This distinction is reportedly laid claim to by the first “meme coin” as well as the first “dog coin.” Even though it was intended to be amusing, some investors took it quite seriously. The Shiba Inu, as seen in the “doge” meme, serves as both the logo and the name of the cryptocurrency known as Dogecoin. After it was introduced to the public on December 6, 2013, its very own online community emerged almost immediately. By the time May 5, 2021, rolled around, the company’s market value had increased to more than $85 billion. It has been the jersey sponsor for the Watford Football Club up to this point in time.
History of Dogecoin
Dogecoin was first thought of as a “joke” by Billy Markus, a software developer for IBM, and Jackson Palmer, a software engineer for Adobe. They wanted to create a peer-to-peer digital currency that could compete with Bitcoin’s popularity but had broader appeal. They also attempted to distinguish its history from that of other coins whose origins were contested. In the first thirty days after its official launch on December 6, 2013, Dogecoin.com had more than one million separate visitors.
It is generally agreed that Palmer was the one who was responsible for actually carrying out the plan. During that period, he held the position of marketing at the Sydney office of Adobe Systems. Palmer had already registered the domain name Dogecoin.com and added a splash page announcing the cryptocurrency with its logo and some comic sans text. After seeing the website, Markus contacted Palmertoo begin the process of developing the currency. During the process of creating the protocol for Dogecoin, Markus drew inspiration from previously produced script-based cryptocurrencies such as Lucky coin and Litecoin.
Currency supply of Dogecoin
At the time, Dogecoin’s 100-billion-coin manufacturing ceiling was larger than other digital currencies. In 2015, the 100 billionth Dogecoin was mined, and each year after then, 5 billion more have been added. Even though there is no theoretical maximum limit for Dogecoin production, the total quantity released will double in 20 years. The maximum amount of Dogecoins isn’t specified. Dogecoin developer Jackson Palmer said in February 2014 that the limit would be raised to lower its inflation rate.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 3.5 percent to $22,846.2. Its market value stood at $440.2 billion. The trade volume was at nearly $27.02 billion.“Bitcoin was seen changing hands at $22,800. BTC is down by three after reaching a high on Sunday of $24,000. Support for BTC is now $22,700, and resistance is $23,000,” said Edul Patel, CEO and Co-Founder of Mudrex.Ethereum | The second largest virtual currency, Ethererum or Ether also fell 3.9 percent to $1,574.2 at the last count, with a market capitalisation of nearly $192 billion. The trade volume of Ethereum was almost $9.1 billion in the last 24 hours.Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.7 percent to $0.1. Its market value stood at $11.9 billion. The trade volume was at nearly $837.4 billion.Solana | Solana slumped six percent to $24.2 with a market capitalisation of $8.9 billion. The trade volume of Solana was $1 billion in the last 24 hours.Shiba Inu | Shiba Inu fell 2.2 percent with a market capitalisation of almost $6.4 billion. The trade volume was almost $306.8 million in the last 24 hours.Polygon | Polygon fell 5.6 percent with a market capitalisation of $9.5 billion. The trade volume was $588.7 million in the last 24 hours.Patel suggested that volatility may persist in the market ahead of the Fed meeting and the Indian Union Budget release.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, rose 1.7 percent to $23,637.6. Its market value stood at $455.3 billion. The trade volume was at $25.7 billion.
Ethereum | The second largest virtual currency, Ethererum or Ether, rose 2.8 percent to $1,636.2 with a market capitalisation of $200 billion. The trade volume of Ethereum was $8 billion in the last 24 hours.
Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.2 percent to $0.1. Its market value stood at $11.8 billion. The trade volume was at $444.4 million.Solana | Solana rose 5.5 percent to $25.4 with a market capitalisation of $9.4 billion. The trade volume of Solana was $1.1 billion in the last 24 hours.Shiba Inu | Shiba Inu fell 0.1 percent with a market capitalisation of $6.6 billion. The trade volume was $218.3 million in the last 24 hours.Polygon | Polygon rose 1.8 percent to $1.2 with a market capitalisation of $10.1 billion. The trade volume was $595.5 million in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 1.7 percent to $22,760.1. Its market value stood at $438.2 billion. The trade volume was at $26.3 billion. The token has jumped over seven percent in the last seven days.
Ethereum | The second largest virtual currency, Ethererum or Ether, fell 2.9 percent to $1,567.1 with a market capitalisation of $191.9 billion. The trade volume of Ethereum was $8.6 billion in the last 24 hours. The token has gained 0.9 percent in the last seven days.
