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What is Dogecoin all about
Dogecoin, despite actively pursuing status as a joke or meme cryptocurrency, is relatively well established having been created by IBM developer Billy Markus and Adobe data scientist Jackson Palmer in 2013. It was an alternative to Bitcoin, but it never took itself seriously and played into a burgeoning parody of the online cult around cryptocurrencies.
More recently, Dogecoin has been rocketed into the mainstream conversation as cryptocurrency fan Elon Musk has put his full social media weight behind the memecoin. He did this seemingly as a way to cut through the tensions of the cryptocurrency market and tribalism that exists in choosing different digital currencies.
The main driving factor behind its creation was to attract mainstream interest because of its light hearted nature, as Markus once explained. It seems that notion has been fulfilled with Musk, as well as Snoop Dogg, Gene Simmons and a host of other celebrities are all associated with it.
On a technical level, Dogecoin is an open-source cryptocurrency stemming from a fork of the Litecoin codebase while the Dogecoin community has earned a reputation for charitable contributions. It took off as a tipping system on sites like Reddit, where users would send each other small amounts of the coin to reward content creators.
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DOGE Questions & Answers
What is the price of Dogecoin right now?
Current price of Dogecoin is 0.21 EUR.
What was the highest ever price of Dogecoin?
We saw the highest spike in the price of Dogecoin on 2021-05-08, at 0.60 EUR.
Is Dogecoin expected to increase in value in one month time?
Based on our price prediction algorithm we estimate that Dogecoin's cost will reach between €0.17 and €0.28 in 30 days.
How much will Dogecoin cost in three months?
On the basis of our short term prediction we suspect that the cost of Dogecoin will be between €0.17 and €0.29 3 months from now.
What will the Dogecoin price be in half a year?
There is a great deal of difficulty in predicting the long term, but using our short term price prediction we estimate that Dogecoin's price will reach anywhere between €0.17 and €0.47 6 months from now.
Do you know how popular Dogecoin is online?
2184222 individuals took part in discussing Dogecoin online on Reddit in the last 48 hours. Dogecoin's Twitter profile is followed by 2232513 people.
What can I use Dogecoin for?
Dogecoin has mostly been used as a way to tip online content creators and social media posters in recognition for their work. More recently, with its rising price, people have started holding the coin as an investment, and its popularity has led to some smaller merchants accepting the coin as payment.
Why is Dogecoin so popular?
Dogecoin was not created to necessarily solve or improve upon other cryptocurrencies, but rather use the hype of memes and cryptocurrency to become a popular phenomenon. This kept the coin in the minds of enthusiasts, but recently it has broken into the mainstream with more mainstream figures buying in.
Should I hold onto Dogecoin?
While Bitcoin and some other coins are made to accrue value, Dogecoin is designed as an inflationary coin and encourages users to spend it rather than see the value of their coins fall over time if it was simply stored for gains.
Is Dogecoin a real cryptocurrency?
Many people feel that because Dogecoin is based around a meme that it is not a real cryptocurrency. This is not true. The coin has its own blockchain that has its roots in Litecoin as it was forked from that Protocol in 2013.