Jackson Palmer and Billy Markus founded Dogecoin. The two co-found had established themselves in the tech sector before coming together to actualize their idea. Markus worked as a software engineer at IBM and Palmer as one of Adobe’s programmers. At first, Dogecoin’s creation was more like a joke before it heated into the crypto market’s limelight.
Here’s more insight into the progression of Dogecoin over the years.
Dogecoin’s developers took its network live on December 6th, 2013. Unexpectedly, the Reddit community showed slight interest in the coin. People used it to send tips in the form of digital coins. The garnered attention gave Dogecoin more than a million visitors from the day of its launch.
December 19th, 2013, marked the coin’s significant start of long-haul success. The value of Dogecoin skied to almost 300% a few days after going into the market. The spark raised eyebrows positively, and many people took an interest in the coin. Consequently, many began to invest in it. Who knew the coin’s positive energy would be short when the value dropped to approximately 80% in 3 days?
Another nightmare came for Dogecoin when hackers targeted and accessed its native digital wallet, Dogewallet. The company lost millions of coins, all unrecovered from the cyber attackers. A hack review revealed that the hacker changed the system’s options for sending and receiving Dogecoins. He was then able to direct the coins to an unknown static address.
The many losses and unfortunate turnouts could have been the end for Dogecoin. However, it still stood a chance to differentiate itself from other digital coins. Its developers and a great community began the “SaveDogemas” campaign donation project to recover the lost coins. The initiative was a success as enough money was raised to cover the loss.
Following Dogecoin’s successful events, the community sponsored another fundraiser in 2014. Enough money was raised to donate $25,000 to the Jamaican bobsled team. Several other rallies followed, including a successful clean water donation to Kenya and training dogs to help autistic kids.
2014 saw Dogecoin listing on the popular exchange, Moolah, handled by a Reddit user named Alex Green. The step made the coin more credible and expanded its network’s liquidity. Four years down, Dogecoin’s value surged to an all-time high of $0.017 per coin. Many altcoins had a breakthrough at that time, thus enjoying major significant gains. Dogecoin had another major spike in July 2020 when its value rose from TikTok users’ campaigns.
Dogecoin is available on several exchanges where its available to buy Dogecoin with Paypal. You can find the ideal platform depending on its popularity in your country. Most of them offer an excellent cashback discount percentage on their trading fees. Regardless of the exchange you choose, all Dogecoin investments bear significant risks like other crypto coins. It is because cryptocurrency assets are not well regulated in most regions. You may lose capital or gain considerably on brighter days.