Five years after the release of Bitcoin, two software engineers created their own cryptocurrency, which began as a joke, but soon grew to become a legitimate investment option. Thus, in 2013, Dogecoin entered the crypto market. Today, it is one of the most sought-after cryptocurrencies, which can be used to purchase plenty of goods and services. One of the most popular uses for the meme coin on the internet is wagering Dogecoin at online casinos.
Online casino websites have been becoming ever more popular in the past decade. It seems that in the modern, cyber era, a large percentage of people prefer to stay at home and play their favorite casino games, rather than having to travel to expensive land-based casinos. A hugely revolutionary idea in the world of online casinos is wagering cryptocurrency, rather than fiat money. Among the most popular cryptocurrencies, today is Dogecoin, and you will be surprised to see how many results a quick search for the best Dogecoin casino will give.
Though it has been around since 2013, Dogecoin truly came to prominence in 2021, when it suddenly gained traction. This means that many people do not know about the origin of Dogecoin. So in this article, we will look through the history of the meme coin, and explain how it came to be.
In 2013, Bill Markus and Jackson Palmer created the idea of Dogecoin as a joke, attempting to simultaneously parody and get in on the cryptocurrency bandwagon. The goal of the team was to create a cryptocurrency that could reach a large demographic, and also be so ridiculous as to separate itself from the number of controversies that cryptocurrency was involved with at the time.
The team took the image of “doge” as a mascot for their new idea, and thus Dogecoin came to pass. The website set up by the duo was met with an overwhelmingly positive response, seeing over a million visitors in the first week alone.
The Middle Period
Dogecoin would continue to see success. In the first few days of its existence, the meme coin saw a massive surge in value, close to 300%, with the value of a single unit rising from US$0.00026 to 0.00095 dollars. This surge happened at a time when the overall crypto market was reeling due to China restricting cryptocurrency when it comes to Chinese banks. China continues to have a contentious relationship with cryptocurrency to this day, as they have recently declared all transactions made with digital currency illegal.
The coin has experienced several ups and downs throughout the years, until 2021, when digital currency came to the forefront of popular culture. Let us take a look at some of the reasons for Dogecoin’s surge in popularity.
The 2021 Boom
The precursor to the 2021 surge in popularity came a year prior when the community on the popular entertainment app Tik Tok came up with a trend to try and get the meme coin to $1. This trend was soon picked up by Reddit, and from there the popularity of the digital asset spread to popular culture.
What truly brought Dogecoin to the forefront, however, was its numerous endorsements by a couple of celebrities, including Snoop Dogg, Gene Simmons, and most notably, Elon Musk. Elon Musk has been a passionate, long-time proponent of Bitcoin and other cryptocurrencies, so when he began making allusions to the meme coin, its value saw a huge spike in popularity.
Today, Dogecoin is ranked among the most popular cryptocurrencies and has been revitalized in the mainstream thanks to the vocal support of a few of crypto’s big names, including Ethereum creator, Vitalik Buterin.