In 2013, a meme featuring a picture of a Shiba Inu made the rounds on social media. Words added to the meme gave the dog a voice, using humorous phrases like “Many cute, such wow.” Eventually, internet users traced the fluffy canine to a 2010 blog post, where its owner accidentally misspelled the word dog as “doge.”
While the meme was gaining popularity around the internet, so had been cryptocurrency. That’s where Dogecoin comes in. In December of 2013, programers Billy Markus and Jackson Palmer created the cryptocurrency as a jab at Bitcoin. The official logo and mascot? You guessed it: Doge!
Dogecoin may have started as a joke, but it’s come a long way. Now, it’s turning heads in both the financial world and the general public.
Early adopters of Dogecoin had an opportunity lost on late-comers. Many who bought early did so at prices like $0.00026 per coin. At the time, an investment of $1,000 would have amounted to more than 3,800,000 dogecoins. Today, at a current value of $0.27 per coin, that $1,000 investment would be worth over $1M.
Recently, a 33-year-old from Los Angelos shared how he turned $180,000 into more than a million dollars in only two months.
Despite higher buy-in prices and wild volatility, some are still taking their chances and turning their investments into incredible gains. In the past year alone, Doge has soared upwards by around 11,195%. While some growth is due to celebrity endorsement and high-profile promotion, much comes from its powerful community.
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Source: https://medium.com/forward-in-time/what-outsiders-get-wrong-about-dogecoin-fb71ac5c5c35?source=rss——-8—————–cryptocurrency
