Facts: In was created in 2013 by a developer and programmer named Jackson Palmer and Billy Markus.
Purpose: It was cryptocurrency created with blockchain technology as a joke. It was meant to be funny and promote laughter for a large demographic of people.
Good: It’s a fun meme crypto, created to be loved by all. It’s growing because of its popularity on social media on platforms like tik toc and reddit. It’s now performing as one of the top 10 cryptos in the market.
Bad: It’s a fun meme crypto… It’s growing because of its popularity on social media. It’s within the top 10 cryptos for now, but what happens when the popularity and demand disappears.
What’s the hype?
The crypto has been popular in the crypto world for years. Elon musk tweeted it 2 years ago, and its tik toc challenge has been around. The social media over the last year has pushed DOGE up 2,270% in gains.
Then on January 31st, 2021, Elon Musk also joined a clubhouse chat group and shared this in regards to his thoughts on the meme crypto when asked.
How caused all of this to start?
All the noise in 2021 started with the noise from the Reddit group (r/wallstreetbets). Redditors in the WSB group started a revolution in the world of Wallstreet. By making history with their GameStop short squeeze strategy. They basically got a large group of people to come together and purchase one stock (GME). Bringing a stock that Wallstreet betted against to the winning circle. Resulting in Wallstreet losing millions and potential billons even. While the average retail investors become legends and millionaires at the same time.
Now there are two different Reddit groups (r/satoshistreetbets ) & (r/dogecoin) both coming together to discuss and push DOGE using the same GME strategy. Everyone saw what GME did to the game, now they are watching Dogecoin to see what happens.