Dogecoin.com promotes the currency as the "fun and friendly Internet currency", referring to its origins as a "joke".[9] Software engineers Markus and Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. Dogecoin quickly gained traction, particularly on social platforms like Reddit. Within two weeks of launch, it had established a dedicated blog and forum and its market value reached $8 million, once jumping to become the seventh largest electronic currency in the world.[]$DOGE