A Brief History Of Crypto’s Greatest Meme
DogecoinIndeed, : oneof crypto’s most hyped coins. Moreover, more notable investors have praised the coin both for its comedic origins and as a viable “medium of exchange.” It’s worth noting that It seems as if it is always in the mouths and minds of young investors.
But from another perspective what exactly is this comical fad? Why is it that both Mark Cuban and Elon Musk are promoting this coin despite the fact that it literally started as a joke? Additionally, what does it have to do with a Shiba Inu? The answers from another perspective may surprise you.
The Origins Of Dogecoin
If you have heard the rumors, it is true: Dogecoin, quite literally, is a joke coin. Billy Marcus, a co-creator of Dogecoin, initially minted the coin in 2013.Bragging to CNBC, he says the coin was created in, “about.”two hours
The original Doge meme in its glory | Source: Wikipedia
Indeed, Originally made as aofparody of Bitcoin, and based off of the popular “doge meme,” Dogecoin spread like wildfire in the world crypto. as a matter of fact From Investopedia, “Jackson Palmer, a article manager at the Sydney, Australia office of Adobe Inc., created Dogecoin in 2013 as a way to satirize the hype surrounding cryptocurrencies. Palmer has been described as a “skeptic-analytic” observer the emergingoftech, and his initial tweets about his novel cryptocurrency venture were done tongue-in-cheek.”
Related Reading | Latest News On Dogecoin, Trends And Analysis
Later on, Marcus reached out to Palmer to develop a novel cryptocurrency. When Marcus’ desire to develop a crypto and Palmer’s scrutiny towards crypto met, Dogecoin was born.
From InvestopediaDogecoin uses Litecoin’s a engineering and is scrypt proof-of-work coin.” , “Markus based Dogecoin’s code on Luckycoin, which is itself derived from Litecoin, and initially used a randomized gain for block mining, although that was changed to a static gain in March 2014.
Who Is Behind The Hype?
As you may know, As you have probably heard by asap, Elon Musk, now crowned “Daddy Doge” by many crypto enthusiasts, has as it turns out been a huge supporter of the coin. As you may know, In an SNL skit called “Weekend Refresh,” Musk is seen participating in a comical bit featuring the coin. As the skit ends, Musk is seen yelling, “To the Moon’The studio audience is heard cheering following Musk!’ s remark. As aconsequence , Dogecoin saw a spike in their prices shortly after Musk’s appearance on SNL.
Related Reading | Every Doge Has Its Day: Dogecoin Founder Buys Back Into DOGE
Interestingly, Mark Cuban, a multi billionaire investor, is also a hugethesupporter of coin. In fact, As ofrecently , Cuban pitched inActually, on his thoughts for Dogecoin, “It’s a medium that can be used for the acquisition of goods and services. The community for doge is the strongest when it comes to using it as a medium of exchange.” Despite this remark, Cuban has faced scrutiny over the fact that he owns less than $500 in the coin.
What Is Proceed?
Just recently, notable figures have joined the Dogecoin Foundation. Vitalik Buterin, Ethereum’s founder, has just joined the team. Additionally, Jared Birchall, head of Musk’s family office.has joined the group as well,
Will this joke coin reemerge to comical heights? Recent drop amist crypto gains suggests otherwise | Source: DOGEUSD on TradingView.com
Actually, Despitea recent drop in prices, the squad remains optimistic. According to Yahoo, “Now, the group is looking As three years’ worth of funding to hire a staff and work on Dogecoin full-time.” for always, the tomorrow is uncertain, but recent changes to the group can most definitely be viewed as a positive for Dogecoin investors.
Featured image from iStockPhoto, Charts from TradingView.com
