Dogecoin is an altcoin cryptocurrency based on the popular Doge meme. It was founded in 2013 and is one of the more colorful currencies in the cryptocurrency spectrum.
Origin of dog keratin and its relationship with Reddit, twitch, and TikTok
Dogecoin was founded by Billy Marcus and Jackson Palmer in 2013. It was originally a “joke currency” based on “Doge” memes characterized by Shina INU dogs.
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0.0024 Doge /1h
0.00006387/2min； 0.00015969/5min； 0.00031939/10min
0.00006354/2min； 0.00015886/5min； 0.00031773/10min
Dogecoin 143329 satoshi/2min; 20 claims/day
Each time 0.1 Doge to 0.0001 Doge, unlimited times
0.00006366/2min； 0.00015915/5min； 0.00031831/10min
Claim once an hour, the amount is random
Dogecoin has no time and frequency limit. The amount of claim 0.00160668 for the first time will increase with the increase of claim times.
Dogecoin ” 0.000500 DOGE/0 min.1000claims/day”
No limit on time and times, 0.00001 for each time
0.0005 USD/6min; 40 claims/day
2MDG/time； 100 times/day
Automatic claim: there are 80 claims before the closing time of faucet every day, and the amount is random
The idea behind dogecoin is to create a fun and easy cryptocurrency that can reach a large population while educating people about cryptocurrency.
It has gained the attention of a large community on social media (mainly reddit) and has been used as an online tip form for sites such as reddit and twitch.
Dogecoin was hacked in 2013 after the collapse of bitcoin and millions of coins were stolen, making dogecoin the most talked about altcoin on twitter. In 2015, dogecoin’s trading volume once exceeded bitcoin’s, but it was still far below its market value of $13.5 million.
In July 2020, a trend on tiktok made the coin the focus of attention again. A video called on all 800 million tiktok users to invest $25 in dogecoin, raise the price to $1 and “make a fortune.”. The coin’s trading volume soared by 2000% and its daily price rose by 96%. However, this pump did not last long, followed by a large-scale sell-off, in which trading volume reached a peak of $1.2 billion.
Why is the price of dogecoin rising?
Since November last year, the value of cryptocurrency has been on the rise, with bitcoin reaching a high of $41940 each.
As the price of bitcoin rises, the value of other cryptocurrencies usually soars, too, because investors who fear they have missed the opportunity will look for other ways to cash out.
The recent short selling of Gamestop may also have played a role in the price rise of dogecoin, boosting amateur investors’ interest in trading and investing.
However, the soaring value of dogecoin can be largely attributed to the social media activities of a few celebrities. On February 4, after Elon Musk tweeted that “dogecoin is the password of the people,” the price of dogecoin rose 50%.
Since then, Gene Simmons, the lead singer of kiss, has declared himself the “God of dogecoin” and encouraged people to “hodl” (or hold cryptocurrency), while Snoop Dogg, the American rapper, has published an editorial version of the cover art with the image of Doge on his face.
The social media frenzy caused by these three people made the price of dogecoin soar again last night. The unofficial goal is to push the value of cryptocurrency up to $1 per coin, which would mean a further 1230% increase in its current position.