Dogecoin started as a joke
Dogecoin (DOGE), one of the hottest cryptocurrencies in 2021, has seen a surge in popularity thanks in part to support from Tesla CEO Elon Musk. Despite starting out as a joke, this cryptocurrency has made its way to the ranks of the world’s largest cryptos, recently surpassing Cardano ADA as the 6th largest.
The backstory of Dogecoin is interesting as it emerged from the creators’ discontent with the proliferation of new cryptocurrencies in the market. In response, they decided to invent a cryptocurrency that utilized a popular meme featuring a surprised-looking Shiba Inu dog.
Despite its origins as a joke, Doge has defied expectations and has demonstrated impressive staying power. With its continued popularity and growing community of enthusiasts, Dogecoin is definitely a cryptocurrency worth keeping an eye on in the world of digital currencies. Whether you’re looking to invest in digital assets or are simply curious about the world of crypto, Doge is certainly an intriguing option!
1. Dogecoin Was Created in About 2 Hours
Dogecoin dubbed the ‘people’s coin’, is a popular cryptocurrency that has taken the world by storm since its launch on Dec 6, 2013. Co-founders Billy Markus and Jackson Palmar, both software engineers at IBM at that time, created Doge in just two hours, as Markus confirmed on Twitter in May 2021.
The coin’s affordability to the Average Joe has made early investors millionaires, while latecomers are hoping to become millionaires if it reaches $1. This meme-coin has had fascinating stories since its inception and is considered the ‘fun and cool’ cryptocurrency. To help you learn more about Dogcoin, we have compiled five interesting facts about it that you probably never knew.
If you’re curious to know more, check out our article on “Who Owns the Highest Number of Dogecoins”. Overall, Dogecoin’s light-hearted nature and strong community support have helped it maintain its position as one of the most popular cryptocurrencies in the world.
2. It is Forked From Luckycoin, Which Spilt From Litecoin
Doge, abbreviated as DOGE, is a popular and rapidly-growing cryptocurrency that has taken the world by storm due to its unique origins and features. Interestingly, Dogcoin is a direct descendant of Luckycoin, which itself is a forked version of Litecoin. Moreover, Litecoin was initially developed by copying the source code of the legendary Bitcoin.
This lineage and series of evolutionary steps clearly demonstrate the strong ties that bind Dogecoin to Bitcoin, which is the granddaddy of all cryptocurrencies. However, despite its origins and affiliations, Dogecoin remains distinct and unique, thanks to its strong community, fun-loving character, and low transaction fees! With some experts predicting an even brighter future for Dogecoin, it is certainly worth considering for anyone looking to invest in cryptocurrency or join a welcoming community with a sense of humor.
3. Billy Markus Had Sold All His Doge
‘‘I’ve always said was I sold everything for about as much as it would cost to buy a used Honda Civic. This was all my crypto too, I had Litecoin and Bitcoin and Doge and a bunch of other ones,” said Markus.
In a recent statement, Billy Markus, the co-founder of Dogecoin, shared that he sold his Dogecoins back in 2015. This decision to part ways with his Dogecoins at the time likely left him with a significant return on his investment, as Dogecoin has been on a meteoric rise in value in 2021, reaching record highs.
While some may question his decision to sell his beloved Dogcoins, Markus remains pragmatic about his decision, stating that “everything happens for a reason,” and that he does not regret his decision. Markus went on to add that he remains a strong supporter of Dogecoin and is excited about the future of the cryptocurrency. Despite the missed opportunity, Markus’ story serves as a reminder to think carefully about investments and to assess long-term potential when making decisions about buying or selling.