Dogecoin (Dogecoin); A digital currency that was made as a joke; But now with a market value of several tens of billions of dollars, it is seen in the top ranks of the digital currency market, big people like Elon Musk support it and have plans to improve it.

Dogecoin is the third digital currency that started the decentralization trend in the post-internet world.

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An overview of the history of Dogecoin

After the price of Bitcoin increased to $1000 in 2013; The eyes were fixed on this nascent financial market. In the same year, a person named Jackson Palmer, the production manager of the Australian branch of Adobe, in collaboration with Billy Marcus, an IBM software developer, and a person with the pseudonym Shibatoshi Nakamoto released Dogecoin on December 6, 2013.

2 weeks after the release of this currency, its value increased 300 times; But Dogecoin was not created with a specific purpose. For this reason, after a few months passed and this cryptocurrency became more popular, it was announced that Dogecoin will be used as virtual money for charities and to pay bonuses to social network activists.

In 2014, this coin managed to attract 60 million dollars of capital. But in 2015, the situation turned a bit unfavorable when Palmer, who was one of the main founders of this currency, left. In late 2017, Dogecoin’s market capitalization reached over $1 billion.

It should be noted that this year the crypto market entered a price bubble and Dogecoin was no exception to this rule. With the bursting of this bubble in 2018, this beloved currency suffered a heavy price drop along with other popular cryptocurrencies in the market.

If you think that the good days of Dogecoin are over, you are very wrong. In 2019, the crypto market saw a significant growth and Dogecoin started growing along with the market. The golden point for this amazing currency was its listing in reputable market exchanges such as Binance, Coinbase and other exchanges. But the Dogecoin story continued. With Elon Musk endorsing Dogecoin in 2021 and Reddit users working to pump up the currency, Dogecoin literally took flight.

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