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One of the crucial well-known cryptocurrencies stays Dogecoin (CRYPTO: DOGE), a coin began as a joke again in 2013. Through the years, the cryptocurrency has gained a big following, significantly in 2021 when the coin hit all-time highs and have become a trending topic on social media.
This is a have a look at the historical past of Dogecoin and the way a lot fortunate buyers who purchased again in 2013 would have now.
What Occurred: Dogecoin was created in 2013 by Jackson Palmer and Billy Markus. The coin was meant to be a satirical coin to mock Bitcoin (CRYPTO: BTC), however over time has gained help from a loyal group.
Palmer purchased dogecoin.com and related with Markus, who had earlier expertise with altcoins, together with making a coin based mostly on the Bells forex within the Animal Crossing online game. The duo made the coin in only a couple hours, with Markus beforehand saying a lot of the time on improvement was spent altering the font of the coin to Comedian Sans.
The cryptocurrency was based mostly on the long-lasting Doge meme that stars Kabosu, a Shiba Inu dog.
A profile for Dogecoin was created on Bitcointalk.org on Dec. 6, 2013. A subreddit for Dogecoin (r/Dogecoin) was created on Dec. 8, 2013. The coin opened for buying and selling on Dec. 15, 2013.
One of many early use instances for the coin was for use as a tipping bot on Reddit.
The value of Dogecoin went from round $0.0002 to $0.002 in two weeks’ time, marking a big return for early buyers.
The coin noticed an increase in 2017 alongside different altcoins earlier than falling in worth by the tip of 2018.
One of many largest public supporters of Dogecoin through the years has been Tesla CEO Elon Musk. A 2019 Twitter put up that elected Musk because the fictional CEO of Dogecoin noticed the billionaire declare “Dogecoin could be my fav cryptocurrency.”
Musk has tweeted a number of instances about Dogecoin since then and even has a number of of his firms accepting the cryptocurrency as a type of cost. Musk’s acquisition of social media platform Twitter, now often known as X, has led to a number of worth spikes for Dogecoin, with some believing the coin can be built-in into the platform.
In 2021, Dogecoin hit all-time highs, a transfer that would have been helped by an look by Musk on “Saturday Night time Stay.”
One other vocal supporter of Dogecoin through the years has been billionaire and NBA group proprietor Mark Cuban. The billionaire disclosed he owned some Dogecoin and had the Dallas Mavericks settle for the cryptocurrency for merchandise and tickets prior to now.
Retailers and web sites started accepting Dogecoin as a type of cost due to its reputation. Cryptocurrency exchanges akin to Coinbase and eToro added Dogecoin to their platform as a result of buyer demand.
Whereas Dogecoin would not commerce close to its all-time highs set in 2021, many early buyers are nonetheless having fun with robust returns.
Associated Hyperlink: How To Buy Dogecoin (DOGE)
Investing $1,000 in Dogecoin: On Dec. 15, 2013, Dogecoin started buying and selling, in accordance with information from Coinmarketcap.
A have a look at the chart on Coinmarketcap exhibits a worth of $0.0002993 for Dogecoin on Dec. 15, 2013.
An funding of $1,000 may have bought 3,341,129.30 DOGE on the time.
The funding can be value $274,807.88 as we speak, based mostly on a worth of $0.0823 for Dogecoin on the time of writing.
Dogecoin hit an all-time excessive of $0.7376 in Could 2021. The hypothetical $1,000 funding would have been value $2,464,416.97 at the moment.
“A lot Wow” certainly!
Not each cryptocurrency funding will go up in worth, and the hypothetical funding was probably realized by only a few if any.
Learn Subsequent: From Dogecoin Meme To Twitter Icon: 5 Little-Known Things About The 17-Year-Old Crypto Canine Sensation
Picture: Shutterstock
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