Dogecoin, An alternative to Bitcoin?

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  • Just as virtual currencies, Bitcoin and Ethereum have surged in value, so has Dogecoin-A Cryptocurrency started in 2013 as an internet parody. 

  • Based on the "Doge" meme and started as a "fun" alternative to Bitcoin, Dogecoin value has risen phenomenally over the past few weeks. 

  • Dogecoin, rallied roughly 180%  Friday, reaching the market value of more than $48 billion.





What is Dogecoin?

The digital token was created in 2013 by software engineers Billy Markus and Jackson Palmer as a faster but "fun" alternative to Bitcoin. It was started as a satire on the numerous fraud crypto coins that had sprung up at a time, and takes its name and logo from a Shiba Inu meme that was viral several years ago.

Dogecoin numbers do not have an upper limit, and there are already more than 100 billion in existence.




Dogecoin Rise.

The main reason believed to be behind Dogecoin's surge is  the same week that has propelled the value of Bitcoin and Ethereum. Coinbase's market cap briefly hit $100 billion after it went public on Wednesday, and the value of Bitcoin and Ethereum touched $64,000 and $2,500, respectively. Dogecoin is said to be a part of this frenzy

  • Musk had once changed his Twitter bio to "Former CEO of Dogecoin."

  • Other Celebrities, including rapper Snoop Dogg and rock musician Gene Simmons, have also promoted it on social media.


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