Dogecoin, which started as a parody cryptocurrency, is almost on the verge of $2 Bln markt cap showing how far cryptocurrencies have come since Bitcoin.
Now we know that many Altcoins are on a pump and dump. At first I had the same thought about ripple and now it has crossed $3 in value and in rossed ethereum to gain 2nd position.
Dogecoin was the result of Jackson Palmer, a product manager and data analyst at Adobe.
Taking up the popular internet meme of the Shiba Inu dog, the creator produced the cryptocurrency to be a friendly online payment system, although its rise in popularity may not have forseen bby the people.
Nevertheless, Dogecoin has grown into its own community of users. Dogecoin has become popular as a ‘tipping system’ among its users.
One of the most popular uses for Dogecoin is "tipping" fellow internet-users who create or share great content. Think of it as a more meaningful "like" or upvote (similar to this platform), with real value that can be used all across the internet.
We know that cryptocurrency has no limit on the amount of coins that can be created by mining. There are over 112 bln Dogecoins in circulation. While a single Dogecoin is worth no more than a single cent, the total market capitalization is now over $1.9 bln -which is roughly equal to 72,423 Bitcoin.
The word ‘doge’ is a popular internet term for a dog, which started out as a simple misspelling of the word in a TV series.
We know that the term doge was married with the picture of a Shiba Inu dog on Reddit back in 2010, thus leading it to become one of the most well-known internet memes.
The reason that Dogecoin is low is value is might be due to the fact that in 2013, Dogewallet was hacked and millions of coins were stolen.