, as a highly cohesive community culture, has driven its development along with the madness of the market. However, just like the virtual currency itself, it has no entity. Like the support of assets, Dogecoin will eventually live in the past due to market changes. At present, the code of Dogecoin has been stopped for nearly two years. All we can say is that all the madness will calm down as the market calms down. Investors should proceed with caution.