Dogecoin is a cryptocurrency that started as a joke back in 2013. Just like bitcoin, Dogecoin is also a part of digital currencies. The meme currency recently turned out to be really profitable. Unlike other cryptocurrencies, Dogecoin is totally unpredictable right now. Back in 2015, Dogecoin creator sold all his coins to buy a Honda Civic. However, the meme currency is now bigger than the Honda.
Bitcoin is famous all over the world, however, Dogecoin has some specific niches and is known for its properties there. The official website described it as “Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online”. IBM developer named Billy Markus and Adobe data scientist named Jackson Palmer invented this cryptocurrency for the first time back in 2013 as a substitute for Bitcoin and the satire about cryptocurrencies by the internet world. The co-creator of Dogecoin Billy Markus said:
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,
Dogecoin holders had high hopes that on 8th May, after the Elon Musk SNL Appearance, dogecoin is going to rise. However, Elon Musk called it a “hustle” and the price went down because of panic sellers.
Elon Musk recently stated that SpaceX is now accepting dogecoin to launch the upcoming satellite DOGE-1 to the Moon. Today, Musk asked his Twitter followers:
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
Dogecoin is currently at $0.493892 with a market cap of $63.92B. Dogecoin holders are still hoping for a price surge after the recent Elon Musk tweet. The tweet already got 76.9% Yes votes.
Masab Farooque is a Tech Geek, Writer, and Founder at The Panther Tech. He is also a lead game developer at 10StaticStudios.
When he is not writing, he is mostly playing video games