On this episode of the BeInCrypto video information present, host Jessica Walker talks all about Dogecoin (DOGE)! The place DOGE began, how far it’s come, some celeb endorsements it’s picked up alongside the way in which, and the way it has earned its status because the ‘folks’s cryptocurrency.’
Launched in 2013, DOGE acquired its identify from the favored “doge” meme, which featured a picture of a Shiba Inu talking in deliberate damaged English.
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DOGE was co-founded by software program engineers Billy Markus and Jackson Palmer, admittedly as a joke. Nevertheless, impressed by Bitcoin, the founders hoped to create a P2P foreign money that would attain a broader demographic.
On the finish of December 2020, Dogecoin was buying and selling for a mere $0.004. Solely a month later, every token was buying and selling for round $0.08. That represents a virtually 2,000% appreciation! It’s now buying and selling round $0.05, however its days of sub-penny-pricing appear to be over.
Dogecoin’s shopping for stress has change into too huge to disregard, with every day buying and selling volumes routinely peaking above $10 billion as properly.
Doge’s Celeb Endorsements
Aside from his firm Tesla shopping for $1.5 billion in Bitcoin, which additionally elevated curiosity in cryptocurrencies, general, Elon Musk has been creating an ambiguous relationship with Dogecoin by way of a collection of tweets. Many see these tweets as answerable for the astronomical demand DOGE has seen since December.
Seemingly influenced by the billionaire, different celebrities have gotten in on DOGE. On Jan. 31, rockstar Gene Simmons of the band KISS introduced that he can be investing in cryptocurrencies, together with DOGE. Following this buy, he started referring to himself as “God of Dogecoin.”
On Feb. 4, tech entrepreneur Mark Cuban mentioned that he would choose DOGE over a lottery ticket in a tweet. On Feb. 7, rapper Snoop Dogg tweeting an image of “Snoop Doge” whereas tagging Musk. It’s possible this tweet despatched DOGE to its all-time excessive of $0.08.
Regardless of all of the celeb endorsements, DOGE already really has moderately good PR. The neighborhood of DOGE hodlers has raised cash for a wide range of causes over the previous few years.
For instance, in 2014, a Reddit consumer efficiently satisfied the DOGE neighborhood to sponsor a NASCAR race automobile. Moreover, the DOGE neighborhood organized a fundraiser to offer service canines to particular wants kids in September 2015. The Dogecoin Basis additionally raised $50,000 to construct two wells in Kenya, when the African nation was affected by a extreme drought and multi-year water disaster.
Due to its extremely approachable premise and philanthropic efforts, DOGE has grown in reputation as a folks’s cryptocurrency. These efforts are largely in keeping with what co-founder Billy Markus noticed because the coin’s final function.
“Pleasure, kindness, studying, giving, empathy, enjoyable, neighborhood, inspiration, creativity, generosity, silliness, absurdity. All these issues are what make dogecoin worthwhile to me. If the neighborhood embodies this stuff, that’s True Worth,” Markus mentioned.
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