2013 is the year of the most expensive joke in the world... Indeed, it is during this year that the Dogecoin cryptocurrency is born. Just a joke? Not so sure, let me tell you the crazy story of the greatest MEME in history.
Our history begins in 2008. Indeed, it is during this year that the first cryptocurrency is created, Bitcoin. In the following years many copies are inspired by bitcoin as it is available in open source. Many cryptocurrencies take up the protocols of the latter or improve it and create their own project.
And projects will be created a lot, really a lot since more than 1000 cryptocurrency projects are launched. It is in this very turbulent context in 2013 that the Dogecoin will be created. It is actually a challenging cryptocurrency that aims to mock the fact that too many useless cryptocurrency is being launched.
Indeed on Twitter a developer ADOBE Jackson Palmer tweet “I’m investing in the Dogecoin, downright sure it’s the next big thing. '’ No cryptocurrency of this name exists, however, its tweet attracts public attention. The idea makes a lot of noise on some social networks like redit. Jackson is then contacted by Billy Markus developer at IBM who wants to create his own cryptocurrency. Some Internet users then propose to buy the domain name dogecoin.com.
A few days later it was done, and the two men started to work. They retrieve the source code of luckycoin and modify it to create the dogecoin. Doge is therefore not directly derived from the source code of bitcoin however it is very close to it because luckycoin takes over the source code of Litecoin which itself takes over the source code of bitcoin. We can therefore reasonably say that Dogecoin is a variant of Bitcoin.
Dogecoin quickly makes the buzz because unlike many other currencies, it does not take itself seriously. It didn’t take much more to attract a new geek population in search of MEME and lightness. However, the project is functional, it allows purchases and transactions in a totally decentralized and relatively anonymous manner.
Less well known to the general public, the dogecoin will be a great opportunity for a new generation of young traders who face technical limitations in the cryptocurrency world. In 2015, 2016 and 2017, the Dogecoin was indeed used by many as “stablecoin”. Indeed, the crypto market as a whole is undergoing strong variations however the dogecoin is at this time incredibly stable. The currencies backed by the fiat currencies called stablecoin are not yet operational, which imposes a large technical limit on the trader. The dogecoin thus allowed the most daring to make beautiful Trade.
In 2020, the dogecoin explodes and even borders on €1 in 2021. This explosion is not due to any fundamental reality because the dogecoin has not undergone any serious update since its launch in 2013, no team is actively working on its development. Its valuation therefore depends solely on the success of its joke, however it can count on the support of different brands or personality like Elon Musk who use the popularity of this cryptocurrency to talk to the general public in an uninhibited way new tools, blockchain and cryptocurrencies.
