What is Dogecoin, the cryptocurrency that outperformed Bitcoin, Ether since Trump's victory
bitcoin climbed to yet another record high. The world's largest cryptocurrency topped $87,000 for the first time on Monday. As of around 3:45 p.m. ET, bitcoin's price stood at $87,083, per CoinDesk, up over 28% in the last week alone.
Dogecoin observed a dramatic surge, rising nearly 45% to $0.4037 in the past 24 hours. This rally adds to its impressive growth of 145% since Donald Trump's victory in the 2024 US presidential election.
So, what is Dogecoin?
Dogecoin (DOGE) is an open-source, peer-to-peer cryptocurrency that began as a playful parody of the crypto market after the rise of Bitcoin. Initially created as a lighthearted joke for the crypto community, it unexpectedly gained widespread popularity and has since become one of the most prominent cryptocurrencies in use today.
Launch of Dogecoin:
Dogecoin was originally created as a joke in late 2013 by Billy Markus and Jackson Palmer. Both Billy and Jackson thought that cryptocurrency was being taken far too seriously and wasn’t much fun. Jackson created the Dogecoin.com website and would have been, for a while, the public face of Dogecoin, while Billy worked as a solo developer on the first 4 releases.
On December 6th, 2013, Dogecoin was launched taking influence from the famous Doge meme: an image of a very adorable Shiba Inu dog with multi-coloured comic sans text that appears as the dog’s “thought bubbles”. This famous meme was based on a 2010 photograph of a Japanese female Shiba Inu dog called Kabosu, who was adopted by Japanese kindergarten teacher
