his excitement over the growing currency
and revealed that he has invested. American
singer-songwriter Gene Simmons has also
promoted Dogecoin to his followers, tweeting
slang phrases in crypto like “HODL” and “to the
moon.” He also revealed that he has made a
“six-figure” investment in DOGE. Millionaires,
billionaires, and YouTubers have also joined
the hype train and pledged their allegiance
to the currency in recent months, further
fueling DOGE’s growth. Since the start of 2021,
Dogecoin has experienced a 1,600% jump and
the open-source, peer-to-peer currency is now
a preferred choice. A petition was even set
up to encourage global eCommerce giants
like Amazon to accept the cryptocurrency
alongside other payment methods,
attracting 100,000 signatures.
Billy Markus and Jackson Palmer, previous
alumni of IBM and Adobe respectively, wanted
to combine their love of the internet meme
and cryptocurrency and formed Dogecoin,
with no real expectations of its success or
longevity. Designed on the Litecoin codebase,
Dogecoin offers users an attractive alternative
to Bitcoin, and its initial success could, in part,
be down to its accessibility compared with rival
currencies. What’s particularly interesting about
the currency is that, in the DOGE blockchain,
blocks are created much faster than in Litecoin,
with one coin every 150 seconds. What’s more,
Dogecoin doesn’t limit the number of coins
that can be added to the system, and so its
use and value can endlessly grow, though this
does have some drawbacks. The currency has,
without doubt, been helped by Redditors, with a
subculture around the cryptocurrency growing