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DogeCoin and the Crypto Explosion

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Updated: 07/2021

DogeCoin, Nasdaq:(DOGE) is a coin that originally started off as a joke for all intents and purposes. It’s known as the classic meme coin, or a comical play on Bitcoin, one of the major predecessors. Named after the Japanese dog Shiba Inu, this coin has taken investors and crypto newbies by surprise. It’s definitely risen up the ranks from an underdog “no pun intended” to one of the top mentioned coins today spawning millionaires and gaining a self-proclaimed “Dogefather” Elon Musk.

A Saga To Remember

Eight years ago in 2013 two software engineers Billy Markus who goes by “Shibetoshi Nakamoto”, a play on Bitcoin’s founder, and Jackson Palmer just wanted to snuff out the competition. So they put their heads together and using protocol from Litecoin and Luckycoin, eventually, DogeCoin was born.

Within two weeks of the first dogecoin brought to market, the value soared over 300% then steadily increased in popularity partially aided by China’s ban on bitcoin investing. The coin’s value continued to rise and fall, much like the stock market over the years, even weathering thefts and scandals. Earlier this month the coin reached its highest peak yet at a valuation of $0.74 following a rise of over 800% shortly before its infamous SNL debut.

Just because you didn’t join ’em doesn’t mean you can’t beat ’em…

Image Credit: Crypto.com

Crypto…what?

Cryptocurrency is a new peer-to-peer digital currency derived from blockchain technology. The founder, Satoshi Nakamoto created the technology and the buying/selling(peer ) network a decade and a half ago. The infamous Japanese engineer with an aura of mystery surrounding him designed the cryptocurrency process which mines bits of electricity. These mined bits or blocks create timestamps and hashes that have individual values, hence a bitcoin.

An Explosion of Wealth

Since the first crypto coin gained popularity around the world it’s created a class of millionaires rocketing people to financial freedom. The Winklevoss twins, Co-CEO of investment firms. Changpeng Zhao and Brian Armstrong are just a few in the past three years. The currency which started as less than one penny in value has exploded growth to hit peaks of $50,722.72.

Currency Types

Just like regular coins have different denominations, cryptocurrencies have different types and denominations as well. Although, there are currently 7,800 coins that exist today, here are some of the most popular.

Bitcoin- Created by Satoshi Nakamoto and worth $39752.36 today

Altcoin- A family of bitcoin alternatives like Dogecoin, Bitcoin Cash, and Cardano

Litecoin- A coin identical to bitcoin which sells for $139.69 currently

Open Your Wallets

Long gone are the days when wallets were just for cash, driver’s licenses, and credit cards. Now wallets have become digitized. Cryptocurrency wallets which are here to stay, have become the new digital coin destination. These electronic storehouses allow you not only to trade coins at a whim but also collect, sell, buy and store as many coins as you please.

The following are rated for safety and ease of use:

Nano Ledger

Coinbase

Robinhood Crypto Wallet

Trezor

Metamask

Regardless of where you are on your cryptocurrency or dogecoin journey, this form of tender isn’t going anywhere for the foreseeable future. It also may very well change your life. Not only can you buy or sell it on exchanges or wallets. But you can also make everyday purchases with your Dogecoin and Bitcoin–or receive your paycheck. Companies like SpaceX, Pizza Hut, Taco Bell, and Fap accept them for payment. An added bonus working for techs like GMO Group, Ethlance, or freelancing on Reddit may add a boost to your crypto fortune.

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