Dogecoin Cryptocurrency – When Joke Went Viral
What initially started as a joke, an Internet meme based cryptocurrency, became one of the biggest altcoins out there with the market capitalization passing 1.5 billion USD mark in 2017. One of the oldest coins in the crypto world, Dogecoin was created in 2013 by Billy Markus and Jackson Palmer, with the initially planned maximum amount set to 100 billion coins. The limit was eventually removed, and now it is estimated that more than 5 billion new coins are mined every year.
How Dogecoin Is Used
Dogecoin was quickly embraced by Internet users, creating a broad and notoriously friendly society. The coin was famously used for several fundraising projects, such as sending Jamaica’s bobsled team to Winter Olympics in Sochi in 2014, building water wells in Kenya, and sponsoring a NASCAR driver Josh Wise. Another frequent use of Dogecoin is tipping Reddit and YouTube bloggers.
Future of DOGE
Traditionally the coin has a very low value of an under 0.01 USD due to its progressive inflation that occurs due to constantly increasing circulation supply. Dogecoin uses the ticker symbol DOGE and employs the Shiba Inu dog from the famous Internet meme as its mascot. Dogecoin has built a huge fan base that supports it through thin and thick since its inception, but on the downside there is a lack of software development (the latest version of core came out in 2015) which can be crucial for stability of this digital currency.