Dogekin started as a joke cryptocurrency but now has a market capitalization of $ 7 billion and a huge global following. How did it all happen?
Dogecoin was a Parody cryptocurrency Created in late 2013 by Adobe Product Marketing Manager Jackson Palmer and Software Engineer Billy MarcusAs ridiculous as possible“And it was centered around the popular internet meme of the Japanese Shiva Inu” Doje “which says irrational phrases like” many wow “and” so tired “.
The total supply of 100 billion coins was a “decision of concern” and the co-founder was “Kara”. [Dogecoin]হিসাবে Unwanted as cryptocurrency so that it [didn’t] Get serious. “Finally, though, the promotion limit was removed for crypto tokens and discouragement. hodl’ing.
Dodgecoin was made from a lucky coin – a fork in a bitcoin, which is a fork in a bitcoin – because the lucky coin was random. Block rewards A schedule where miners can get zero or potentially a few thousand free coins to build new blocks. Palmer and Marcus implemented this feature in Dozekin, hoping to randomly annoy dose minors and prevent them from using the token as a long-term payment solution. Exactly one month after the launch of the project, of course, the official dozekin Website More than a million visits were made and a significant following was quickly collected.
In March 2014, the schedule for the block awards was fixed Changed As the number of users continues to grow significantly, Bitcoin and most other cryptocurrencies are close to a certain level to make it more feasible.
Dozecoin did not take himself seriously
Dogekin officially went live on December 6, 2013 and was an instant hit with the community. Not only was it a ridiculous cryptocurrency that could be easily mined and bought, but it was also a welcome breath of fresh air for those who just wanted to play around with the cryptocurrency freely.
Within 2 weeks, the R / Dogekin Reddit channel has more than 19,000 users and the price of Dage has spread 300%, although China has Prohibition At the time of payment companies from dealing with Bitcoin
On December 25, the community was rocked by its first big hack. The malicious attacker has been dubbed “Dodgecoin Christmas Hack” Spoken A third-party DozeQuin wallet supplier – split into DozeWallet and stole 11 million Dodges (worth about 12 12,000 at the time). According to the official Feedback From DezWallet members, “The attack originated with hackers gaining access to our file system and modifying the send / receive page to a fixed address.”
A community-led effort to compensate hack victims. “SaveDogmasThe attack began two days later. Despite being created just a few weeks ago, the “Shibis” community – as they know it – was pulled together and paid 15 million dojis to SaveDogmas. Wallet. This law of generosity will become a key defining feature of the Dogecoin community next year.
Real utility and caring community
In 2014, the Dezcoin community was keen to prove meme-based cryptocurrencies, actually did real-world utilities, and began raising funds through Days grants to help with a wide range of sports and charitable causes. Saw this community raise 30 30,000 in a few hours to help send The Bobled team of Jamaica In Sochi, Russia for the 2014 Winter Olympics. The story was featured in several mainstream newsletters, including Business Insider, The Washington Post, and The Guardian, and the dog-themed crypto project helped spread to other parts of the world. Days in mid-January, daily Transactions The volume has briefly exceeded Bitcoin And every other cryptocurrency (dollar equivalent). Another community-led initiative called “Dodge 4 Kids” was launched in February and raised $ 30,000 for the 4Paws for Ability charity that provides service dogs for children with special needs.
That month, there was an article in the Washington Post Share Shiv Keswan, an Indian lugar, described on the Dogecoin Reddit channel that after his country was suspended by the International Olympic Committee for corruption, the 2014 Sochi Winter Olympics desperately needed funds to do so. In twenty-four hours, finished , Priced at 7,500 Causeway was given the opportunity to enter the competition by the Reddit community
On March 11, 2014, the Dogkein community contributed 50,000 to a support Charities: Water projects Which creates clean water facilities in Kenya. The generous grant allowed the US-based nonprofit to build two new water wells in the area.
In March 2017, a NASCAR driver named Josh Wise was fighting to secure a sponsorship that would enable him to enter the Talladega Superspeedway race. A Post By appearing on the R / DogCain Reddit channel, it is once again forbidding the community to make the best of their use and become the top sponsor of the knowledge vehicle. A total of do 55,000 was donated to Over Do Million Dogs. The name of the car “# 98 Moonrocket“The infamous Shiva Inu was emblazoned with meme and this is the first time a project has been physically advertised at a sports event.
Also saw the creation of 2014 Dojetipbot, A third-party tipping service that interfaces with Reddit and allows users to send dogecoin Microtransactions to each other to post optimal content. The service was instrumental in encouraging the initial use of Dodge and also in opening up digital tokens to non-crypto users for the first time. By August, DaytipBot became the top tipping service in the crypto industry with over 70,000 Sign-ups
In 2017, however, DodgeTipBot creator, Josh Mohland, Taken to Reddy He went bankrupt, shutting down the service and blaming all the dodges on the platform for cutting operating costs and his own debts.
Celebrity Dogkein supporters
Another major contributor to Dogekun’s global popularity in recent years has been the list of influential celebrity followers and those who often support them for the Shiva Inu-themed cryptocurrency on social media. The list includes Netflix’s Tiger King star Carol Baskin, Co-lead singer kiss Jean Simmons, Former professional body-builder Where is Green?, Former adult movie star Mia Khalifa And American rappers Snoop Dogg And Lil Yati.
Dezekine’s most notable celebrity endorser, but none other than the CEO of Tesla and the richest man in the world, Elon Musk
Kasturi first came into contact with DJ back in September 2018 when he enlisted the help of former DJCain creator Jackson Palmer to fight against Twitter scandal bots that disguised Kasturi to steal people’s crypto. Seven months later, Kasturi tweeted “Days could be my favorite cryptocurrency. Very nice. “A win-win response April Fool’s Day Survey To be the newly elected CEO of the project.
In March 2020, musk was associated with another dose Tweets “Dog rock … they have the best coin” and four months later Share A Dezcoin meme to his 46.9 million Twitter followers with the caption “It’s inevitable.”
Towards the end of 2020, Kasturi continued to tweet about Dodge – causing prices to pump up 25% on December 20th. Post “One word: Doji.” He even jokingly remarked that Dezekin could one day become Mars is the official currency of Mars.
In January 2021, during the frenzy of the Wall Street Bates stock market, which strengthened the financial markets, Dezcoin sent Kasturi. Price A new increase of 800% to a new all-time high after 0.08 Tweets Image of a dog on the cover of a “Dogu” magazine.
So how did Dogekain become so popular? In short, it seems to be the selfless community, the source of the light heart of the project and the real-world utility that was the biggest contributor to Dzekin’s initial success in the crypto market. Over the past few years, however, Dazcoin has truly become a cryptocurrency incarnation for meme culture, driven by the online community and the support of Internet personalities like Elon Musk.