What is Dogecoin?

Dogecoin currency

In late 2013, Billy Marcus and Jackson Palmer launched Dogecoin with the aim of mocking the cryptocurrency market, and Palmer used a popular meme at the time on social media as a trademark for this currency’s logo. He intentionally showed the misspelled word “doge” in describing a Shiba dog. Despite its “strange” origins, Dogecoin was able to take a place on the list of digital currencies with the highest value on the market.

The reason for the popularity of Dogecoin is due to the blogs of Elon Musk, as the CEO of Tesla is considered its first supporter and who described Dogecoin as his favorite digital currency. As a result of some Reddit users’ decision to pay its value “to the moon,” its value increased by 600% from 2021. Thus, a promising future can be predicted for Dogecoin.