A Simple Guide to the Meme Cryptocurrency: Dogecoin
Dogecoin is not one of the many cryptocurrencies that started with a defined structure. It emerged from humble beginnings as a mere meme featuring the Shiba Inu dog with poor grammar; now, it has grown to become one of the most popular virtual currencies ever. It became an internet sensation that left many people confused and intrigued. The meme features the Shiba Inu dog, whose internet personality was characterized by grammatical spelling errors.
After a few months, it went viral and even won the top meme of the year. The cryptocurrency name “Doge” in Dogecoin is coined from the misspelling of the word “dog,” which circulated the internet displaying the dog in several situations expressing a largely funny monologue.
Today, it has graduated from being a meme to a popular cryptocurrency. Many people buy Dogecoin and trade with it on the cryptocurrency market. Its comical origin had a positive effect and was used to create a brand that is now worth millions of dollars. Beyond that, many global figures continue to show their support through tweets and public support.
A popular figure that has driven the growth of Dogecoin is tech billionaire – Elon Musk. His tweets on the microblogging site – Twitter – gave Dogecoin public recognition and are responsible for many people investing.
In this piece, we aim to guide you on Dogecoin by providing an insight into how it began and what it has become today.
Story Behind the Famed Dogecoin
The Dogecoin fuss can be traced back to February 13th, 2010, when a Japanese kindergarten teacher put different photos of her adopted dog Shiba Inu Kabosu in her blog. Out of all the photos, one had her dog staring at the camera with raised eyebrows while glaring with a side view to the camera. That particular photo gave birth to the multitude of memes circulated on the internet.
By December 2013, doge had become popular, and a tech news site published an article that identified Sato Kabosu as the original dog in the doge meme. This further shed the limelight on the doge meme and made it even more popular. Then a topic blog called daily doge was created along with various other internet and social media depictions of doge.
In June, various threads had already emerged with pictures shared of dogs in various outfits. It appeared that being a mega-famous meme wasn’t enough. In the same year, two software engineers called Jackson Palmer, and Billy Marcus came together to create a new cryptocurrency called Dogecoin. Initially, it was meant as a joke to hammer on the various speculations that concerned other cryptocurrencies like Bitcoin and Ethereum. Still, it ended up being a hit after entering the market.
It opened at about $0.00095 per coin; then it skyrocketed at the beginning of 2021 after encouraging tweets from the famous Billionaire Elon Musk. Dogecoin went up over 800% and became valued at $0.07 per coin. The coin’s value has fluctuated over the months and has ended up being not such a bad joke.
How to Buy Dogecoin as a Beginner
To buy Dogecoin, you will have to open an account in any cryptocurrency exchange, where buyers and sellers meet to swap various cryptocurrencies for dollars. The most common cryptocurrency exchanges include Binance, Coinbase, and Kraken. When buying Dogecoin like with other virtual currencies, you must work with a trusted exchange m. You should know the security features in place by the exchange to guarantee the security of transactions.
Dogecoin can also be purchased from beginner-friendly investment apps such as Robinhood, but usually, platforms like these do not sanction the transfer of coins from their platform. Instead, you would have to sell the coin and then buy it again to put in your wallet. Dogecoin is typically available on many crypto exchanges, but not all crypto exchanges have Dogecoin available for purchase.
Is Dogecoin a Good Investment?
Dogecoin is a good investment and should be included in your crypto portfolio. Although the cryptocurrency is very volatile like most others, its evident popularity always makes it an option in the cryptocurrency market for purchase. Due to its popularity and growth, most people tend to invest in it, making the coin grow even more in value. Hence, Dogecoin is a viable choice as a cryptocurrency investment, but you must not ignore its volatility.
What started as a joke has become one of the well-known cryptocurrencies on the market with global acceptance and a huge investor base. As the cryptocurrency tide continues, be sure to get some of the famed Dogecoin.
