What is DogeCoin?

What is Dogecoin (DOGE)?

Dogecoin is an open-source peer-to-peer cryptocurrency. The symbol of the coin is the well-known Internet meme Doge with the image of a dog of the Shiba Inu breed. If you translate the name into Russian literally – “dog coin”

The official website of the project is dogecoin.com

The cryptocurrency was created on the basis of another Luckycoin project, which was made from Litecoin , which in turn was a fork (offshoot) of Bitcoin. The main differences between Litecoin and Bitcoin were faster transactions and a huge number of coins.

Who created Dogecoin?

Dogecoin was created by two programmers, Billy Markus and Jackson Palmer. Blockchain was launched on December 6, 2013, and the creators themselves called it a joke .

Later, in 2015, Billy Marcus sold all his DOGE, he wrote about this in an open letter to the community on Reddit.com. It should be noted that this platform had a serious impact on the development of the project, even today the branch dedicated to the project is very popular.

In the spring of 2015, the second founder of the project, Jackson Palmer, announced plans to take an “extended vacation”.

Elon Musk and Dogecoin

The richest man on the planet, Elon Musk , although not directly related to the creation of the coin, has become one of its iconic figures. After his first tweet about the coin, the price of Dogecoin has more than doubled.

Elon posted the first post on February 6, 2021, the message contained the question “The Future of the Earth’s Cryptocurrencies” and there were two possible answers:

  • Dokicoin to the moon
  • All other crypto

Forecast and prospects

There has always been a lot of skepticism around the project, the creators themselves called it a joke, but thanks to the rapid development of the cryptocurrency industry and an active community, the official Dogecoin Twitter account has more than 2.7 million subscribers, the project is not only in the TOP20 in terms of capitalization, but is also one of most mentioned in the media and social networks.

Such fame does not go unnoticed, and in March 2021, the owner of the Dallas Mavericks basketball club, Mark Cuban , announced that his team would allow you to buy tickets for matches, souvenirs and food using Dogecoin. In May 2021, SpaceX announced a joint mission to the moon with Dogecoin, which will be paid for with the DOGE cryptocurrency.

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