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Dogecoin: The Hottest New Cryptocurrency

By Sharon Rowe
In Dogecoin
Jan 27th, 2014

A new cryptocurrency that has taken the computer world by storm and is still just two months old the Dogecoin, created by two people who have never met.  Jackson Palmer and Billy Markus, the co-founders, created this currency from a tweet sent by Jackson Palmer about creating a new currency. This has led the pair in an exciting whirl-wind creation of Dogecoin. The current market value is estimated at a staggering $60 million US dollars.

Dogecoin: The Theme

The idea behind the internet coin has been based on the successful internet currency already in circulation, the Bitcoin. But, the owners of Dogecoin didn’t expect the results that they are seeing today, who could have foreseen the explosion that this currency has had? The concept behind this coin is that it is to be more accessible to the everyday user rather than the alternative cryptocurrency. The name creation is different, it is not about the two creators but a totally different look at the underdog idea, but, it is no underdog now! It is ‘a reference on an episode of a popular 1990s internet cartoon series called Homestar Runner. The term “doge” was revived, mashed-up with a quirky photo of a pet Shiba Inu dog and then sprinkled with a few ungrammatical phrases written in the much-maligned comic sans font’ according to The Sunday Morning Herald.

Are they here to stay?

There are many different opinions on the question of the currency staying and the question of the long term use and the security in value of these coins. Are they sustainable in the future? The future for the Dogecoin seems to be at the moment relatively secure, the coin is currently trading more transactions each day than the most talked about digital currency. The established markets for the Bitcoin have noticed this new currency and the desire to get a slice before it even outgrows the original predictions made by the currency creators, might this be the reason behind the explosion onto the cryptocurrency markets. The trading of the coin has taken on its own existence within the community that have helped this monetary creation explode onto our computer systems and payment options.

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