What is dogecoin
Well widely known in the cryptic community dogecoin is considered more of a meme than a serious cryptocurrency. Dogecoin was created in 2013 and named after the popular meme of a Shiba Inu.
How it started The creators of the cryptocurrency used litecoin technology to power dogecoin. dogecoin was created as a sarcastic joke by Jackson palmer a product manager at adobe a software engineer at IBM. Bill Marcus saw the buzz dogecoin was getting and developed software for palmer to accompany his product.
From there the cryptocurrency jumped a staggering 300 per cent after only two weeks of being launched after becoming a viral sensation, however, dogecoin is an inflationary coin meaning there is no finite number of dogecoin to be mined. Instead of the number is unlimited which the creators believe created a more versatile newcomer-friendly community also means that the price can never be driven up by scarcity. Since there is no supply cap, the sense of community through dogecoin has always been palpable.
At the height of their success, they donated millions of coins to relief funds and humanitarian projects worldwide unfortunately the friendly community that began dogecoin did not continue and the coin took losses after a handful of scandals and scams.
Like the rest of the crypto community, dogecoin took a massive plunge in 2018. however, despite the controversy and downfall of cryptocurrency, a dedicated team of miners continues to mine for dogecoin and believe in the mission. More recently in 2020 after a week of viral videos on TikTok the coin jumped 35 in price and 2 000 in volume and while that was short-lived dogecoin still ranks as a top 50 cryptocurrency.