Dogecoin | Meme-based virtual currency, Dogecoin, fell 2.5 percent on Friday. Its market value stood at $11.2 billion. The trade volume was at $447.9 million.Solana | Solana fell 4.3 percent to $23.7 with a market capitalisation of $8.8 billion. The trade volume of Solana was $809.3 million in the last 24 hours.Shiba Inu | Shiba Inu fell 2.3 percent with a market capitalisation of $6.3 billion. The trade volume was $229.5 million in the last 24 hours.Polygon | Polygon jumped 8.1 percent to $1.1 with a market capitalisation of $9.4 billion. The trade volume was $1.1 billion in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 2.3 percent to $22,561.9. Its market value stood at $434.5 billion. The trade volume was at $27.5 billion.“Bitcoin is currently trading at the $22,500 level. The support now is at $22,450, and the resistance is at $22,600,” said Edul Patel, CEO and Co-Founder of Mudrex.Ethereum | The second largest virtual currency, Ethererum or Ether, slumped six percent to $1,540.3 with a market capitalisation of $188.5 billion. The trade volume of Ethereum was $9.1 billion in the last 24 hours.On Ethereum, Patel said, “Ethereum also slowed down and is trading at the $1,500 level. A potential breakout above the $1,600 level can increase the bulls’ confidence.”Dogecoin | Meme-based virtual currency, Dogecoin, slipped 6.6 percent to $0.1. Its market value stood at $11.1 billion. The trade volume was at $581.8 million.Solana | Solana fell 0.5 percent to $12.1 with a market capitalisation of $4.4 billion. The trade volume of Solana was $162 million in the last 24 hours.Shiba Inu | Shiba Inu slumped 7.5 percent with a market capitalisation of $6.1 billion. The trade volume was $296.4 million in the last 24 hours.Polygon | Polygon fell 5.2 percent to $0.9 with a market capitalisation of $8.3 billion. The trade volume was $535.9 million in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, rose 1.4 percent to $23,018. Its market value stood at $442.9 billion. The trade volume was at $26.4 billion.“The surge in price could be attributed to BTC whales accumulating and driving up the price. The current support level for Bitcoin is $22,900, and resistance is at $23,375,” Edul Patel, CEO and Co-Founder of Mudrex.Ethereum | The second largest virtual currency, Ethererum or Ether, fell 0.1 percent to $1,634.2 with a market capitalisation of $199.6 billion. The trade volume of Ethereum was $8.2 billion in the last 24 hours.On Ethereum, Patel said, “Ethereum has also been stable above $1,600, with the next potential target for buyers being $1,700.”Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.5 percent on Tuesday. Its market value stood at $11.8 billion. The trade volume was at $647.7 million.Solana | Solana rose 0.7 percent to $24.5 with a market capitalisation of $9 billion. The trade volume of Solana was $839.9 million in the last 24 hours.Shiba Inu | Shiba Inu fell 0.5 percent with a market capitalisation of $6.6 billion. The trade volume was $252.4 million in the last 24 hours.Polygon | Polygon fell 0.4 percent to $1 with a market capitalisation of $8.7 billion. The trade volume was $395.6 million in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 0.2 percent to $22,747.6. Its market value stood at $438.2 billion. The trade volume was at $24.2 billion. The token has climbed 7.4 percent in the last seven days.“Bitcoin climbed above the $22,900 level over the weekend, the highest in the past five months, as bullish sentiment returned to the market. Support is now at $22,700, and resistance is at $22,900. If BTC can maintain its momentum, it may reach $23,000,” said Edul Patel, CEO and Co-Founder of Mudrex.Patel added, “Since the past few days, BTC has been performing well and showing signs of recovery. This sentiment has sent the total crypto market cap above the $1 trillion mark. This increase in prices is likely to keep bulls active in the market, potentially pushing prices higher.”Ethereum | The second largest virtual currency, Ethererum or Ether, rose almost 1.5 percent to nearly $1,640 with a market capitalisation of $200.6 billion. The trade volume of Ethereum was $7.3 billion in the last 24 hours. The token has jumped 4.6 percent in one week.Dogecoin | Meme-based virtual currency, Dogecoin, jumped 7.3 percent on Monday. Its market value stood at $12 billion. The trade volume was at $841.9 million.Solana | Solana fell 0.5 percent to $24.8 with a market capitalisation of $9.2 billion. The trade volume of Solana was $1 billion in the last 24 hours.Shiba Inu | Shiba Inu fell 1.5 percent with a market capitalisation of $6.7 billion. The trade volume was $389.5 million in the last 24 hours.Polygon | Polygon fell one percent to $0.9 with a market capitalisation of $8 billion. The trade volume was $389.5 billion in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, rose 1.9 percent trading above the $21,000 mark again. At the last count, the token was trading at $21,107.9. Its market value stood at $406.6 billion. The trade volume was at $21 billion.“Bitcoin regained its floor above $21,000 after dipping to $20,000 the previous day. If the daily bar closes above the current value, the breakout may soon lead to a growth of US$21,400. However, if BTC falls below the current level, it would confirm sellers’ power, and the correction may continue to the 19,500-$20,000 zone,” said Edul Patel, CEO and Co-Founder of Mudrex.Ethereum | The second largest virtual currency, Ethererum or Ether, jumped 2.5 percent to $1,555 with a market capitalisation of $190.3 billion. The trade volume of Ethereum was $6.3 billion in the last 24 hours.On Ethereum, Patel said, “Ethereum, the second-largest cryptocurrency, also saw a two percent increase on Thursday. The support level for Ethereum is currently at $1,440, with resistance at $1,600.”Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.4 percent to $0.1. Its market value stood at almost $10.8 billion. The trade volume was at $326.9 million.Solana | Solana rose 0.8 percent to $21.4 with a market capitalisation of $8 billion. The trade volume of Solana was $779.7 million in the last 24 hours.Shiba Inu | Shiba Inu jumped 4.3 percent with a market capitalisation of nearly $6.4 billion. The trade volume was $371.8 million in the last 24 hours.Polygon | Polygon rose 1.2 percent to $0.9 with a market capitalisation of $8.4 billion. The trade volume was $322.5 million in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 2.3 percent to $20,742.1. Its market value stood at $399.9 billion. The trade volume was at nearly $30.1 billion.“Bitcoin briefly rose above its resistance at $21,480 but could not maintain the gains, potentially attracting profit-taking by short-term traders. However, if BTC can make it above the $21,400 level, it might attract buyers and push the price above the next level,” said Edul Patel, CEO and Co-Founder of Mudrex.Ethereum | The second largest virtual currency, Ethererum or Ether, fell 3.5 percent to $1,523.9 with a market capitalisation of $186.2 billion. The trade volume of Ethereum was $10.4 billion in the last 24 hours.On Ethereum, Patel said, “Ethereum managed to break above its resistance at $1,600 but could not achieve a close above it. The immediate support of ETH now lies at $1,490, while the resistance would lie at $1,550.”Dogecoin | Meme-based virtual currency, Dogecoin, slumped seven percent on Thursday. Its market value stood at $10.7 billion. The trade volume was at $1.1 billion.Shiba Inu | Shiba Inu slipped 7.8 percent with a market capitalisation of $6.1 billion. The trade volume was $1.2 million in the last 24 hours.Solana | Solana fell 7.7 percent to $21.2 with a market capitalisation of $7.8 billion. The trade volume of Solana was $1.4 billion in the last 24 hours.Polygon | Polygon dropped 6.3 percent with a market capitalisation of $8.2 billion. The trade volume was nearly $548.9 million in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, rose 1.1 percent to $21,322.1. Its market value stood at $409 billion. The trade volume was at nearly $24 billion.
Ethereum | The second largest virtual currency, Ethererum or Ether increased 1.6 percent at $1,587.2 at the last count, with a market capitalisation of $193 billion. The trade volume of Ethereum was almost $7.1 billion in the last 24 hours.
Dogecoin | Meme-based virtual currency, Dogecoin, jumped 5.7 percent to $0.1. Its market value stood at $8.8 billion. The trade volume was at nearly $397.3 million.Solana | Solana fell 0.3 percent to $23.1 with a market capitalisation of $8.6 billion. The trade volume of Solana was $922.2 million in the last 24 hours.Shiba Inu | Shiba Inu surged 22.2 percent with a market capitalisation of almost $6.9 billion. The trade volume was almost $540.2 million in the last 24 hours.Polygon | Polygon traded flat $1 with a market capitalisation of $8.8 billion. The trade volume was $396.4 million in the last 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 0.6 percent to $21,084.7. Its market value stood at $404.7 billion. The trade volume was at nearly $26 billion. The token is up by 27 percent in the last one year. It is still 50 percent in the negative side, but for the year 2023 there is buying that has come back.“Many believe the current momentum is likely to be a bear market rally and not a long-term trend. There have been warnings that Bitcoin could still reach new lows of $12,000, and analysts are closely watching for signs of a downturn. However, so far, this has not occurred. The weekly close is on par with the levels seen before the collapse of the FTX exchange. Bitcoin is trading above $20,000, reaching new local highs of $21,411 overnight,” said Edul Patel, CEO and Co-Founder of Mudrex.“Volatility remains high, with significant price movements of several hundred dollars frequently occurring on hourly timeframes. Analysts are monitoring key levels to hold in case of a broader retracement. The 21-week moving average shows $18,600 as a potential support level,” Patel added.Ethereum | The second largest virtual currency, Ethererum or Ether, fell 0.9 percent to $1,559.5 with a market capitalisation of $190.3 billion. The trade volume of Ethereum was $8.4 billion in the last 24 hours. Ether is up 31 percent this year. Dogecoin | Meme-based virtual currency, Dogecoin, fell 4.3 percent on Tuesday. Its market value stood at nearly $11 billion. The trade volume was at $505.1 million. Dogecoin is up 19 percent this year. Solana | Solana fell 1.5 percent to $23.2 with a market capitalisation of $8.6 billion. The trade volume of Solana was $1.5 billion in the last 24 hours.Shiba Inu | Shiba Inu fell nearly three percent with a market capitalisation of $5.8 billion. The trade volume was $340.5 million in the last 24 hours. Shiba Inu is up 29 percent this year. Polygon | Polygon fell 1.3 percent to $1 with a market capitalisation of $8.8 billion. The trade volume was $640.4 billion in the last 24 hours.
