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It’s Started as a Joke – Dogecoin, Explained.

Let’s talk about Dogecoin. If you don’t know what that is, Dogecoin started as a joke.

What is Dogecoin?

Software engineers Jackson Palmer and Billy Marcus were trying to make fun of crypto and other alternative coins. They basically turned the meme of a funny face dog, Doge, into a digital currency. The joke quickly became serious when people started to use the meme coin practically. It turns out that the large supply combined with the low price caused it to blow up on social media.

Dogecoin and crypto

Dogecoin today is faster than other blockchains. Since there’s no cap to the supply, the coin can inflate infinitely. Right now, Dogecoin trades for about four cents, but supporters think they can get the value to $1. The funny thing is that the co-founder/creator doesn’t understand the current movement. In fact, he told Reddit, “I don’t currently own any Dogecoin except what has been tipped to me recently.” He sold it all back in 2015 after being laid off. Ouch!

The next big thing?

So, now people are talking about Dogecoin going to $1. That would make its market cap larger than real companies that provide real services to millions of people: Boeing, Starbucks, American Express and IBM. Does Dogecoin deserve that? Well, as it turns out, Elon Musk and Mark Cuban both seem to think it does. But what do you think? Right now, it’s only worth about four cents. 

Will you take the chance with your money? Let us know in the comments below. And of course, don’t forget to follow us at bold TV across all social media platforms. Have a great day!

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