Just as the virtual currencies Bitcoin and Ethereum have surged in value this week, so has Dogecoin– a cryptocurrency started in 2013 as an internet parody.
- Based on the “Doge” meme and started as a “fun” alternative to Bitcoin, Dogecoin’s value has risen phenomenally this week and now valued at $34 billion.
- The digital token was created in 2013 by software engineers Billy Markus and Jackson Palmer as a faster but “fun” alternative to Bitcoin.
- It was started as a satire on the numerous fraud crypto coins that had sprung up at the time and takes its name and logo from a Shiba Inu meme that was viral several years ago.
- Unlike Bitcoins, whose maximum possible number is fixed at 21 million (a figure that is estimated to be reached by 2040), Dogecoin numbers do not have an upper limit, and there are already more than 100 billion in existence.