Dogecoin is a cryptocurrency that is currently seeing good gains in the market. It started in 2013 as a joke, and it was meant to pay a satirical homage to bitcoin at that time. However, it has come a long way since then and has garnered support from many tech giants in recent years. Investors have made a fortune with this cryptocurrency as it has increased many folds in value.
It started as a joke
It is surprising to note that this cryptocurrency was named after an internet meme that went viral in 2013. The Shiba Inu dog was the inspiration behind the name. The wrong spelling of dog is intended to be a joke, and the exact way to pronounce this is “dohj coin”. Billy Markus, the co-founder of this cryptocurrency, mentioned this in an interview. However, many people just pronounce it as doggy or dog for the sake of convenience.
Support from tech giants
After getting good support from several tech giants like Elon Musk and other celebrities, the popularity of the cryptocurrency grew by a huge margin. It is not surprising to note that Dogecoin has now become one of the top cryptocurrencies as per market value. Several media publications have confirmed this, and the value of the crypto asset has continued to rise in recent months.
According to sfgate.com, the current market value of Dogecoin is more than $50 billion, which speaks volumes of its popularity. Several celebrities and other brands have promoted the crypto asset through their tweets and other modes. The cryptocurrency can be brought online using a credit card and other payment modes on trading platforms like Robinhood.
Popular trading platforms like Coinbase have allowed investors to trade in Dogecoin. There is a good demand for this cryptocurrency as it has given good profits for the earlier investors.