Dogecoin began as a joke cryptocurrency, but it has grown to a market capitalization of $7 billion and a massive global following. How did Dogecoin origin happen?
Short Note on Dogecoin
Adobe product marketing manager Jackson Palmer and software developer Billy Marcus developed the mock cryptocurrency Dogecoin in late 2013. The two make the project as ridiculous as possible by focusing on the doge, a viral Internet shrine to Japanese Shiba Inu dog.
DOGEUSD started its journey as a lighthearted cryptocurrency. Today catches people off guard with a price of $0.05895. The compiled dogecoin, based on the C++ programming language. It is a Litecoin fork with no mining limit and a market cap of over 21 million, surpassing bitcoin. It is well-known for its fundraising efforts all over the world. It is used as a tipping service to identify positive content posts on Twitter and Reddit.
Reasons behind Popularity of Dogecoin
1 Dogecoin community
The community had its first predominant hack on December 25, 2013. The “Christmas Hack” of the dogecoin. A malicious attacker allegedly broke in and stole 11 million doges from a third-party wallet provider. Two days after the attack, the community effort to reimburse victims of the hack was referred to as “Saving Dogmas.” Though formed only a few weeks ago, more than 15 million doges wallets were donated to the community of Shibes. In the upcoming years, this act becomes a vital defining feature of the Dogecoin community.
2 Real UTILITY
In 2014, the Dogecoin community was eager to demonstrate the actual use of memory-based crypto-monetary funds through DOGE funds to support a wide variety of sports and charity causes. Another initiative led by the community is named Doge 4 Kids. It was launched in February 2014, that raised $30,000 for four paws for Ability charity that serves children with special needs.
On March 11, 2014, $50,000 was donated by Dogecoin to a charity: the Water Project in Kenya for the establishment of clean water infrastructures. On 17 March 2014, Josh Wise was challenged by a NASCAR driver to sponsor himself into Talladega SuperSpeedway Race. There were donations of more than 67 million doses worth 55,000 million.
3 CELEBRITY DOGECOIN SUPPORTERS
The list of vital celebrities who frequently express their support of Shiba Inu’s topical cryptocurrency on social media is a prime contributor to Dogecoins’ global popularity in recent years. The list includes Carole Baskin, Gene Simmons, Kai Greene, Mia Khalifa, American rapper Snoop Dogg, Lil Yachty. However, Dogecoin’s most popular support is no other than Elon Musk, Tesla’s CEO and the world’s richest.
In short, Dogecoin’s early success on the crypto market was supported by the selfless community, the light appearance of the project, and the real-world application. DOGEUSD‘s value has risen over the past few years, essentially by taking a life that it never intended for its creators. You can find more information from https://www.webull.com/newslist/ccc-dogeusd.