#Dogecoin #Meme #Doge
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#Dogecoin #Meme #Doge
What is Dogecoin? What is Doge? What is a Meme? Billy Markus and Jackson Palmer?
What is Doge?
Doge is an Internet meme that became popular in 2013. The meme typically consists of a picture of a Shiba Inu dog accompanied by multicolored text in Comic Sans font in the foreground
The text, representing a kind of internal monologue, is deliberately written in a form of broken English
What is a Meme?
An Internet meme, more commonly known simply as a meme , is a type of idea, behaviour, or style that is spread via the Internet, often through social media platforms and especially for humorous purposes
What is Dogecoin?
Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees
Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake
It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 on January 28, 2021.
Who are Billy Markus and Jackson Palmer?
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 peer-to-peer digital currency that could reach a broader demographic than Bitcoin
In addition, they wanted to distance it from the controversial history of other coins
Dogecoin was officially launched on December 6, 2013 and within the first 30 days there were over a million visitors to Dogecoin.com
On December 19, 2013, Dogecoin jumped nearly 300 percent in value in 72 hours, rising from US$0.00026 to $0.00095, with a volume of billions of Dogecoins per day. This growth occurred during a time when Bitcoin and many other cryptocurrencies were reeling from China’s decision to forbid Chinese banks from investing into the Bitcoin economy
Three days later, Dogecoin experienced its first major crash by dropping by 80% due to this event and to large mining pools exploiting the small amount of computing power required at the time to mine Dogecoin
During the 2017 to early 2018 Cryptocurrency bubble, Dogecoin briefly reached a peak of $0.017/coin on January 7, 2018, putting its total market capitalization near USD 2 billion
In July 2020, the price of Dogecoin spiked following a TikTok trend aiming to get the coin’s price to $1.
In January 2021, Dogecoin went up over 800% in 24 hours as a result of attention from Reddit users, partially encouraged by Elon Musk and the GameStop short squeeze
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