Dogecoin has yet again snatched headlines news after reaching new record breaking values of the currency. The project which probably started as a joke many years back is now becoming one of the more familiar cryptocurrencies. Recognized by famous funny Shiba Inu (dog) logo, this Crypto grew to its record breaking high price after Space X founder Elon Musk tweeted, “Who let the Doge out.” This was the second time in a short span of time where Musk tweeted about Dogecoin on his Twitter handle that led to its wide spread among other cryptocurrencies that are available in the market. The Dogecoin digital currency is in a list of one of the many alternatives to Bitcoin.
Back in 2013 a project stared out simply as a joke; Dogecoin has always been one of the less popular cryptocurrency since the beginning as compared to Bitcoin or Ethereum. This particular crypto was developed by IBM computer engineer Billy Markus & Adobe engineer Jackson Palmer as a new decentralized crypto for peer to peer trades.
What catches people eyes about Dogecoin is its unique logo which seems to have a Japanese dog breed Shiba Inu as the symbol for this particular cryptocurrency. This caught public’s attention as the “Doge” meme started becoming more and more common in the internet. Therefore, this peculiar branding gave the Dogecoin a significant peculiarity among other cryptocurrencies.
However Dogecoin didn’t become colossal success like Bitcoin but it did able to build a quick emerging community of fans. Nevertheless, Doge made a 300% jump in its value just after 72 hrs. of its original introduction ($0.00026 to $0.00095).
Similar to other cryptocurrencies like Litecoin, Dogecoin uses password based scripts technology which makes it different from Bitcoin that uses SHA-256 encryption.