How can a meme be worth 600 Million Dollars? Dogecoin The living meme

in #cryptocurrency4 years ago

My Thoughts About Dogecoin.

I have always wondered how something that was made 'for the lulz' ever managed to be worth 600 Million in the Crypto market, it's quite funny to me how something that was born from a meme can have a value of half a billion dollars. in this article, I will talk a bit about Dogecoin.

The Beginning

Dogecoin had it's origin in 2013 when Jackson Palmer bought the domain name Dogecoin.com. He originally just wanted to upload some text and a big doge meme logo, however, A guy named Billy Markus contacted Palmer and asked him if he wanted to work together to create the crypto Dogecoin. They agreed and Billy went to work making dogecoin basing it on the already existing crypto at the time called Luckycoin.

How can Dogecoin be worth so much?

This is the question that's hard to answer, I believe Dogecoin gained a huge follower base because of the Meme and the way people heard about it. I personally heard about Doge before I heard about Bitcoin, and it seems like the community behind dogecoin have only gone upwards and continued the growth of the crypto. even the founder Jackson Palmer have multiple times said that he does not understand how this coin can be worth as much as it is in the market.

I have a lot of faith in the Dogecoin Core development team to keep the software stable and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn't released a software update in over 2 years has a $1B+ market cap.
-Jackson Palmer 2015.

What do you think?

I would really like to know everybody's thoughts about these type of coins. Dogecoin is, in my opinion, a meme that evolved into something real, at this point, there is no denying that dogecoin is worth something today, it's on almost every single exchange and it was one of the currencies that have introduced a lot of people to crypto.

please comment below!

Sort:  

I think a lot of it has to do with the fact that their is so many shitcoins and scamcoins being created each and everyday, which now makes Dogecoin look like a grade A coin.

this is also true XD

sorry for the spelling mistakes, been quite busy today and i did not have the time to double/triple check :(

You got a 9.93% upvote from @t50 courtesy of @blem!
95% of all liquid income goes to the people who invest by delegating to the bot.
5% goes to @madstacks for his curation efforts with #upfundme.


To use this service send a minimum of 0.010 SBD or STEEM to @t50 with the post you want upvoted as the memo.
For a limited time top bidder will get 15+ additional upvotes!
Low Minimum Bids!
Increase Your Rep!
Draw Attention To your Post.
Earn Passive Income By Delegating SP to the Bot.
Overbid Protection
Voting processed every 2.4h (2,880 blocks).
@t50 follows all followers!


If you do not want to receive upvotes from @t50 you can ask to be blacklisted by replying to this comment.

You got a 23.60% upvote from @dailyupvotes courtesy of @darkdrake!

Please upvote this comment to support the service.

Coin Marketplace

STEEM 0.34
TRX 0.06
JST 0.046
BTC 38084.15
ETH 2763.47
USDT 1.00
SBD 4.34