You guessed it, today’s review is of the infamous Dogecoin.
Let’s dig in..
Dogecoin (ticker: DOGE)
High-Tier Shitcoin (lol)
Wtf is this shit?
We’ve written about many coins, both well-known and totally unknown. Until today, no coin has been more well known than THE Dogecoin. If someone searches ‘Dogecoin’ on our site and we have no results, we will have brought shame to our families. So...here it is!
Dogecoin, based off of Litecoin was introduced back in 2013 by Jackson Palmer. It's mascot is the Shiba Inu dog, which turned into a meme in 2010 after a Japanese Kindergarten teacher posted a picture of her dog.
Palmer is not active on Dogecoin and has noted that the popularity and massive market cap of the meme coin is an indicator of the frothiness of the market. What a great word, frothiness...
The coin, while a joke, has a loyal community and has served to be quite profitable for many. Generally ranging in the top 50 market cap, Dogecoin price action has its dips and rises for traders to ride the waves of. Aaron has ridden the DOGE wave over a few cycles now.
Each block reward consists of 10,000 DOGE, forever...meaning there is no limit to how many Doge can exist. DOGE FOR ALL!!
Since it is based on Litecoin, it also uses Scrypt as the consensus algorithm for mining.
Amongst other marketing gimmicks, in 2014, the community raised around $55,000 to have Dogecoin represented on Josh Wise’s NASCAR.
So...that’s Dogecoin...a meme, a joke, but a serious piece of history in the crypto timeline.
Who tf is behind this shit?
His name is Jackson Palmer, you can google him, but he is a developer and crypto enthusiast. :) Considering Dogecoin is a fun investment, no need to go deep or dox him. He’s always been rational in his interviews.
All in all, high-tier shitcoin due 100% to the community. Let’s see for how many years it can stay in the spotlight.
Hope you learned some shit.
- Mike and Aaron